Top Stories – Page 1047
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Iowa PERS to conduct search for REIT manager
GLOBAL – The Iowa Public Employees Retirement System is set to conduct a search for a real estate investment trust (REIT) manager focusing on the US market.
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Institutional investors ideal for plugging real estate funding gap
GLOBAL – Debt may be the newer, safer equity, according to Mercer.
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VastNed Retail builds up Turkish portfolio to €90m
TURKEY – Pan-European retail property fund VastNed Retail has acquired its seventh prime high street shop in the heart of Istanbul, taking its total investment in Turkey to €90m.
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Capital Symonds launches real estate advisory, management arm
UK – Capita Symonds, a subsidiary of outsourcing giant Capita, is merging its former construction project management business with the recently acquired NB Real Estate to create a global "end-to-end" property advisory and asset management offering.
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Monday people roundup
GLOBAL – Europa Capital, Hearthstone Investments, CB Richard Ellis Investors, Savills, Residential Land
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Deutsche Bank's RREEF buys industrial portfolio in US Pacific Northwest
GLOBAL – RREEF, the real estate investment management business of Deutsche Bank's Asset Management division, has acquired the 940,654 square foot Kent Valley Industrial Portfolio in Kent and Tukwila, Washington.
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Ontario pension funds take over UK's high-speed rail network
UK – The UK government has sold the high-speed rail network connecting London to the Channel Tunnel to two Canadian pension funds for £2.1bn (€2.43bn).
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Texas Teachers-backed property fund makes first investment
GLOBAL – An office building investment fund backed by the Teacher Retirement System of Texas has completed its first investment.
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Orange County Employees mulling investment in Buchanan, Cornerstone funds
GLOBAL – The Orange County Employees Retirement System (OCERS) in the process of evaluating three new funds – managed by Angelo, Gordon & Co, Buchanan Street and Cornerstone Real Estate Advisors – as part of its value-added investment strategy.
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OPERS considering €143m investment in Credit Suisse secondary market fund
GLOBAL – The Ohio Public Employees Retirement System (OPERS) is conducting due diligence on a $200m (€143m) commitment to Credit Suisse's Strategic Partners V Real Estate fund.
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Pradera begins raising capital for UK retail park 'club fund'
UK – Pradera UK has secured £75m (€85.6m) from a European pension fund to invest in UK retail parks and is hoping to raise a further £175m from several other investors currently undertaking due diligence.
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ING REIM forecasts broad European rental recovery in 2011
EUROPE – Prime real estate rents in Europe are to see a broad-based recovery from 2011, despite doubts over the economic outlook, according to ING Real Estate Investment Management.
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UK commercial rally running out of steam, says IPD
UK – Investment Property Databank (IPD) has warned that the rally in the UK commercial real estate market is all but over, with the third quarter seeing the shallowest period of capital growth in 2010.
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Norway's Pension Fund Global Fund makes first foray into real estate
EUROPE – Norges Bank has made its first real estate investment for the Norwegian Government Pension Fund Global, acquiring a 25% stake in The Crown Estate's Regent Street portfolio in London.
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Ignis launches separate real estate arm, appoints Hutcheson as MD
UK – Ignis Asset Management has launched a standalone real estate business following inflows of more than £800m (€923m) into its existing property funds in 2010.
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Swiss investor tenders $1.8bn mandates for Latin America, Asia Pacific and Canada
IPE – A Swiss institutional investor is looking to award three direct real estate mandates worth more than $1.8bn (€1.3bn), using IPE Quest.
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Irish commercial real estate continues to slide, IPD says
IRELAND – The commercial real estate market in Ireland continued to see declines in capital values in the third quarter, meaning the market has been falling for more than three years, according to Investment Property Databank (IPD).
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CPPIB, LaSalle join forces on German shopping centre
GLOBAL – DEGI Europa, the open-ended real estate fund in the process of liquidating its assets, has sold a shopping centre in Germany for €157.3m to the Canada Pension Plan Investment Board (CPPIB) and LaSalle Investment Management.
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Goodman, Europa Capital to develop UK logistics
UK – Goodman and Europa Capital have entered into a joint venture to acquire land sites in the UK for the development of distribution and logistics properties.
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Penn State Employees to change benchmark for real estate investment
GLOBAL – The Pennsylvania State Employees Retirement System has decided to change its benchmark for private real estate investment.
