All articles by Shayla Walmsley – Page 44
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CPPIB renounces rights to acquire Auckland airport
CANADA/NEW ZEALAND – THE Canada Pension Plan Investment Board (CPPIB) has headed off government attempts to block foreign ownership of strategic infrastructure assets, by gaining 57.7% shareholder approval for a carefully worded bid for a minority stake in Auckland International Airport.
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Developing Europe keeps investors local
EUROPE - Turkey and Russia now outclass other European property markets for both development and investment, indicating a shift away from “Old Europe” towards new holdings and developments, suggests a report co-published by the Urban Land Institute and PwC.
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APG and ATP back INREV index campaign
EUROPE - European pension funds have lent their weight to a campaign organised by the European Association for Investors in Non-listed Real Estate Vehicles (INREV), aimed at increasing transparency among unlisted property funds.
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Finland peers down from 10-year peak
FINLAND - Finnish real estate delivered the market’s strongest performance in a decade last year, returning 11.3% –an increase of 1.3% over the previous year, according to figures published by KTI.
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UK industry defends 'pretty good' valuers
UK - Fund managers have shored up the value of property indices against claims they adequately fail to reflect the market.
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UK property set to stabilise in summer
UK – The Real Estate Investment Trust Association (Reita) has become the latest industry body to forecast a mid-year pick-up in the UK property market.
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Fortis forms car pool with Vinci
EUROPE - Insurer Fortis is in exclusive talks with French firm Vinci to pool the firms’ European carpark assets in a joint venture.
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AP3 urges lifting of infrastructure limits
SWEDEN - Swedish buffer fund AP3 is stepping up its efforts to persuade the Swedish government to lift restrictions on pension fund investments in infrastructure.
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Swedish shoppers overtake industrials
SWEDEN - Swedish retail has overtaken office as the market’s best performing sector, according to the 2007 Swedish Annual Property Index.
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European property to slow despite pensions intervention
Investment in commercial property, having survived the 2007 credit crunch, will tail off in 2008 despite a liquidity injection from liquid investors, investment house Aberdeen has predicted.
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Dubai wealth fund offers €3.1bn for Colonial
GLOBAL – Sovereign wealth fund the Investment Corporation of Dubai (ICD) is seeking approval from two major shareholders in Colonial for its €3.1bn offer for the Spanish property firm.
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Doubt over debt deal could put BAA on block
SPAIN - Infrastructure firm Ferrovial has claimed it will go ahead with its £9bn (€11.7bn) refinancing plans despite rumours suggesting Australian infrastructure investor Macquarie was circling the UK airports operator BAA.
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Pension funds pull out of Equest
UK - The BBC Pension Trust, SAUL, BHS Pension Scheme and P&O Pension Scheme have sold their shareholdings in Jersey-based property investment firm Equest Partners.
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Fair value potential entices investors back to UK
EUROPE - Continental European property yields will follow the widening UK trend in 2008, “though not to the same extent”, according to Tony Horrell, CEO of European capital markets at Jones Lang LaSalle.
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Sovereign funds to save assets in distress
GLOBAL - Sovereign wealth funds (SWFs) will take over from private equity as they exercise their financial weight by acquiring distressed assets and companies, according to Ernst & Young’s global real estate report.
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Oil powers Canada returns
CANADA - Commercial property in oil-rich provinces contributed to Canadian returns of 16.1%, compared with 10.5% for equities, and 4.7% for bonds, according to IPD figures published last week.
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Spanish spread boosts logistics
SPAIN - Spanish logistics markets are expanding as urban sectoral growth continues at above the national average, according to a Savills report on the country’s warehousing market.
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GIC acquires Finnish retail
FINLAND - GIC, the €145bn Singapore sovereign wealth fund, has acquired 40% of one of Finland’s largest shopping centres for €131.6m.
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Strapped UK investors are still shopping
UK/EUROPE - Investors are still confident in the UK shopping centre market despite a sharp drop in transaction values in the second half of 2007, according to a DTZ report.
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Hotel investors build at home, buy abroad
US/GLOBAL -US hospitality investors are looking to Asia for returns but will face increasing competition from local investors, according to a report by Ernst & Young.
