All articles by Shayla Walmesley – Page 2
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News
China property growth 'sustainable’
CHINA - A 40% year-on-year increase in the number of sale agreements in the Hong Kong property market last year suggests an upward trend will continue in 2007, according to a report published by Vigers. The Hong Kong-based property consultants fou...
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Yields drive pension funds to car parks
EUROPE - A Luxembourg-domiciled fund is promising to deliver pension funds above-average yields with a fund set up to invest €600—700m in Central European car parks. The Société d’Investissement à Capital Risque (S...
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EC appoints experts for open-ended fund inquiry
EUROPE - The European Commission has appointed an expert panel to advise on regulation of open-ended real estate funds. The panel, which will meet until January 2008, comprises members including representatives of Crédit Agricole Asset Manage...
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PenSam’s Weischer quits to give advice
DENMARK - Investment manager Michael Weischer has quit PenSam, the Danish public-sector pension scheme, to advise other pension funds on real estate indirect investment. The €6.3bn fund has yet to select a successor when Weischer leaves at t...
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REITs to determine Indian property market
INDIA - Moody’s has urged the Indian government to push forward a regulatory and taxation framework allowing that market to introduce real estate investment trusts (REITs). In a research paper published last week, the ratings agency suggeste...
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IPO gives comfort to jittery Spanish market
SPAIN - An oversubscribed share issue last week from Spanish property firm Realia suggests a partial recovery in market sentiment from last month’s jitters over asset sale irregularities at another property group. Of the shares on offer, 52%...
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Baltics to overtake CEE markets in residential
SWEDEN - Swedish bank SEB last week acquired the €37m Europeum Business Centre in Bratislava amid wider positive forecasts for the Slovakian market. The seven-storey building, for SEB’s ImmoPortfolio Target Return Fund, was built in 2...
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French & UK pension funds invest €125m in Nordics
NORDIC REGION - Aberdeen has raised €125m in the fourth closing of Aberdeen’s €370m pan-Nordic real estate SICAV as UK, French and Scandinavian pension funds see Nordic economies outstripping those in Western Europe. Ubbe Strihag...
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Investors squeeze Ferrovial over Polish project
Institutional investors are urging Spanish infrastructure group Ferrovial to re-route a Polish infrastructure project they claim endangers local wildlife. The Polish government, which commissioned the Via Baltica by-pass project, is currently bef...
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Swedish central bank issues property price warning
SWEDEN - The Central Bank of Sweden warned last week of property price volatility as institutional investors continue to plough cash into Nordic real estate. Central bank deputy governor Lars Nyberg warned in a speech foreign investor interest in...
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Value-add sole UK strategy
UK - Institutional investors – including pension funds – are getting more involved to decisions made by real estate fund managers as value-adding strategies become the differentiator between UK funds, according to Arlington Securities.
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REITS squeeze UK’s remaining value
UK - Two UK property REITs have reported positive annual returns but diverged on forecasts for the UK market. British Land reported an annual return of 21.3%, with a 13% year-on-year pre-tax profits increase to £257m. The firm, which conv...
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"Patient capital" should fund infrastructure - OECD
GLOBAL - Governments should encourage pension funds to bankroll global infrastructure in the wake of inadequate public investment, according to a report published this month by the OECD. Based on a two-year study, the report suggested tapping pens...
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US fund manager exploits UK appetite for equities
UK - US property fund manager Cohen & Steers has set up a London office to capitalise on pension funds’ burgeoning appetite for indirect investment. The office will target continental as well as UK pension funds but asked if the timing...
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Union Investment offloads ‘heavyweight’ German office
GERMANY - Union Investment Real Estate – formerly DIFA – has sold a substantial, multi-city German office portfolio to Morgan Stanley and IVG for €2.56bn. The portfolio comprises 53 commercial properties and a separate office de...
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News
Ontario Teachers acquire infrastructure in Chile and UK
CANADA - The Ontario Teachers' Pension Plan (OTPP) last week made its first infrastructure investment in Latin America with the acquisition of stakes in two Chilean water companies. Although the fund did not disclose the value of the transaction...
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News
Hedging strategies timed for uncertainty
GLOBAL - Pension funds are exploring risk-hedging property derivatives but hesitate when it comes to allocating to them, according to the manager of an alternative real estate fund launched in recent weeks. The relative-value Iceberg Alternative ...
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