All articles by Richard Lowe – Page 93
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News
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).
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Slowing yield compression may hint at improving sentiment - JLL
EUROPE – The weighted average European price office yield moved out 20 basis points from 5.8% at the end of 2008 to 6%, a much smaller increase than the 50bps movement between Q3 and Q4 2008, according to Jones Lang LaSalle’s (JLL) Q1 2009 European Office Yields Report.
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Financial performance is linked to ESG - research
EUROPE - Most European real estate fund managers believe there is a relationship between environmental performance and financial returns, according to a survey by the UK’s Environment Agency Pension Fund and Aviva Investors.
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Gellatly leaves BlackRock for new base
EUROPE – John Gellatly has left BlackRock as head of real estate fund of funds to join Aviva Investors’ global multi-manager team in Europe.
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Big fish seek smaller ponds
GLOBAL - Large institutional investors are looking to invest with smaller, more intimate groups of ‘like-minded’ investors, according to pension fund-related investors, as concerns have arisen about commingled funds with large, often anonymous, investor bases.
