All articles by Shayla Walmsley – Page 37
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BVK ‘optimises’ UK portfolio by selling assets
GERMANY/UK – Bayerische Versorgungskammer (BVK), the €43.2bn German pension fund, has sold two UK office blocks for £48m (€56.6m).
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Former IPD boss appointed INREV CEO
EUROPE – The European Association for Investors in Non-listed Real Estate Funds (INREV) has appointed Matthias Thomas, the founder of Investment Property Databank (IPD) Germany, as chief executive officer.
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Gulf states have ‘too much supply, too little cash’ – Moody’s
MIDDLE EAST – Rating agency Moody’s today blamed oversupply and lack of property finance for an 18-month negative outlook for real estate markets in Gulf Cooperation Council (GCC) states.
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Smith takes over at Aberdeen as Blacklund retires
GLOBAL – Aberdeen Asset Management has appointed Andrew Smith as group head of property.
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Retailers seek prime as shoppers hold back
EUROPE – European shoppers could take two years to catch up with the global economic recovery, according to CB Richard Ellis.
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LPFA could start wave of investment in UK housing
UK – The £3.5bn (€4bn) London Pension Fund Authority (LPFA) could be the first in a number of UK pension funds investing in the residential real estate sector.
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MagazineVolatility – so what?
Tactical allocation is moving up the pension fund agenda. But how to hedge volatility when listed does not do the job and the derivatives market is still too small to invest in? Shayla Walmsley reports
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Crisis model includes real estate for first time
GLOBAL – A crisis forecasting model developed for banking regulators has included property prices as a key risk factor for the first time.
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Whitbread property plugs pension gap
UK – based hotel and restaurant group Whitbread is to siphon income from some of its property assets to plug £100m (€115.6m) of its £434m pension deficit.
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Nottingham PF sells ‘too big’ retail park
UK – A listed company specialising in edge-of-town and out-of-town retail has acquired assets from Nottingham local authority pension fund and Xerox Pensions for a total of £22.7m (€26.3m).
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Norway-Global could choose to go direct
NORWAY – The Norway Government Pension Fund’s appointment of State Street as real estate fund administrator, including joint venture services, has led to speculation that the sovereign wealth vehicle will invest directly in global property markets.
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MagazineBringing it all back home
Asian investors are looking to neighbouring markets to plug the regional gap left by overseas capital. Shayla Walmsley reports
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East Riding gains indirect exposure to healthcare development
UK – A listed healthcare property fund that has the £1.6bn (€1.86bn) East Riding local authority pension scheme as its third largest investor last week acquired a primary care health centre development for £5.7m.
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German nursing home fund targets smaller pension investors
GERMANY – Small pension funds from outside Germany will invest in a fund dedicated to German nursing homes, according to fund manager Felix von Braun, a former managing director of Savills.
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BVI issues open-ended counter-proposal
GERMANY - The German Investment and Asset Management Association (BVI) has weighed into the debate over mooted restrictions on open-ended funds, sparked by a federal ministry proposal that would require property valuations to be cut by 10%.
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VR Pension buys Tampere hotel development
FINLAND – VR Pension, the €920m Finnish state railway workers pension scheme, has agreed a joint venture with Stockholm-based hotel firm Scandic to build a hotel in the centre of Tampere, Finland’s second largest city.
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Banks will ‘drip feed, not dump’ property assets
UK – More banks will offload their real estate assets via joint ventures with property companies – then drip-feed those left over, according to John Danes, Aberdeen’s head of UK research and investment strategy.
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Macro drives Euro growth as UK confidence boosts non-listed funds
EUROPE - Broad recovery in European property markets raises the prospect that markets such as Denmark and the Netherlands could escape the cyclical downturn altogether.
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Investors look past prime to secondary assets
EUROPE - European pension funds will look to secondary assets in search of higher returns as economies recover across the region, according to Simon Mallinson, director of research at Invesco.
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Norwegian oil fund appoints PE property manager
NORWAY - Karsten Kallevig is to manage the planned NOK140bn (€16.6bn) property portfolio of the €346bn Norwegian Global Pension Fund. The Tokyo-based partner in real estate private equity firm Grove will join the fund early in September.
