All articles by Shayla Walmsley – Page 62
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News
Schemes raising allocations – AREF’s Cooper
REAL ESTATE - Pension funds can’t get enough of real estate, according to Association of Real Estate Funds (AREF) chairman Nick Cooper, with many of those already in the market increasing their holdings to 10% and above. “Pension fun...
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Danica to freeze real estate allocation
REAL ESTATE - Danica Pension, Denmark’s largest life insurer, is to freeze its real estate holdings after announcing plans to increase its equity holdings from 16% to 20%-25%. The A+ rated insurer, which invests primarily in the Danish mar...
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Finnish state fund hails Aberdeen’s AIPP
REAL ESTATE – The state pension fund of Finland has said how pleased it – as one of the lead investors – is with the first year of the Aberdeen Indirect Property Partners (AIPP) Fund. The fund-of-fund announced final closing at t...
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Partnership targets ‘low risk’ PPP projects
REAL ESTATE - Land Securities Trillium and Mill Group have formed a 50/50 joint venture to bid for UK public private partnership (PPP) projects. The venture, Investment in the Community, will expand on Mill Group’s programme of the same nam...
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Henderson sets up property fund of funds
REAL ESTATE - Henderson Global Investors has launched what it says is Europe’s first property fund of funds. The Indirect Property Fund Europe will invest in “eight or nine” funds across sub-sectors and geographical locations. ...
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UCITS real estate definitions revamped
REAL ESTATE - More closed-end real estate funds could be marketed across Europe if the European Commission heeds advice from the Committee of European Securities Regulations (CESR). In a note published at the end of January, the CESR, which a...
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GE venture bags Italy business
REAL ESTATE - GE Real Estate is to buy part of Italian bank Unicredit’s non-performing loans business as part of a joint venture with ABN AMRO. In the recently concluded first tranche of the €1.8bn deal, the partners paid €269m ...
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Tishman closes $1bn fund
REAL ESTATE - Asset manager Tishman Speyer has closed its largest fund to new investors after raising more than $1bn to invest in high-end US commercial property. The Tishman Speyer Real Estate Fund VI has invested in nine properties to date, inc...
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SWIP buys City offices, sells shops
Scottish Widows Investment Partnership (SWIP) is to acquire Halsbury House, a central London office property, for £35m. SWIP spokeswoman Beth Cameron said the current tenant, Reed Elsevier subsidiary Lexis Nexis, would continue as the building&#...
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Mapely to issue more shares and buy more offices
Mapeley, the Fortress-backed firm set up to bid for privatised UK public-sector property, says it will raise £100m from a share issue at the end of January. The firm, which floated last year, will use the proceeds of the new sale to buy more...
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Hypo sells more debt but holds out for best deal on the rest
HypoVereinsbank has sold some of its non-performing real estate loans to Goldman Sachs for €2.17bn. But the German bank claims it’s in no hurry to hive off the remaining 50% of a portfolio that no longer fits its strategy. “We&#...
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Invesco poaches Rodamco’s Monge for Spanish acquisition
Invesco Real Estate has appointed Alejandro Monge to head its Spanish acquisitions. He joins from Rodamco, where he was head of investment responsible for the acquisition and sale of real estate assets. Having built a Spanish portfolio worth ...
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More risk for little extra return
Real estate investors will have to take on more risk to secure only marginally higher returns, according to Investment Strategy Annual, a survey of global real estate markets by LaSalle Investment Management. But the report believes European off...
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News
UBS eyes Paris, buys in Munich
UBS has acquired a €50m Munich office block for its recently-launched European office real estate fund, and expects to buy two more offices in Paris. The net initial yield from the German property is 8%. The UBS (Lux) Euro Value-Added Real ...
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Viva España – but Brits don't buy it
UK investors are overcoming their reluctance to invest in continental European real estate – but not quickly enough, according to Ian Hally, head of real estate research at Scottish Widows Investment Partnership (SWIP). The potential for hig...
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LaSalle names Lyon as European finance head
EUROPE - LaSalle Investment Management has appointed Jamie Lyon to head its European finance and operations as it gears up for another year of expansion via increasingly complex deals. Lyon, former finance director of developers ProLogis, will br...
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Hermes real estate team renamed, revamped
UK – Hermes, the asset manager owned by the BT Pension Scheme, has restructured its real estate team in a bid to increase its market savvy. Under the new structure, dedicated fund managers will narrow their focus to concentrate on specific...
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ING Real Estate boosts Asia team
ASIA - ING Real Estate has charged its managing director for Singapore, Peter Wittendorp, with doubling assets under management in Asia to $3bn within two years. Wittendorp, who adds the newly-created position of chief investment officer to his c...
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Colonia names Aareal’s Krauss as CIO
GERMANY – Colonia Real Estate has nabbed Edgar Krauss from Aareal as chief investment officer in a move it hopes will boost its ambitious acquisitions strategy. Stephan Rind, CEO of the Cologne-based firm, said Krauss’s appointment wo...
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Irish reserve fund plans €2bn real estate move
IRELAND – Ireland’s €15.3bn National Pensions Reserve Fund is to divert 8% of its equity holding into real estate over the next five years after a strategic review revealed its cautious asset allocation formula was failing to maximi...
