All articles by Shayla Walmsley – Page 60
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Prudential opens Asia real estate office
REAL ESTATE - Prudential is to open an Asia-Pacific regional office in Singapore. The new office – a joint venture between Prudential Property Investment Managers, the UK real estate business, and fund management firm Prudential Corporation ...
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Schroders scheme ups property allocation
REAL ESTATE - Schroders has shifted its £500m (€733m) pension fund towards UK commercial real estate – with investment head Alan Brown slamming the “transparently wrong” assumptions underpinning asset/liability modelling....
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German investors hint at more acquisitions
REAL ESTATE - Eurocastle, the largest listed owner of German commercial real estate, has hinted at imminent acquisitions in its new annual report. The offshore company, which is managed by US investment firm Fortress, said it was looking at R...
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Morley launches real estate trading facility
REAL ESTATE - Morley Fund Management has unveiled a UK “trading facility” for its own unlisted real estate funds. It said the move had been driven by “considerable investor demand” from institutions throughout Europe. T...
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Savills Spanish chief jumps to Jones Lang Lasalle
REAL ESTATE - Savills says it is unlikely to replace Marcus Lemli when the director of Spanish investment leaves later this year.
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Merrill nabs two for European real estate
REAL ESTATE - Merrill Lynch has poached two Citibank staff for its real estate arm in Europe, the Middle East and Africa (EMEA). Incoming managing director Joe Pedlow will expand the bank’s London-based commercial real estate financing team...
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Morley adds three amid inflows
REAL ESTATE - Morley Fund Managers has hired three new fund managers for its life UK real estate team. Barry Hill, Justin Brand and Henry Richardson replace three fund managers promoted internally. Hill, who joins from Arlington Property Inv...
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L&G pooled pension fund ups London allocation
REAL ESTATE - Legal & General’s pooled property pension fund has acquired a £25.6m (€37.3m) office block as part of the firm’s strategy to up its weighting in central London real estate. The firm acquired the refurbishe...
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SNS Reaal raises €1.3bn from institutions, retail
REAL ESTATE - Dutch bancassurance firm SNS Reaal is to raise €1.3bn in an initial public offering aimed at institutional and retail investors. Former sole shareholder Stichting Beheer SNS Reaal, which supported the Euronext flotation, will ...
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IVG targets schemes with bespoke funds
REAL ESTATE - Bonn-based IVG Immobilien is to target pension funds with bespoke vehicles invested in non-listed real estate – in addition to its growing portfolio of closed-end core, opportunistic and development funds. The firm has already...
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Foreign investors eye South African market - IPD
REAL ESTATE - Potential returns from South African real estate are encouraging overseas investors despite the perceived risks, according to research firm International Property Databank (IPD). Stan Garrun, IPD South Africa managing director, said...
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ABN Amro shortlists Bouwfonds buyers
REAL ESTATE - Bouwfonds, the ABN AMRO property fund put up for sale in December, announced last week that it had shortlisted would-be buyers as credit rating agency Moody’s confirmed it was holding the firm on review for possible downgrade. ...
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UK relents on REITS – but leaves the cap on
REAL ESTATE - The UK real estate industry last week celebrated near-total victory in its bid to remove controversial conditions affecting companies that set up REITs from January 2007. IPE Real Estate reported in February that industry bodies incl...
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Unilever scheme holds real estate at 15%
REAL ESTATE - Progress, Unilever’s Dutch pension fund, is to maintain its real estate allocation at around 15%, despite a stunning outperformance in 2005 from equities, which returned 30.2%. Real estate in 2005 generated a return of 8.2%, a...
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CBRE loses German chief Piñol
REAL ESTATE - CB Richard Ellis’s Germany managing director and investment advisory services director Guido Piñol is to join Fortress Investment’s German operations as managing director next month. Piñol will head Fortress...
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IVG leases Brussels plaza to EU
REAL ESTATE - IVG Immobilien has leased its Brussels Madou Plaza building to the European Union under a 27-year lease. The parties have signed an agreement not to disclose details of the contract. More than 1,200 civil servants from the EU, the Eu...
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UCITS door ajar for open-ended funds
REAL ESTATE - The European Parliament’s Committee on Economic and Monetary Affairs has called for a pan-European investment framework for open-ended real estate funds. The move follows a report issued by the Committee of European Securities ...
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Sponda results signal Finnish recovery
REAL ESTATE - Helsinki’s office market is showing the first signs of recovery, though it remains vulnerable to short-lease expiries, according to Merrill Lynch. In research note issued by the bank on Finnish property management firm Sponda,...
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Online property derivatives trade in offing
REAL ESTATE - Independent pricing provider Tullet Prebon and e-trading firm Propex are teaming up to deliver the first real estate derivatives trading platform. Under the partnership agreement, Propex, the main data exchange for real estate-holdi...
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Morley, CBRE launch global REITs fund
REAL ESTATE - Morley and CB Richard Ellis will jointly launch a global REIT fund. The Aviva Funds Global REIT fund, the sub-fund of a Luxembourg SICAV, will invest in listed real estate securities in markets with REITs. The partners said the REIT...
