All articles by Shayla Walmsley – Page 43
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UK residential 'risky' despite 2007 returns
UK - Market fragmentation and unfavourable tax treatment are scuppering attempts to widen investment in the UK residential, Savills director Jacqui Daley said last week.
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Pension funds eyed for regional infrastructure
UK - Pension funds could be targeted for investment in a £1bn (€1.25bn) UK regional fund, set up to invest in small-scale and transport infrastructure projects.
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NZ scotches CPPIB airport deal
NEW ZEALAND - Canada Pension Plan Investment Board (CPPIB)’s long-running attempts to acquire a stake in Auckland International Airport (AIAL) collapsed last week after the New Zealand government refused to approve its application under the Overseas Investment Act.
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Sponda goes to the docks
FINLAND - Finnish property firm Sponda has agreed a €12m deal with the Port of Helsinki to build a harbour service centre at Vuosaari.
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INREV plans Asian expansion
EUROPE - The European Association for Investors in Non-listed Real Estate Vehicles (INREV) is to expand into unlisted Asian property.
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Finnish PFs invest in Portuguese retail
FINLAND/PORTGUAL - Finnish investors, including the €24.3bn Local Government Pensions Institution and pension insurer Ilmarinen, are among the reference investors in a Portuguese shopping centre fund.
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Teeside "may up allocation"
UK - Teesside Pension Fund is mulling an increase to its real estate allocation as it has issued a tender for the management of its £95m (€120m) directly-held UK portfolio.
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European capital shifts to Bavaria
GERMANY - Fidelity is shifting its pan-European real estate operations to Munich, in an expression of confidence in the recovering German property market.
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Pension funds are "comfortable" with global investment
GLOBAL - Pension funds are increasingly comfortable investing in overseas markets they see as subject to increasingly global standards of transparency, according to Standard Life Investments.
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BP pension fund signs central London JV
UK – BP’s UK pension fund has launched a joint venture that will give the £13.8bn (€19bn) scheme access to central London assets as part of a broader drive to increase its exposure to property.
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Logistics remains strong, except in UK
EUROPE - Logistics is still outperforming other European sectors despite a 12% fall in direct investment last year compared with 2006.
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Asia gains local real estate education
ASIA - The Asian Public Real Estate Association (APREA), which represents the listed sector, has launched a certification programme for regional real estate investors.
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Aberdeen pulls out of Swedish retail
SWEDEN - Aberdeen has radically reduced its exposure to Swedish retail, just weeks after the 2007 Swedish Annual Property Index claimed it as the year’s top-performing sector.
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Latecomer Swede enters Finnish market
FINLAND - The German fund management arm of Swedish bank SEB has acquired the first Finnish asset for its ImmoInvest open-ended fund, in a €23m deal for an airport-city office block outside Helsinki.
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Finnish fund’s property cap to stay
FINLAND - Investments in the €12bn Finnish state pension fund VER will continue to be driven mainly by “traditional risk limitations”, despite the growth in recent years of its real estate and infrastructure portfolios.
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RREEF enters German retail market
GERMANY - A RREEF-dominated consortium is to acquire 164 German properties housing Karstadt department stores, via a 49% stake in Canadian fund manager Highstreet.
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Protego seizes off-market opportunity to shop
FINLAND - Protego Real Estate Investors has acquired Helsinki’s Kamppi shopping centre for €452.5m in an off-market deal.
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Ilmarinen to finance Sponda’s Russian expansion
FINLAND/RUSSIA - Finnish pensions provider Ilmarinen has signed a deal to part-fund property firm Sponda’s aggressive Russian expansion strategy.
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ING shuffles European managers for healthcare launch
NETHERLANDS - ING Real Estate Investment Management (ING REIM) has shuffled its European management team ahead of the launch of the firm’s first healthcare property fund.
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West Sussex mulls overseas move
UK - West Sussex local authority pension fund has reappointed Cushman & Healey in a £340,000 deal to manage its direct property portfolio.
