Top Stories – Page 1114
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ABP-owned firm sells office portfolio
EUROPE - Corio, the Dutch property firm 37%-owned by the €220bn ABP pension fund, has sold its Dutch office portfolio for €650m - 1.5% below book value.
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Aberdeen buys real estate rival Goodman for £109m
GLOBAL – Aberdeen Asset Management’s real estate subsidiary Aberdeen Property Investors has snapped up a deal to buy its rival Goodman Property Investors for £109m (€140m).
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ATP buys a harbour view
DENMARK - ATP Real Estate, the property arm of Denmark’s DKK350bn (bn) labour market supplementary fund, is investing DKK700m in a “ground-breaking” office block development in Copenhagen’s harbour area.
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Morgan Stanley brings $2.5bn to Special Sits III
UNITED STATES - Morgan Stanley Real Estate has attracted $2.5bn (€1.6bn euros) of institutional capital for the latest round of fund raising for Special Situations Fund III.
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Pramerica creates UK senior housing vehicle
UNITED STATES - Pramerica Real Estate Investors has setup a new co-investment entity to invest in senior housing in the United Kingdom, to sit alongside its PRECO III commingled fund.
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Indiana PERF moves $150m into real estate
UNITED STATES - Indiana Public Employees Retirement Fund has approved commitments totaling $150m (€
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Orange County works on commingled fund manager search
UNITED STATES - Orange County Employees Retirement System is nowworking on a search to hire new commingled fund real estate managers.
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Nebraska adds to real estate portfolio
UNITED STATES - Nebraska Investment Council has expanded its real estate portfolio by making a $25m (€16.1m) commitment to the Five Arrows Realty Securities V commingled fund.
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Swiss property exposure hits all-time high
SWITZERLAND– Swiss pension funds increased their average real estate allocation by 1.48 percentage points to a new record high of 17.2% over the lastquarter, despite the continuing financial crisis, the Credit SuissePensionskassenindex shows.
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INREV follows for the fashion for style
EUROPE – INREV, the European Association for investors in non-listed real estate funds, has introduced a ‘style’ index to help pension funds and institutional investors can benchmark their funds by investment style.
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Real estate sector pressed to embrace 'professionalisation'
GLOBAL – Fund managers in the real estate investment market will face increasing calls for the transparency, standardisation and ‘beta-matching’ lower fees which investors now expect in other asset classes, speakers at the INREV annual conference have suggested.
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GE RE deal shows debt still in the black
EUROPE - GE Real Estate’s acquisition of European commercial property loans worth €1.27bn indicates a resurgence of property debt as an investible asset class, according to sources close to the firm.
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Investors "will continue to buy infrastructure"
GLOBAL - Investors including pension funds will continue to invest in core European infrastructure assets despite halting privatisation processes, the credit squeeze and political opposition, according to a new report by Ernst & Young.
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Venture with SWF shows debt still in the black
UK/MIDDLE EAST – An Abu Dhabi sovereign wealth fund (SWF) is to pump £200m (€250m) into London & Stamford via a seven-year joint venture aimed at building a war chest for UK acquisitions.
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OUTSTANDING INDUSTRY CONTRIBUTION - the final vote
IPE REAL ESTATE AWARDS - The nominations are in and you now have the chance to select who you think should win the IPE Real Estate Award for Outstanding Industry Contribution
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Investor interest lifts non-core Rockpoint to $2.5bn
UNITED STATES - Rockpoint Group LLC has attracted $2.51bn (€1.58bn) of equity for its latest commingled fund, Rockpoint Real Estate fund III but says the sum could have been larger on the back of investor demand.
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DRA invests half of its new $1.25bn fund
UNITED STATES - DRA Advisors has already spent around 50% of the $1.25bn (€787.4m) of equity it has just finished for its DRA Growth and Income Fund VI.
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Washington State outshines Oregon’s commitment to Lone Star
UNITED STATES - Washington State Investment Board has approved a commitment of up to $600m (€375.1m) into the Lone Star Fund VI commingled fund.
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Canyon Capital raises $1bn for urban fund
UNITED STATES – US-based pension funds were among the biggest investors to Canyon-Johnson Urban Fund III, which has received equity commitments from investors totaling $1bn (€627.4bn).
