All articles by Richard Lowe – Page 92
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News
Lewis moves onto next venture
EUROPE – Ric Lewis has left AEW Europe but will continue to advise two of its institutional real estate funds from the helm of new fund management company Tristan Capital Partners.
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Investor alignment could solve 'diversity' problems
GLOBAL - The common practice of having diverse investor bases in real estate funds poses significant challenges for pension funds’ due diligence, delegates heard at IPE Real Estate’s Investor Forum in Amsterdam last week.
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BPF Bouw alters real estate strategy
NETHERLANDS – BPF Bouw, the €24.2bn pension fund for the Dutch building industry, plans to increase the size of its global indirect real estate portfolio but in doing so will aim for a greater weighting to European markets and core investments with little or no leverage.
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Impact of governance unclear in market downturn
GLOBAL - Speakers at the IPE Real Estate Investor Forum in Amsterdam last week were split over the degree to which the quality of pension fund governance has affected investment performance during the current market downturn.
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BP pension fund shops for real estate
UK - The £20.3bn (€23.1bn) pension fund for BP has bought an out-of-town retail park in the UK and an office building in London, and plans to invest a further £100-150m in its domestic real estate market before the end of the year.
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Progress unwinds domestic property
NETHERLANDS - Progress, the Dutch pension fund of food giant Unilever, has begun to divest its directly-held domestic real estate portfolio through a sale of 30 residential assets in the city of Nijmegen to a private investor.
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UK property sees resurgence of interest
UK – Henderson Global Investors is the latest in a succession of managers to launch or close funds in the last two weeks targeting UK real estate.
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Speed of property decline accelerated - RICS
GLOBAL – The pace of decline in global property capital values accelerated in the first quarter of 2009, particularly in Europe where price falls hit both western and emerging economies, according to the Royal Institute of Chartered Surveyors (RICS).
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MagazineLowering the bar
Capital-raising for funds is extremely difficult. That said, in the first half of 2009 a number of funds targeting European real estate opportunities closed. However, capital targets have had to be lowered amid investor uncertainty. Richard Lowe reports
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MagazineHome and away
The West Midlands Pension Fund is staying committed to the real estate asset class following a strategic review. Richard Lowe talks to Brian Bailey about UK opportunities and expanding the global portfolio
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MagazineFocused on the big
Peter Verwer is the Property Council of Australia’s long-standing CEO. He spoke to Richard Lowe at this year’s MIPIM about sustainable properties, tax regimes, Australian superannuation funds, valuations and IFRS
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MagazineSecond thoughts
Liquidity pressures are pushing investors to trade their interests in closed-ended funds. Will the current dislocation act as a catalyst for the emergence of a more organised and active secondary market? Richard Lowe investigates
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MagazineTaking stock
ING Real Estate is battening down the hatches, focusing on core areas of business and looking after existing investments. Richard Lowe speaks to George Jautze about the challenges ahead
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USS keeps shopping for UK real estate
UK - The £28bn (€31.7bn) Universities Superannuation Scheme has bought large retail and industrial assets in the UK and plans to make more acquisitions in the near future as it looks to rebuild its domestic portfolio.
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German investors to increase local exposure
GERMANY - More than one-third of institutional investors active in the German real estate markets intend to increase their exposure to the region this year, according to German investment group Estavis.
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F&C Reit sees opportunity in distress
GLOBAL - F&C REIT Asset Management has launched its first fund, an opportunistic institutional vehicle targeting distressed situations in the UK and with an internal rate of return (IRR) of more than 20%.
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AEW widens its logistical holdings
EUROPE - AEW Europe has made a number of logistics investments across Europe for two of its closed-ended funds.
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MagazineIn a sober mood
This year’s MIPIM convention in Cannes was a smaller and far more sober affair than last year’s. Richard Lowe reports from the Mediterranean sun on an industry that looks to have come to terms with its problems
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MagazineRinging the changes
INREV revealed last month that total returns for European non-listed funds were deep in negative territory. But the big story at the annual conference in Athens came from investors calling for changes. Richard Lowe reports
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Central & Eastern Europe stayed positive - IPD
CEE - Total returns for central and eastern Europe (CEE) real estate dropped to 0.5% for 2008 from 14.2% for the previous 12 months, according to International Property Databank (IPD).
