All articles by Richard Lowe – Page 90
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News
Ilmarinen eyes potential in indirect real estate
INLAND – The Ilmarinen Mutual Pension Insurance Company in Finland has identified four main areas of opportunity to investigate in its bid to increase its indirect real estate exposure, including ‘secondaries’ and infrastructure.
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Canadian pension fund develops Chinese connection
CANADA/CHINA – The Canada Pension Plan Investment Board (CPPIB), investment manager of the $105bn (€73.9bn) Canada Pension Plan, has entered into a joint venture (JV) with Goodman Group to own and develop logistics assets in mainland China.
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CBRE predicts UK property turn
UK/EUROPE – The commercial real estate market in the UK "finally turned the corner" in July, according to CB Richard Ellis, as its monthly index recorded positive total returns for the first time since June 2007.
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Distressed assets are at risk - RCA
US – The sum of US real estate ‘in distress’ has doubled since the start of the year and the equity of $1.3trn (€900bn) investing in US property is at risk, according to data providers Real Capital Analytics.
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S&P sees brief signs of listed real estate recovery
GLOBAL – Listed commercial real estate markets are showing signs of a recovery according to the latest quarterly global property and real estate investment trust (REIT) report from Standard & Poor’s.
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European offices show signs of improvement
EUROPE – Cushman & Wakefield says European commercial real estate markets are beginning to show signs of stabilising, just as International Property Databank (IPD) has announced the return of yield compression in UK West End office markets.
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Prupim trials reveal sustainability gains
UK – Prupim, the real estate division of the UK life assurer Prudential, has announced significant cuts in the environmental impact of its property portfolio in 2008, including sharp reductions in carbon dioxide emissions and water usage.
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III-Investments goes green on real estate
GERMANY – HypoVereinsbank subsidiary III-Investments has launched the first real estate spezialfond to invest exclusively in ‘green’ real estate assets.
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US pension giants lose big on real estate
EUROPE – Many of Europe’s cross-border investors returned to the real estate market in the second quarter, replacing domestic investors as the most dominant active group.
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ING calls the bottom of UK real estate
UK – The commercial real estate market in the UK has bottomed out in relation to property yields, according to Ian Whittock, chief investment officer at ING Real Estate Investment Management.
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Axa REIM edges towards China real estate fund
ASIA/EUROPE – AXA Real Estate Investment Managers (AXA REIM) has moved one step closer to creating a dedicated Chinese real estate fund.
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Aviva to invest £1bn in UK rental housing
UK – Aviva Investors is intending to launch a real estate fund aimed at pension funds and institutional investors that will invest in UK residential assets.
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Cross-border activity rises in Europe
EUROPE – Many of Europe’s cross-border investors returned to the real estate market in the second quarter, replacing domestic investors as the most dominant active group.
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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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Sarasin launches new green listed fund
GLOBAL – Sarasin has launched what it claims to be the world’s first fund to specialise in investing in sustainable real estate companies.
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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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Teeside begins UK acquisition programme
UK - The £2bn (€2.1bn) Teesside Pension Fund, administered by Middlesbrough Council, has purchased its first real estate asset through its recently-appointed property manager LV Asset Management (LVAM).
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Etera reduces office exposure
FINLAND – The €4.9bn Etera Mutual Pension Insurance Company has sold business park Swing Life Science Center in Keilaniemi, Finland to fund manager CommerzReal for approximately €120m.
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NPS partners Carlyle Group in Tokyo office purchase
ASIA - South Korea’s National Pension Service (NPS) has entered into a joint venture with private equity firm The Carlyle Group to purchase an office building in Tokyo.
