All articles by Shayla Walmsley – Page 48
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Macro growth boosts Nordic retail
NORDICS - Pension funds have an irrational attachment to office real estate when they should be looking to outperforming retail, according to fund manager Cordea Savills.
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Credit squeeze claims Swiss super-deal
SWITZERLAND - The credit squeeze claimed one of its first major deals last week when a consortium led by London-listed Israeli property firm Delek announced it had pulled out of the planned CHF 3.5bn (€2.8bn) acquisition of property firm Jelmoli’s 88-property Swiss portfolio.
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Slovakia to stymie pension property plan
SLOVAKIA - The Slovak government is to scotch a legal amendment that would allow second-pillar pension schemes to invest in real estate.
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ABP defector joins F&C
NETHERLANDS - ABP real estate securities analyst Jorit Arissen is leaving the Dutch pension fund after just over a year to join fund manager F&C.
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Oslo property market is ‘the new Helsinki’
NORWAY – Europe is good but Norway is better, according to a property market report published by Close, the independent merchant bank.
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UK, Spanish banks in sale-and-leaseback deals
UK/SPAIN - Two banks involved in the acquisition of ABN Amro are selling off most of their remaining property assets in a series of sale-and-leaseback deals.
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UK government to invest €2.4bn in infrastructure
UK - The UK government is to plough £1.7bn (€2.4bn) into boosting infrastructure for planned ‘new’ towns and growth areas over the next three years.
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Bär taps into thirst for infrastructure
SWITZERLAND - A fund jointly launched by Macquarie and Julius Bär, the private bank, is targeting European pension fund investors with a global infrastructure fund focused primarily on energy and utilities.
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Credit crunch creates PE buyers’ market
GLOBAL - Excess capital accumulated by US real estate private equity funds in the first half of 2007 will help them mop up in a downward-valued market, according to an Ernst & Young report on real estate private equity funds.
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Strategies switched amid lower Romanian returns
ROMANIA - Charlemagne Capital’s €110.5m sale of three Romanian property assets last week indicates a significant shift in that market, according to investors.
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Folksam PFs in pilot pooling venture
SWEDEN - Swedish insurance group Folksam has set up the first bespoke property pooling structure designed for separate pension funds within the same group.
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Hotels lose clients but grow revenues
UK - Despite flattening occupancy rates, UK hotel revenues will increase by 6.2% in 2007—8, according to a report published by PricewaterhouseCoopers.
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Unite transfers UK student assets
UK - Student accommodation developer Unite has sold assets in Glasgow, Leeds and Bristol to its Unite UK student accommodation fund for £81.8m (€118m) in cash.
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Austrian prices ‘good for two more years’
AUSTRIA - Recovering office across European markets still offers yields as a sector no longer available in retail and industrial, according to property firm Matrix.
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Stunted supply boosts European retail
EUROPE - European pension funds are on a regional shopping spree motivated by a limited supply of new assets in low-risk markets, according to Aberdeen fund manager Nico Tates.
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Pension funds "ready for Russian real estate"
RUSSIA - Pension funds – at least Nordic ones – are ready to invest in Russian real estate, having overcome earlier reluctance concerning the complexity of the market, according to Ole Dall-Hansen, chief executive of Aberdeen Property Investors Eastern Europe.
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Land of Rising Sun is still Asian favourite
JAPAN - Japan continues to dominate core Asian real estate despite the emergence of investible real estate markets in more volatile regional economies.
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CalPERS feeds $500m to Dragon
UNITED STATES - CalPERS is adding a further $500m to its existing $3bn invested in Asia real estate, via a local fund focused on mature regional markets and China, while the same amount will be placed in commingled funds.
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Private equity to overtake property in alternatives race
GLOBAL - Pension funds will allocate more to private equity than to real estate over the next three years, according to a survey published by Citigroup.
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Ex-army ‘new town’ set for sale
UK - The UK government is to sell off decommissioned land earmarked for the development of a new town in southeast England.
