All Real Assets articles in September 2006 (Online) – Page 2
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News
REI finance director resigns as assets increase
REAL ESTATE - Real Estate Investors (REI) finance director Malcolm Lewin resigned last week “with immediate effect” as the group reported a 36.7% increase in its assets to £7.9m (€11.7m). The firm provided no explanation fo...
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Ohio PERS awards new allocation to manager
REAL ESTATE - Ohio Public Employees Retirement System has decided to grant Great Point Investors a new annual real estate allocation of $200m. The real estate manager figures that it will use leverage to the amount of 40% at the portfolio level....
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News
Shorenstein raises €867m for new fund
REAL ESTATE - Shorenstein Properties LLC has raised $1.1bn (€867m) for its latest commingled (pooled) fund, Shorenstein Realty Investors Eight, L.P. It took the real estate fund manager around four months to raise the capital. It could have...
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Warwick fund puts €75m into real estate
REAL ESTATE - Warwickshire County Council has tendered for up to £50m (€75m) in real estate for the £1bn Warwickshire Pension Fund. It’s also putting a similar amount out to tender for fund of hedge funds. The fund, which ...
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Belgian government plans €1.2bn REIT
REAL ESTATE - The Belgian government has chosen property firm Cofinimmo as partner in a €1.2bn Sicafi, to be listed last year. The REIT-like structure will comprise 79 buildings used by federal ministries and European organisations. The gov...
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News
LaSalle names new CEO
REAL ESTATE – LaSalle Investment Management, a member of the Jones Lang LaSalle Group, has appointed Jeff Jacobson as its new CEO.
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News
EPRA conference report
REAL ESTATE - Red tape is hindering the development of the Hungarian real estate investment market – that’s one of the messages to emerge from the European Public Real Estate Association conference in Budapest.
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News
CalSTRS to put 11% into real estate
REAL ESTATE – The California State Teachers' Retirement System is looking to real estate as it rejigs its investments and tries to plug a $20bn (€15.7bn) funding gap.
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News
Swiss foundation tenders real estate
REAL ESTATE – A Swiss investment foundation has tendered $100m+ (€78.7m) in global passively managed publicly traded real estate via IPE-Quest. The search (QN658) says: “The client is looking for a global mandate that will theref...
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News
LA Water dips toe into real estate
REAL ESTATE – The $11.1bn (€8.6bn) Los Angeles Water and Power Employees’ Retirement Plan has approved its first two investments in real estate. These will be in two open-ended core commingled funds. It has made $50m commitments ...
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News
DB Real Estate sells German properties
REAL ESTATE – DB Real Estate, the property fund arm of Deutsche Bank, has sold six properties worth €500m from its core German fund to Fortress, the US private equity investor. A spokesman for DB Real Estate said the properties were so...
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News
Ohio Police & Fire commits to commingled fund
REAL ESTATE - The Ohio Police & Fire Pension Fund has made a $25m (€19.6m) commitment to the Westbrook Real Estate Fund VII. This was an investment that was approved by the pension fund’s staff and real estate consultant Townsend G...
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Finnish pension funds cautious on REITs reform
REAL ESTATE - The Finnish Pension Alliance (TELA) has criticised government proposals on real estate investment for failing to remove tax obstacles that will discourage pension funds and other investors from investing in REIT-style structures. At...
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News
Nottingham scheme gets Noble boost
REAL ESTATE - Noble Property Trust – the fund set up last year with an initial £20m (€29m) investment from Nottinghamshire County Council Pension Fund – has reported what it describes as “impressive early gains” in ...
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News
Savills rethink after public fund failure
REAL ESTATE - Savills is to launch a private German real estate fund after an abortive public fund launch earlier this year failed to generate sufficient funds. The new fund, aimed at European pension funds and retail investors, is expected to la...
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Pennsylvania to invest in structured finance
REAL ESTATE – The $30bn (€23.3bn) Pennsylvania State Employees Retirement System will be looking at investing capital into three structured finance commingled funds at in next board meeting on September 13. One of the commitments will ...
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News
Insight floats real estate under Ross Goobey
REAL ESTATE - Insight Investment plans to raise £100m (€148m) in new capital when it floats its real estate fund management business, Invista, on the junior AIM market this month. Former Hermes pensions chief executive Alistair Ross G...
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News
Ex-Hewitt consultant takes real estate role
REAL ESTATE - Dick van den Oever, a former senior consultant at consulting firm Hewitt Associates in Amsterdam, has taken on a role at Dutch real estate firm Berckheijde. He’s taken over the operational management and a part of the shares of...
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News
San Bernardino County makes its move
REAL ESTATE – The San Bernardino County Employees Retirement Association took on several real estate items at its board meeting in early August. The most significant of the actions was to change the overall mix of its real estate portfolio...
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AIM faces competition for property listings
REAL ESTATE - Two IPOs announced last week suggest that AIM, the London Stock Exchange’s junior bourse, is losing its near-exclusive power to attract global real estate companies. Kenmore European Industrial Fund announced that it is to lis...
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