Retail – Page 117
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Heitman buys into shopping venture
UNITED STATES – Heitman, the real estate asset manager, has formed a joint venture with Macerich, the US shopping centre owner, and bought a major stake in two US regional shopping centres.
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USS snaps another high street bargain
UK – The Universities Superannuation Scheme (USS) has made another retail acquisition in the UK, taking its total UK real estate investment in 2009 to £300m (€327m).
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SWIP re-enters European retail property
EUROPE – Scottish Widows Investment Partnership (SWIP) has signalled its intention to re-enter the continental European real estate market with the launch of retail fund run in partnership with Cushman & Wakefield Investors (CWI).
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Progress almost complete on real estate disposal
NETHERLANDS – Progress, the Dutch pension fund of food giant Unilever, is close to completing the disposal of its entire directly-held real estate portfolio.
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Birmingham shoppers to support Australian pensions
AUSTRALIA/UK – The Australian government’s Future Fund has bought a 33% stake in the Bullring in Birmingham, England from Land Securities.
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Hampshire to target UK property in next 12 months
UK – Hampshire County Council is looking to almost double its pension fund's exposure to UK commercial property over the next year to meet the 8% target allocation agreed before the market downturn.
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Sentiment in UK CRE improving but more pain to come
UK – Average property yields in the UK fell by 15 basis points to 7.03% in August, the lowest level since November 2008, according to Cushman & Wakefield.
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Korean NPS to invest in central London prime
KOREA/UK – The National Pension Service of Korea (NPS), the fifth largest pension fund in the world, has awarded a mandate to UK-based Rockspring Property Investment Managers to invest in prime central London real estate.
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ABFPT purchases retail park
UK – Wilky Fund Management has purchased Brook Retail Park in Clacton-on-Sea on behalf of the Associated British Foods Pension Trustees (ABFPT) for £11.5m (€13.2m).
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Ropemaker set to make UK acquisitions
UK - Ropemaker Properties, the direct real estate investment arm of the BP Pension Fund, is expected to complete two real estate acquisitions in the UK.
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HSBC Bank Pension Trust in new acquisition phase
UK – LaSalle Investment Management has purchased 50% stakes in two UK retail parks on behalf of the HSBC Bank Pension Trust.
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CPPIB and GIC turn to Brazilian real estate
AMERICAS – The Canada Pension Plan Investment Board (CPPIB), investment manager of the $105bn (€73.9bn) Canada Pension Plan, has entered into a joint venture with Brazilian property developer Cyrela Commercial Properties (CPP) to invest in commercial real estate in Brazil.
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Florida Board of Administration reassigns MS managed assets
UNITED STATES - Florida State Board of Administration has signed contracts to transfer 85% of the $2.7bn (€1.93bn) separate account assets previously managed by Morgan Stanley Real Estate to Heitman, L&B Realty Advisors and Invesco Real Estate.
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South Yorks invests in UK retail development
UK – The South Yorkshire Pension Fund has agreed to fund a shopping centre redevelopment in Wales for £11.8m.
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CalPERS in $1bn retail joint venture
US – California Public Employees' Retirement System (CalPERS) has entered into a joint venture with First Washington Realty, which will purchase close to US$1bn (€700m) in retail real estate assets from Macquarie CountryWide Trust.
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SBZ begins direct portfolio sell-off
NETHERLANDS - SBZ, the €2.2bn Dutch pension fund for care insurer employees, has made its first two disposals of direct property holdings as part of a transition to a wholly indirect real estate exposure.
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Tesco makes second property pledge to pension
UK – Tesco, the global supermarket chain, has signed another sale-and-leaseback deal with pension fund trustees, which will see the fund take a 50% stake in assets worth £458m.
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BP pension fund shops for real estate
UK - The £20.3bn (€23.1bn) pension fund for BP has bought an out-of-town retail park in the UK and an office building in London, and plans to invest a further £100-150m in its domestic real estate market before the end of the year.
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MagazineGetting defensive
Investment activity in the European retail sector, while down, is holding up well relative to the commercial property market as a whole. Lynn Strongin Dodds investigates retail’s potential to ride the current storm
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USS keeps shopping for UK real estate
UK - The £28bn (€31.7bn) Universities Superannuation Scheme has bought large retail and industrial assets in the UK and plans to make more acquisitions in the near future as it looks to rebuild its domestic portfolio.
