Top Stories – Page 1113
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Illinois Teachers harvests farming growth
UNITED STATES – The Teachers Retirement System for the State of Illinois has sold its entire agricultural real estate portfolio for $340m (€220.2m) to TIAA-CREF.
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Property investors see "mixed blessing" in SWFs
GLOBAL - Sovereign wealth funds' (SWF) growing appetite for core real estate is a mixed blessing for the institutional market, delegates heard at the IPD European Property Investment Conference in Berlin this week.
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LaSalle rides the Mexican real estate bull
UNITED STATES - LaSalle Investment Management believes Mexico as a country has strong real estate fundamentals for future investment possibilities as middle-class demand is creating new commercial projects.
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Pennsylvania puts $925m beyond the core
UNITED STATES - Pennsylvania Public School Employees’ Retirement System has approved $925m (€598.8m) into new real estate investments through a variety of non-core commingled funds.
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Waterton moves into hotel
UNITED STATES - Waterton Associates is set to create a hotel investment fund for the first time in the company’s history.
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LA Fire and Police survey property risks
UNITED STATES - Los Angeles Fire and Police Pensions are considering investing as much as $300m (€194.1m) in real estate this year as part of its 2008 investment plan.
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Bank of Finland scheme awards real estate mandate
FINLAND – Suomen Pankki, the Bank of Finland Pension Fund, has awarded Aberdeen Property Investors a real estate mandate valued at approximately €10m.
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Austrian property outperforms, despite sector fall
AUSTRIA - Austrian real estate returns outperformed both equities and bonds in 2007, despite a decline in retail – the best performing sector.
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Sponda sticks with Russia despite Finnish optimism
RUSSIA – Sponda’s chief executive Kari Inkinen said the Finnish property firm was on course for its planned Russian expansion despite a fall in interim profits from the same period last year.
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Pirelli punts on Euro-property fund
EUROPE - Pirelli Real Estate is targeting international pension funds with an opportunistic pan-European property fund it plans to launch early next year.
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UK residential ready for institutions
UK - The UK residential market is ready for pension fund investors despite being fragmented and dominated by amateur property managers, according to property firm Nice.
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Market, not credit, deters UK buyers
UK - Property investors are willing to borrow given the right terms, but they’re still not convinced the UK market is cheap enough to buy in, according to Jones Lang LaSalle.
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Texas Teachers approves $862.5m in new structures
UNITED STATES - Teacher Retirement System of Texas approved $862.5m (€557.9m) in real estate commitments in April, including one deal which has the structure of a commingled fund but is in fact a separate account.
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NYSTRS approves $405m for real estate
UNITED STATES - New York State Teachers Retirement System (NYSTRS) has approved $405m (€260.4m) in new real estate commitments to non-core strategies.
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LaSalle creates hotel JV
UNITED STATES - LaSalle Investment Management and public Reits LaSalle Hotel Properties have formed a $700m (€455.3m) joint venture to invest in US hotels.
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Pennsylvania State commits to senior housing fund
UNITED STATES - Pennsylvania State Employees Retirement System has already approved a $25m (€16.2m) commitment to Senior Housing Partners IV commingled fund.
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TIAA-CREF moves into commingled space
UNITED STATES - TIAA-CREF has created its first commingled fund to be backed by third-party investment capital.
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UK shopping centre investors and developers stall
UK - Investors are holding off from acquisitions in the UK as shopping centre developments stall amid a funding crisis, according to two specialists at property consultancy Savills.
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Pricing and rents repeal increase Poland’s appeal
POLAND - Upward-moving rents and “rational” pricing are boosting the acquisition appeal of Polish property assets, according to James Rushworth, European property director at Standard Life Investments.
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Q1 hike in UK derivatives trading
UK - The value of trading in UK property derivatives doubled to £3.7bn (€4.5bn) in Q1 2008 as investors increased their use of swaps to hedge exposure to real estate, according to figures from the IPD UK All-Property index.
