All articles by Shayla Walmsley – Page 52
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News
Sainsbury ‘should sell property' - shareholder
REAL ESTATE - UK retailer Sainsbury’s should sell off its £7.5bn (€11bn) property portfolio to fix a flawed capital structure, according to Robert Tchenguiz, one of its nine major shareholders. Tchenguiz, whose investment vehicle...
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Florida fund buys AOL call centre
REAL ESTATE - The Jacksonville Police & Fire Pension Fund in Florida has doubled its real estate allocation with the $16.5m (€12.2m) acquisition of a former AOL call centre in the state. Pension fund executive director John Keane said th...
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Pension closures boost UK REITs
REAL ESTATE - The closure of defined benefits pension schemes will boost the success of UK REITs to the levels of their US counterparts, according to an assessment by custodian Northern Trust. The report, published three months after REITs were in...
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European schemes targeted by Macquarie, LODH
REAL ESTATE - Macquarie Bank and Swiss private bank Lombard Odier Darier Hentsch (LODH) have launched a joint infrastructure investment vehicle aimed at Swiss and other European pension funds as well as high net worth investors. LODH head of inve...
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Barings: Buy anywhere in Asia – now
REAL ESTATE - "It doesn’t matter what you invest in or which market you invest in, just invest," Baring fund manager Chris Lees said of Asian real estate. In a global equity strategy published last week, Lees, who managers the ...
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Blue Sky’s Satumalaij to join Bouwfonds
REAL ESTATE - Blue Sky Group real estate fund manager Raymond Satumalaij is to join fund manager Bouwfonds in May. In this new role – both for Satumalaij and for Bouwfonds – Satumalaij will be responsible for structuring and managing ...
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Portuguese retail bonanza to run and run
REAL ESTATE - Portuguese property returned 12% in 2006 – above bonds (0.2%) but significantly below equities (29.9%), according to IPD data released last week. Retail delivered the strongest performance at 15.9%, driven largely by domestic ...
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Invista hires Easthaugh as finance director
REAL ESTATE - Real estate fund manager Invista has appointed former banker Guy Eastaugh as financial director as part of a plan to separate financial and operational functions. Current chief financial officer (CFO) Philip Gadsden will occupy the ...
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Aberdeen settles REO split cap lawsuit
REAL ESTATE - Fund management firm Aberdeen is to pay Real Estate Opportunities (REO) £30m (€44m) to settle a lawsuit brought by the split capital trust. Aberdeen and Swiss bank UBS, which REO also sued, advised REO on a 2001 listing i...
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News
Clerical Medical makes moves into Europe
REAL ESTATE - UK insurer Clerical Medical has hired fund manager Invista to spearhead its entry into continental European real estate. The pan-European portfolio will invest in sectors, such as commercial, with a core income profile. A spokes...
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Norway follows Denmark with record returns
REAL ESTATE - The Norwegian property market returned 17.6% last year – its highest return since the index launched in 2000 – but the property market still performed below equities, which returned 32.4%. But the figures, published last...
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Danish yields near record highs of 2005
REAL ESTATE - Yield compression drove returns for Danish real estate up to 17.8% in 2006, according to property data group IPD. This is the second highest return since the index launched in 2000. Overall, yields on Danish real estate fell by 60 b...
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European property market turnover hits €227bn in 2006
REAL ESTATE - The European commercial real estate market has doubled over the past two years, According to a CB Richard Ellis report just published, turnover increased 46% last year to €227bn, following an increase of 47% the previous year....
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News
Italy matures as investors look beyond prime
REAL ESTATE - Pressure on yields in the maturing Italian office market is pushing investors towards secondary cities and alternative sub-classes, according to a report published by property firm Savills. Continuing demand for prime locations will...
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Sicilian launch for public building fund
REAL ESTATE - Pension funds will be offered 10% of a fund set up this month to invest in Sicilian public buildings. Fondo Immobiliare Pubblico Regione Siciliana (FIPRS) – a joint venture between the region of Sicily, Deutsche Bank real esta...
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CSAM UK property team defects to Aberdeen
UK – Glenn Newson, former head of UK property at Credit Suisse Asset Management (CSAM), has defected to Aberdeen Property Investors. He has taken six people from his team with him. Newson, who had left CSAM a few years back, joins Aberdeen ...
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Morgan Stanley clusters alternatives around real estate
REAL ESTATE - Morgan Stanley is to split its $45bn (€34bn) global real estate investment from banking operations – bucking a recent trend for investment banks to merge their operations. Morgan Stanley’s real estate will be house...
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News
LPFA scouts global property manager
REAL ESTATE - The £3.6bn (€5.3bn) London Pensions Fund Authority (LPFA) is looking for an external investment manager to expand its £150m real estate portfolio outside the UK. The portfolio, which up to now has been managed in-hou...
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News
ABP, Keva in property private equity move
REAL ESTATE – Finnish local government pension fund Keva and ABP, Europe’s largest pension fund, were among eight initial investors in a pan-European real estate private equity fund launched last week by Spanish property group Neinver....
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Infrastructure boss takes over at Canada’s OMERS
REAL ESTATE – The CA$48bn (€31bn) Ontario Municipal Employees Retirement Scheme (OMERS) has appointed Michael Nobrega, the current head of its infrastructure subsidiary, as its new CEO. Michael Rolland, currently senior vice president...
