All Real Assets articles in September 2006 (Online)
View all stories from this issue.
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News
Value-added theme in ING REIM funds launch
REAL ESTATE - ING Real Estate Investment Management has launched five new property funds with a total value of €4.25bn. The new offering comprises a central and East European fund of €1bn, a Nordic property fund of €1bn, a French...
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IVG ups Oppenheim real estate stake
REAL ESTATE – German real estate specialist IVG Immobilien plans to acquire nearly all of Oppenheim Immobilien-Kapitalanlagegesellschaft (OIK), Germany’s leading provider of real estate funds for institutional investors. IVG said that ...
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Texas Teachers makes real estate moves
REAL ESTATE - The Teacher Retirement System of Texas made some real estate moves at its board meeting in the middle of September. The fund has approved an investment of up to $100m into the Capmark Structured Real Estate Partners commingled fund. ...
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Illinois State commits to urban fund
REAL ESTATE - The Illinois State Board of Investment has approved a $30m commitment to the MacFarlane Urban Real Estate Fund II, L.P. The fund took this action at its board meeting in mid September. It was assisted in its real estate decision by ...
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Chicago school fund eyes international
REAL ESTATE – The $10.9bn (€8.5bn) Public School Teachers' Pension and Retirement Fund of Chicago is considering amending its real estate exposure, according to fund documents. At its last trustee meeting on August 17 executive directo...
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USS in central Europe real estate move
REAL ESTATE – The £26bn (€38.5bn) Universities Superannuation Scheme, the pension fund for university staff, has made a move to increase it central European real estate holdings. First Property Group, which manages regional real e...
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Canada’s La Caisse takes Brazil real estate stake
REAL ESTATE - A real estate subsidiary of Caisse de dépôt et placement du Québec, Canada’s largest pension fund, has acquired an undisclosed stake in Brazilian retail management firm Ancar. La Caisse’s Ivanhoe Cambridge...
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Belgium sells off military real estate
REAL ESTATE – The Belgian government is planning to sell off an “important” piece of its defence real estate – a plot of land containing officer accommodation. The Ministry of Defence’s Central Service for Social an...
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New Asian unlisted real estate forum unveiled
REAL ESTATE - A new Asian real estate investors’ forum will be unveiled this week at the MIPIM Asia event in Hong Kong. The Asian Real Estate Association (AREA) is being formed to bring together investors, managers of privately held real es...
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LA County earmarks $600m for separate account
REAL ESTATE - The Los Angeles County Employees Retirement Association has chosen an initial commitment of $600m as it establishes a new way to allocate capital for its separate account real estate managers. The allocation will be split into three ...
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Norway state fund rejects real estate before 2007
REAL ESTATE - The Norwegian finance ministry says moving into real estate “just isn’t a priority” for the Government Pension Fund, despite reports of an imminent 8-10% allocation. A spokeswoman for Norges Bank Investment Manageme...
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Idaho fund in $18m Arizona purchase
REAL ESTATE – The $9.9bn (€7.75bn) Public Employee Retirement System of Idaho, or PERSI, was last week involved in the $18m purchase of an office building in Scottsdale, Arizona following the vendor’s liquidation. PERSI and the C...
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CalPERS to invest $100m into commingled fund
REAL ESTATE - The California Public Employees Retirement System has approved a $100m commitment into the Page Mill Properties II commingled fund. The pension fund made this commitment as part of its opportunistic real estate investment strategy. ...
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Irish reserve fund puts €44m into property
IRELAND – Ireland’s National Pensions Reserve Fund is to invest £30m (€44m) in specialist property fund The Mall as part of its €135m commitment to real estate.
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Morley goes to the movies
REAL ESTATE - A 50/50 joint venture between Morley Fund Management and Pinewood Shepperton has acquired the 999-year lease on Shepperton film studios outside London. Morley paid £10.5m cash towards the Shepperton Studio Property Partnership ...
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IPE-QUEST: Swiss institution tenders real estate
REAL ESTATE – Swiss investment consultant Kieger AG has tendered two real estate mandates for one of its institutional clients via IPE-Quest. Up to $50m is being tendered via two searches (QN659 and QN660). They are not connected to search Q...
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ING starts real estate service provider
REAL ESTATE – Dutch banking group, in a bid to enhance its range of real estate-related banking and advisory services, has formed ING Real Estate Capital Advisors, or RECA. RECA will offer fully integrated banking, capital markets and adviso...
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CBRE names Tokyo head
REAL ESTATE - CB Richard Ellis has hired former Macquarie Properties Japan president Steve Bass to head its Tokyo office just weeks before it launches operations in China. Bass, a former CBRE executive, will handle the firm’s investments i...
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Illinois State buys industrial portfolio
REAL ESTATE- The Illinois State Board of Investment has purchased a portfolio of industrial properties through separate account manager CB Richard Ellis Investors for $80.5m (€63.5m) from Bentley Forbes. The transaction involved the acquisit...
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Hewitt’s Duff attacks real estate managers
REAL ESTATE - Most real estate fund managers aren’t fit for purpose, according to Nick Duff, real estate partner at Hewitt Associates. In an interview with IPE Real Estate, Duff said most lacked “the contacts, the systems or the teams...
