All articles by Richard Lowe – Page 84
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German property faces fresh freeze
GERMANY – Open-ended real estate funds in Germany have suffered another bout of redemption freezes following writedowns in property valuations.
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COP says US real estate could bring TARP downturn
US – Real estate loan failures at a large number of small and medium-sized US banks could destabilise the country’s financial system and derail its economy recovery, according to the government body set up to monitor the unwinding of toxic assets.
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LGP is latest to drive inflation-linking real estate
UK – Legal & General Property (LGP) has become the latest fund manager to offer defined benefit pension funds access to real estate providing inflation-linked income.
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Pension funds pile into UK property
UK – Pension funds and other institutional investors poured more capital into the UK real estate market in the fourth quarter of 2009 than during any other three-month period on record, according to the Association of Real Estate Funds (AREF).
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UK pension funds to tap smaller property deals
UK – A number of large UK corporate pension funds will take advantage of a neglected segment of the real estate market through a new fund managed by First Property Asset Management (FPAM), a subsidiary of First Property Group.
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IPD update forces questions about UK recovery
UK – The latest results from Investment Property Databank’s (IPD) UK quarterly property index have prompted fund managers to question the sustainability of the market’s recovery.
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Clavis Walden paifs the way with new structure
UK – Clavis Walden has become the first fund manager to launch a property authorised investment fund (PAIF), an open-ended fund structure offering pension funds the same UK tax benefits as a real estate investment trust (REIT).
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South Korea becomes latest to buy Gatwick stake
GLOBAL - The National Pension Service (NPS) of South Korea has agreed to buy a 12% stake in London’s Gatwick airport.
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UK real estate recovery looking shaky - experts
UK – Economic forecasters and property market analysts have warned the recovery in UK commercial real estate market could be unsustainable.
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Europe heading for 'slow' real estate recovery
EUROPE – European real estate faces a “long, slow haul” to recovery, according to the latest report from the Urban Land Institute (ULI) and PricewaterhouseCoopers (PwC).
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PensionDanmark widens its real estate ground
DENMARK – Danish pension provider PensionDanmark has acquired commercial real estate let to other pension funds in Denmark, and plans to increase its property exposure significantly over the next three years.
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NY Common signs up to public-private programme
US – The New York State Common Retirement Fund has invested in the US government’s Public-Private Investment Program (PPIP) via to third-party real estate fund managers.
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IASB backs down from balance sheet property valuation plans
GLOBAL – The International Accounting Standards Board (IASB) has indicated it will not adopt proposals forcing real estate companies to remove property values and rental income from their balance sheets.
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Real estate appetite shifts towards tighter core market
EUROPE – European institutional investors have developed a lower appetite for risk and a desire for greater control over real estate investments over the past two years, according to the European Association for Investors in Non-listed Real Estate Vehicles (INREV).
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Drivas Jones merges with Deloitte
UK – Drivas Jonas, the oldest real estate advisory firm in the UK, has become the first to join forces with one of the ‘big four’ accountancy firms.
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Inarcassa secures external route for real estate
ITALY – Italian fund manager Fabrica is to create and manage a new €600m real estate fund based on the property assets of Inarcassa, the Italian pension fund for self-employed engineers and architects in Italy.
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Cordea Savills to tap income from UK real estate
EUROPE – Cordea Savills has secured capital commitments from three investors, including an unnamed European pension fund, for a new fund that will invest in core, income-producing commercial real estate in the UK.
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ICL pension plan moves into real estate
UK – The ICL Common Investment Fund, the investment vehicle for the ICL pension fund, made its first allocation to real estate in 2009, and invested £33m (€37.3m) through ING Real Estate Investment Management.
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UK pension funds to invest in real estate recovery
UK – Aviva Investors has raised £200m (€226m) from a number of UK local authority and corporate pension schemes for a new fund designed to capitalise on the market recovery in the UK but without using gearing.
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Alecta outsources French real estate management
SWEDEN – The asset management arm of Swedish occupational pensions mutual Alecta is to transfer the management of its real estate portfolio in France.
