All articles by Shayla Walmsley – Page 58
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Italy may tax commercial property deals
REAL ESTATE - Real estate firms and leasing companies operating in Italy will lose out under a draft law that removes tax relief on commercial property transactions involving structured finance, according to rating agency Standard & Poor’s....
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European, US schemes back Prudential fund
REAL ESTATE – Major European and US pension funds have invested $700m (€554m) in Prudential Real Estate Investors (PREI)’s PRECO III closed-end real estate opportunity fund. Investors in the global fund include unnamed Irish and...
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London pension funds shun Olympic Village plan
REAL ESTATE - Cash to spend and an eye for the long term make pension funds the ideal investment partners to build the UK’s 2012 Olympic village, according to its real estate advisers – yet pension funds approached by IPE Real Estate indi...
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Deal digest
REAL ESTATE – A digest of the latest real estate deals involving: Scarborough, GE Real Estate, CBRE, Multi Development, RREEF, and Savills. Scarborough mops up German logistics Scarborough Continental Partners, a joint venture between Sc...
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GMPF tests property management market
Greater Manchester Pension Fund – the largest local authority pension fund in the UK – is scouting a real estate manager-cum-consultant for its property venture fund. The tender is designed to keep the current incumbent – which ...
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Pension funds to exploit sustained Nordic growth
European pension funds will be the primary investors in a pan-Nordic real estate SICAV to be launched by Aberdeen in the next few weeks. Philip Ingman, managing director of Strutt & Parker Real Estate Finance Services (SPREFS), which is advis...
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UK ‘will remain principal European market’ – DTZ
The introduction of REITs will ensure the UK continues as Europe’s principal real estate market, according to property firm DTZ – despite a predicted slight fall in investment from €71bn to €65bn in 2006. In 2005 the UK ac...
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Danish insurer sells up, moves to London
PFA Pension, Denmark’s largest insurer, has agreed to sell its residential portfolio for an undisclosed figure to a consortium of Danish real estate firm CenterPlan and Deutsche Bank’s RREEF. The divested portfolio comprises 43 pr...
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BPF sets up REITs taskforce
The British Property Federation (BPF) is to establish a taskforce to “maintain the momentum” of its campaign for UK REITs. Given that legislation allowing the first UK REIT from January next year is likely to pass this month, it is le...
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Hermes retail boss joins CBRE
Andrew Martin is to join CB Richard Ellis’s investment committee after he retires as Hermes’ retail group director next month. In his new non-executive role – which he takes over from James Hysop, who is retiring – Martin ...
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Benson Eliot steps up recruitment
Benson Eliot Capital Management, the private equity real estate firm, has appointed two partners aimed at boosting its team ready for an acquisition spree at the end of the summer. Philip Irons, former head of direct property transactions at Schr...
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Warner-Smith joins Invesco to manage UK assets, hotels
Quentin Warner-Smith has joined Invesco as a senior asset manager on the firm’s Property Income Trust (IPIT). In his new role, Warner-Smith will develop and implement strategies for the fund, which has around 50 investments in industrial (i...
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Leichnitz takes over at IVG
Wolfhard Leichnitz will take over as chairman of IVG Immobilien, one of Europe’s largest real estate firms, on 1 July. In a statement, the former Viterra chairman said he would continue IVG’s expansion “according to clear profit...
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Finnish insurers invest in Sponda logistics fund
Pension funds and insurers including Fennia, Vertias and Assai Oy are to invest in a Finnish logistics fund with real estate firm Sponda. The fund will invest in logistics across the funds’ domestic market in areas such as Vantaa, Turku, Ta...
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Pramerica cashes in DeWag, scouts new ventures
Private equity firm Pramerica last week sold German residential real estate firm Deutsche WohnAnlage (DeWag) to US firm Archstone for €518m. It completed the sale on behalf of unidentified institutional investors that have helped it acquire 91%...
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CalPERS looks to Europe for reasons to spend
US - The California Public Employees' Retirement System (CalPERS) is to boost its $11.6bn real estate allocation with opportunistic investments in cross-category European real estate, a spokesman for the fund said.
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Pension fund backs Italian independence
EUROPE - Cordea Savills last week announced that it had found a cornerstone institutional investor for Italian Opportunities, a closed-end Luxembourg real estate SOPARFI. The fund is looking to raise €200m for single-asset and portfolio ac...
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Swedish insurer buys Akzo Nobel’s Stockholm property
Swedish insurer Länsförsäkringar Liv has acquired Swedish conglomerate Akzo Nobel’s Stockholm offices for €30m. Humlegården Fastigheter, the insurer’s real estate arm, will lease back much of the 17,000 squar...
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Adler in bid to widen ownership
German property firm Adler is to increase its capital in a bid to improve liquidity and raise funds for unspecified acquisitions. The firm will issue 5,000,0000 non-par shares, in addition to the current 10,000,000 shares. Majority shareholder Jo...
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Land Secs: schemes ‘to ditch direct real estate’
REAL ESTATE - Pension funds will scale down direct investment in real estate in favour of UK REITs, according to Land Securities, Europe’s largest property company. The UK firm’s annual report, published last week, forecast that pens...
