All articles by Richard Lowe – Page 78
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AXA REIM returns with development strategy
EUROPE – AXA Real Estate Investment Managers has attracted strong interest in its first European real estate development fund in six years and expects to be able to raise at least €600m by September.
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Warburg-Henderson launches follow-up Austrian fund
AUSTRIA – Warburg-Henderson, the German business of Henderson Global Investors, is seeking to raise capital from German, Austrian and Swiss institutional investors for its second Austria-focused real estate fund.
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Carlyle Group snaps up six landmark assets in UK
UK – Private equity firm The Carlyle Group has acquired six landmark central London office properties – formerly part of the portfolio of assets linked to the troubled White Tower 2006-3 commercial mortgage-backed securitisation (CMBS) – for £671m (€802m).
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European governments under pressure to sell real estate, says CBRE
EUROPE – European governments will be forced to sell real estate assets to balance public finance in the next 12 months, according to CB Richard Ellis (CBRE).
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Global real estate recovery to slip next year, says Aberdeen
GLOBAL – The global real estate recovery will falter in 2011, leading to a rise in yields, before resuming a stronger trajectory in 2012, according to Aberdeen Asset Management.
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IPE Forum: Retail threatened by internet, austerity and demographics
GLOBAL – Retail property assets have become increasingly popular for institutional investors, but the sector is fraught with challenges, listeners heard during IPE Real Estate's Investor Forum webcast last week.
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Hobbs leaves RREEF to partner Ternisien at IPD
GLOBAL – Investment Property Databank (IPD) has hired RREEF's Peter Hobbs to form one half of a new strategic partnership to succeed founders Rupert Nabarro and Ian Cullen.
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Strathclyde drops Aberdeen, makes first global real estate allocation
UK – The Strathclyde Pension fund has replaced the manager of its £750m (€906m) direct UK property portfolio for the first time in 20 years and made its first strategic allocation to global real estate.
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Global real estate transactions faltering, says RCA
GLOBAL – Preliminary data suggests the growth in global real estate transactions slipped significantly in the second quarter of 2010, as the sovereign debt crisis and fears of a double-dip recession took hold, according to Real Capital Analytics (RCA).
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Denmark's AP Pension targets UK through Rockspring
EUROPE – Denmark's AP Pension has invested in Rockspring Property Investment Managers' new UK real estate fund.
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CBRE Investors' pan-Asian fund of funds to target 'club deals'
GLOBAL – CBRE Investors' global multi-manager business, which has just raised $269m (€218m) from European pension funds for its new Asian fund of funds vehicle, expects to invest increasingly in 'club deals' in the future.
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Irish construction workers' scheme to review real estate strategy
IRELAND – The Construction Workers' Pension Scheme (CWPS) in Ireland is undergoing a review of its real estate investment strategy following similar reassessments of its equity and bond investments.
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APG backs Pramerica debt strategy
EUROPE – APG Asset Management, the wholly-owned investment manager of the ABP pension fund, is one of a number of investors to have invested in a European real estate debt strategy run by Pramerica Real Estate Investors.
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Progress to reinvest direct capital in Dutch ING REIM funds
NETHERLANDS – Progress, the Unilever pension fund, has decided to invest in two Dutch real estate funds managed by ING Real Estate Investment Management following the disposal of its directly held domestic portfolio.
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Dexia, Gimv joint venture launches Benelux infrastructure fund
EUROPE – An infrastructure and real estate fund focusing on the Benelux region has been launched following demand from Belgian pension fund and insurance companies for low-risk, non-listed exposure to the sector.
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PwC survey reveals pressure on London office fundamentals
UK – Activity in the UK financial services in the last three months was lower than expected, despite increasing at the fastest rate since the onset of the credit crunch, prompting concerns over the outlook for the London office market.
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Pension funds get on board for Rockspring's UK value drive
UK – Rockspring Property Investment Managers has raised £336m (€409m) in capital commitments for its UK Value fund from 12 pension funds and institutional investors from Europe and Australasia.
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BPF Bouw opens Dutch portfolio to other pension funds
NETHERLANDS – BPF Bouw, the pension fund for Dutch construction workers, will offer other pension funds access to its €4bn domestic real estate portfolio so it can increase its weighting to global property markets.
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Fund of funds managers switch to core and debt strategies
GLOBAL – Investment strategies in the fund of funds (FoF) sector have changed significantly over the past two years, and opportunistic and value-added products have lost out as a result, according to new research.
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Redington, M&G talk up UK social housing debt opportunity
UK – Pension funds in the UK are being encouraged to consider financing social housing as an alternative to inflation-linked bonds.
