All articles by Shayla Walmsley – Page 41
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Finnish PFs snap up Sponda bond
FINLAND - Finnish pension funds and insurers will be the primary investors in a €130m hybrid bond issued by Finnish real estate firm Sponda, according to chief executive Kari Inkinen.
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Staffordshire hires JLL to value property portfolio
UK - Staffordshire Pension Fund has hired Jones Lang Lasalle as valuer for its £233.5m (€292m) UK direct property portfolio, replacing Cushman & Wakefield.
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BPT beats off Quebec pension fund for Russian assets
RUSSIA - The Baltic Property Trust Group (BPT) has beaten off Russia-hungry rival investors to acquire its latest asset in the market: the first phase of the Country Park business centre in Moscow.
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Pension funds cut managers and look again at Europe
EUROPE - Pension funds are slashing the number of property fund managers they deal with, at the same time as increasing their allocations to an asset class they now see as core to their investment strategies.
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McKinsey sees Middle East infrastructure soaring
MIDDLE EAST - Middle East institutional investors with liquid funds will dominate infrastructure in their domestic region, according to McKinsey experts.
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Japanese returns head for zero
JAPAN - Slowing capital growth is accelerating Japanese property’s downward growth trend, according to IPD, as new figures show there was a 5% fall in return to 11% between January and February.
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Hotels grow – but outside Europe
EUROPE - The hotel sector’s centre of gravity has lurched away from Europe, according to Martin Armitstead, DTZ’S managing director of EMEA hospitality.
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Care and cure ‘perfect for pension funds’
EUROPE - ‘Care and cure’ property assets are gaining appeal among pension funds because they offer a hedge against the broader economic downturn, according to ING Real Estate fund manager Wietse de Vries.
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MagazineWe’re coming to get you
An apparent willingness to pre-empt demands for transparency is unlikely to make governments open their airports to sovereign wealth funds, says Shayla Walmsley
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Blight to leave ING REIM
NETHERLANDS/AUSTRALIA - David Blight, chief executive of ING Real Estate Investment Management is leaving the company to return to his native Australia, the firm has announced.
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J-REITs are bowed but still borrowing
JAPAN - J-REITs are better positioned than other Japanese property firms to weather lender caution, according to a report published by Moody's which maintains a stable outlook for 20 of 22 rated J-REITs.
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Retail booms despite ‘weak’ Russian reputation
RUSSIA - Consumer spending power is driving resurgent growth in Russian retail real estate, according to Swedish fund manager East Capital following the launch of a retail property fund.
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Stay out of politics, OECD tells SWFs
GLOBAL - The OECD has apparently softened its stance on sovereign wealth funds (SWFs), welcoming their “constructive contribution” to economic development and lauding them as “a force for global financial stability”.
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Investors pull back from emerging markets
GLOBAL - Investors are pulling back from emerging markets as the credit crunch dents both global transaction volumes and occupancy.
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Vietnam gains ground in global rent rise
VIETNAM - Ho Chi Minh City has seen the world’s fastest office rent rises in the 12 months to March, with occupancy costs rising 94%, according to CBRE’s Global Market Rents survey.
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Asian retail is 'sound'
ASIA - ING Real Estate has described the Asian retail market as “fundamentally sound” and announced the acquisition of 80% stakes in two Korean hypermarket developments, in a joint venture with an unnamed local insurance firm.
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Germans abandon bricks for unlisted funds
GERMANY - Cross-border investment in German real estate is pushing German pension fund investors to abandon bricks and mortar for unlisted funds, according to INREV.
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UK 'real values' yet to see full impact
UK - The UK property market is approaching fair value, but it has yet to face the fall-out from an economic downturn, according to British Land CEO Stephen Hester.
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Russia to weather credit crisis
EUROPE - Moody’s last week issued an 18-month ‘negative’ rating for European real estate, blaming “fundamental credit conditions” – but claimed Russia would continue to offer value for investors.
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Cambodia is the new Vietnam
CAMBODIA - International investors in Asian real estate are looking beyond the rapidly saturating Vietnamese market to Cambodia in search of macro-driven investment opportunities.
