All articles by Richard Lowe – Page 90
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News
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).
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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.
