Top Stories – Page 1100
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Office deal spreads EPISO assets across France
EUROPE – The European Property Investors Special Opportunities (EPISO) fund has increased its property holdings in France after purchasing a €145.6m portfolio from Credit Agricole Asset Management.
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Ontario begins foundations outside Canada
UK/CANADA – Ontario Municipal Employees Retirement System (OMERS), one of Canada’s largest pension funds with net investments of CA$52bn (€32.4bn), is expanding its global presence with the opening of an office in London.
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Dip in property values lower French and Japanese gains
FRANCE/JAPAN – Commercial real estate returns in the French and Japanese property investment markets have quickly slowed to deliver lower returns, the IPD’s biannual studies have revealed.
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Merrill to invest $2.65bn in Asian real estate
ASIA – Merrill Lynch has closed its Asian Real Estate Opportunities Fund after raising $2.65bn for investments despite the turbulent economic climate.
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Investors call for Thai real estate rule change
THAILAND – Thailand’s government is being urged to relax foreign ownership regulations governing real estate, in a bid to shore up its residential property market during the global economic downturn.
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Financial stress showing on apartment complex
UNITED STATES- The Stuyvesant Town/Peter Cooper Village apartment complex in New York, which is backed financially by pension funds, is going through some financial stress.
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Mass PRIM makes additions in real estate
UNITED STATES - Massachusetts Pension Reserves Investment Management Board has selected a new real estate consultant and added an office building to its real estate portfolio.
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GIC to invest in debt fund worth $2.5bn
UNITED STATES - Divco West Properties and LoanCore Capital have come together to form a $2.5bn (€1.8bn) investment fund which will target real estate debt opportunities at major institutional investors such as Singapore’s GIC.
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Federal Capital attains $230m in first fundraising
UNITED STATES - Federal Capital Partners has closed its first commingled fund with a capital raisin of $230m (€168.5m) through FCP Fund I.
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Buchanan Street Partners to be principal investor only
UNITED STATES - Buchanan Street Partners has shifted its business to focus solely on acting as a principal investor for all of its real estate investments.
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Pan-European retail sustainability standard launched
EUROPE- Bre Global, a property research and consultancy group specialising in the assessment of the environmental and social impact of property developments, has launched what is said to be the first pan-European retail sustainability standard – a ‘green’ code of practice designed to ensure commercial development projects have minimal impact ...
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Emerging markets real estate to feel the pinch
GLOBAL - The International Monetary Fund (IMF) has warned the real estate sector in the emerging markets will not be immune from the global credit crisis, contrary to the prediction of many analysts.
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Laxton to head UK charge of Cushman & Wakefield
UK - Cushman & Wakefield, the global real estate consultants and investment firm, has appointed Bryan Laxton as chief executive officer of its UK business from January 2009.
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Behringer Harvard opens door to European expansion
EUROPE – Behringer Harvard, the US-based international commercial property investment fund specialists, has extended its European range with several acquisitions in Central Europe.
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Hermes’ trial to measure financial impact of carbon reduction
EUROPE – Hermes Real Estate is to launch Hermes Emissions Trading Scheme (HETS) in a bid to prepare the asset management firm and its tenants for the Government’s introduction of the Carbon Reduction Commitment (CRC) in October 2009.
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Italian real estate held ground in H1
EUROPE – The total return of Italian pooled property funds dropped during the first half of 2008 but still managed stay in positive territory of 4.1%, according to the latest results from IPD’s Italian Pooled Property Fund study.
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Brazil’s FUNCEF to tackle equity fall with real estate
BRAZIL – FUNCEF, Brazil’s third-largest pension fund and one of the largest in Latin America, plans to allocate approximately BRL520m (€611m) to the fund’s real estate portfolio in a bid to diversify its assets following a huge drop on its chosen equity index
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Dumfries reviews real estate manager and allocation
UK – Dumfries and Galloway pension fund is looking to appoint a pension fund investment manager to manage up to £45m (€58.2m) in its UK and global property assets.
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Swiss pension funds buy Bern housing land
SWITZERLAND – Swiss pension funds have increased their real estate investments in Bern, by acquiring residential fields for new development projects.
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Market pressures force fund extensions
EUROPE – Non-listed real estate funds are increasingly extending the life of their vehicles rather than liquidating them in a bid to avoid the forced sale of their assets at current low market prices, the European Association for Investors in Non-listed Real Estate Vehicles (INREV) has found.
