All articles by Shayla Walmsley – Page 36
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Property industry 'ill equipped' for DC shift, says Invesco
GLOBAL – The bricks and mortar property industry is ill equipped to deal with the future switch to defined contribution (DC) because of liquidity requirements, according to Simon Mallinson, research director at Invesco.
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Investors in PE funds mark shift in 'balance of power'
GLOBAL – Institutional investors believe the concessions they have rung from private equity real estate managers in the past year represent a permanent change in the balance of power, according to private equity data firm Preqin.
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AP3 joint venture with Kungsleden acquires public portfolio
SWEDEN – A joint venture between the €21bn third Swedish pension fund (AP3) and Stockholm-based developer Kungsleden has acquired a public property portfolio for SEK1.1bn (€120.2m).
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Under-supplied CEE region offers 'alternative' to emerging markets
EUROPE – Debt-free investors should view Central and Eastern European (CEE) real estate as a lower-risk alternative to investing in emerging markets, according to Holger Schmidtmayr, board member of Austrian property firm Sparkassen.
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Finland's Veritas offloads residential portfolio to Germany's Patrizia
EUROPE – Finnish pensions insurer Veritas has sold a 113-asset portfolio to German fund manager Patrizia in the first residential deal involving an investor based outside the region.
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Barings: China will tread carefully on real estate market
CHINA – The Chinese government will continue to tread cautiously over policy measures aimed at cooling the real estate market amid the near-certain postponement of a property tax originally scheduled for introduction this month, according to Barings.
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Hermes Real Estate acquires core London office
UK – Hermes Real Estate, the property fund manager owned by the £35.3bn (€42.5bn) BT pension scheme, has acquired an office asset on the outskirts of London for £58m.
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Pension funds to buy 'problem' infrastructure in second wave of privatisation
UK – Pension fund and private equity investors could mop up UK infrastructure assets in a second major wave of privatisation, according to a report by the Adam Smith Institute, a free-market think tank.
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Whitbread wannabes in UK underestimate complexity, says Punter Southall
UK – UK pension funds considering property to plug their pension gaps are looking at overly complex structures to do it, according to research by consultancy Punter Southall on the recent Whitbread property partnership.
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Prime continuing to defy fundamentals - King Sturge
EUROPE – King Sturge’s European first quarter survey is the latest to report prime property retaining its value despite a sluggish macro recovery across the continent.
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Listed timber fund grows Chinese exposure
CHINA – A London-listed timber vehicle funded mostly by UK and European pension schemes is acquiring Chinese assets in a bid to build up a significant market-specific portfolio.
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Pension funds to take the train
UK – Pension schemes could be asked to fund the UK’s high-speed rail network under proposals currently before the transport ministry.
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Finnish insurer pays more for long lease logistics
FINLAND – Finnish pensions insurer OP-Henkivakuutus Oy has acquired two assets – one light industrial, the other a warehouse – from a UK fund for €20.7m, reflecting a yield of 7.5%.
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MagazineSmall allocation giving it large
It is a cautious allocation, just 5%, but the Norwegian Government Pension Fund – Global has the cash to buy properties that are closed to most investors, as Shayla Walmsley reports
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Global forecast confirms two-tier trend
GLOBAL – The forecast for Europe is cautious, for the US better, and for some of Asia the best of all, according to Jones Lang LaSalle's (JLL) quarterly Global Market Perspective.
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Chinese property policies carry ‘a big if’
CHINA – The Chinese government’s attempts to contain a property price bubble could impact overseas joint-venture investors, according to a China-based economist.
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ING REIM offers access to its funds through single structure
EUROPE – An unnamed Swiss insurer has invested €100m via several of its subsidiaries in an ING Real Estate Investment Management fund of funds (FoF) vehicle launched last week.
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GIC ‘will not list’ real estate portfolio
GLOBAL – GIC’s European head of real estate today denied reports that Singapore’s largest sovereign wealth fund (SWF) plans to list its real estate portfolio. However, he did not deny that the fund could list a portion of it.
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Munich office outlook maintains focus on prime
GERMANY – Munich office rental will pick up slowly in 2010 even if there is a speedy recovery, according to a report published this week by Knight Frank.
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Recovery boosts forecasts for Europe, US
GLOBAL – Economic recovery has upped the prospects for long-lease prime properties in cities such as London, New York, Paris and Hong Kong, according to ING Real Estate Investment Management.
