All articles by Richard Lowe – Page 90
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Birmingham shoppers to support Australian pensions
AUSTRALIA/UK – The Australian government’s Future Fund has bought a 33% stake in the Bullring in Birmingham, England from Land Securities.
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Texan pension funds kickstart shift back into real estate
UNITED STATES - Texas Permanent School Fund is hoping to become a major player in real estate over the next four years and invest up $1bn (€686.7m), just as local rival Teacher Retirement System of Texas has appointed LaSalle Investment Management to run a special real estate vehicle specialising in ...
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Secondary market receives transparency boost
UK - CB Richard Ellis and property derivatives specialists GFI have attempted to cultivate the nascent secondary market in unlisted property funds with the launch of a dedicated portal.
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BBC receives offer for London office
UK – The pension fund of the British Broadcasting Corporation (BBC) has confirmed that it has been offered £30m (€34m) for its office building in London.
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UK PFs in healthcare gain
UK – Several UK pension funds have gained exposure to a specialist real estate fund through the secondary market.
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AXA REIM appoints new CIO
GLOBAL – AXA Real Estate Investment Managers (AXA REIM) has appointed Dennis Lopez as global chief investment officer.
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APG urges PEPR to improve governance (updated)
NETHERLANDS – APG, the asset manager of ABP pension fund, has called on fellow shareholders in Prologis European Properties (PEPR) to block the company from raising new equity unless they are given the option to replace PEPR’s manager.
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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.
