All articles by Richard Lowe – Page 89
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News
BPF Bouw and Progress sell Unilever HQ
NETHERLANDS – Dutch pension funds BPF Bouw and Progress have sold the headquarters of food giant Unilever in Rotterdam to German fund manager Real IS.
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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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Crown Estate signs first green lease
UK – The Crown Estate has signed its first green lease for part of its £750m (€860m) Regent Street regeneration programme in London.
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88% of pension funds very concerned about LTV issues
EUROPE – Most European institutional investors are worried that the non-listed real estate funds they are invested in are likely to breach loan covenants, according to a study by the European Association for Investors in Non-listed Real Estate Vehicles (INREV).
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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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UBS and Oxford in major pre-letting deal
UK - UBS Global Asset Management and Oxford Properties, the real estate arm of Canada’s Ontario Municipal Employees Retirement System, have achieved one of the largest speculative lettings in the City of London.
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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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VER to increase RE allocation; targets UK
FINLAND - Valtion Eläkerahasto (VER), the State Pension Fund of Finland, is working to make its first commitment to a dedicated UK real estate fund as it looks to increase its overall property exposure.
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Transaction levels turn the corner
GLOBAL – Real estate transaction levels around the world rose for the first time in 18 months and Real Capital Analytics (RCA) predicts this will transpire to be a sustainable trend.
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MagazineEuropa Capital: 'The price is the price'
Europa Capital is back in buy mode following a 12-month pause. But while the European fund manager sees lots of opportunities, Charles Graham and Noel Manns are coming up against just as many unrealistic sellers. They talk to Richard Lowe
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Finnish pensions land airlines among property
FINLAND – Nordea Life Assurance Finland, Varma Mutual Pension Insurance and Valtion Eläkerahasto (VER) , the Finnish State Pension Fund, have invested in four airport properties in Finland through their NV Property Fund joint venture.
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Australian real estate plans route out of recession
AUSTRALIA – The Property Council of Australia has put together a blueprint for the real estate investment industry, to lead the sector beyond the current downturn.
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USS expands industrial holdings
UK – The £28bn (€31.7bn) Universities Superannuation Scheme continues to rebuild its domestic real estate portfolio by purchasing a portfolio of industrial assets measuring 2.9 million square feet for £196m (€226m), reflecting a yield of 8.7%.
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High risk real estate is too much for Quebec
CANADA – The Caisse de dépôt et placement du Québec has revealed the value of its real estate portfolio had fallen by C$4bn (€2.57bn) by the end of June 2009, and it is no longer investing higher risk real estate debt.
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Investment houses talk up UK property prospects
UK – Prupim has revised its forecast for the UK commercial property market as yields are beginning to stabilise, and Aberdeen Property Investors is predicting UK real estate will outperform its continental counterparts over the next five years.
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National Grid pension considers UK real estate
UK – The National Grid UK Pension Scheme has invested approximately £70m (€81m) in UK real estate this year and its advisers expect to commit a similar amount again during the second half of this year and in 2010.
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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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KEL pension moves into office space
UK – The pension fund of UK-based software company KEL has acquired a UK office for £2.81m (€3.29m).
