Top Stories – Page 1115
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State of Virginia pursues $300m opportunity
UNITED STATES - Virginia Retirement System has made a $300m (€188.5m) commitment to the investment entity Security Capital Income Opportunity Investors, LLC.
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European property returns hit by currency pressure
EUROPE – Unlisted European real estate funds saw a negative return on their investments of –3.9% in 2007, driven by the very poor performance of the UK property market as well as currency conversion pressures attached to the dollar and euro.
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FSP outsources residential admin
DENMARK - Finanssektorens Pensionskasse, the Danish pension scheme for financial sector workers, has outsourced the administration of its Danish residential properties and leases to Dan-Ejendomme.
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UK calls in green experts as EC targets shoppers
UK - The UK government is to examine existing buildings as part of a 'greening' agenda dominated to date by concerns over new-build standards.
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European retail needs 'further distinction'
EUROPE - Investors need to replace the distinction between Western and Eastern European real estate markets with one between mature and maturing Europe, ING Real Estate Development CEO Menno Maas said last week.
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Retail will continue to attract cross-border investment
EUROPE - Shopping centres will continue to attract cross-border property investments because they offer secure income and low risk, according to René Tremblay, CEO of Ivanhoe Cambridge.
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UK residential 'risky' despite 2007 returns
UK - Market fragmentation and unfavourable tax treatment are scuppering attempts to widen investment in the UK residential, Savills director Jacqui Daley said last week.
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€91m spring clean at IVG
GERMANY – German real estate asset manager IVG has sold €91m in German property to London-based real estate private equity investor CIT Europe.
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Peace agreement sees New York make Emerald investment
UNITED STATES- Four New York City pension fund have committed to invest $150m (€94.1m) into the Emerald Infrastructure Development Fund LP, which in turn invests capital in Northern Ireland.
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Kansas PERS issues real estate consultant RFP
UNITED STATES - Kansas Public Employees Retirement System has sent out a Request for Proposal for a new real estate consultant.
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Illinois Teachers signs two core accounts
UNITED STATES - Teachers’ Retirement System of the State of Illinois has hired Cornerstone Real Estate Advisers and Invesco Real Estate as its new core separate account real estate managers.
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Mass PRIM places all REITs in one week
UNITED STATES - Massachusetts Pension Reserves Investment Management Board is a good example of the difference of investing in public and private real estate, as in the first week of March, the pension fund was able to place its entire REIT allocation for the year, worth $540m (€342.1m), in the ...
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Kimpton books $246m into hotels
UNITED STATES - Kimpton Group Holding raised $246m (€155.6m) through institutional partners for its latest hotel investment fund, Kimpton Hospitality Partners II.
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Pension funds eyed for regional infrastructure
UK - Pension funds could be targeted for investment in a £1bn (€1.25bn) UK regional fund, set up to invest in small-scale and transport infrastructure projects.
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NZ scotches CPPIB airport deal
NEW ZEALAND - Canada Pension Plan Investment Board (CPPIB)’s long-running attempts to acquire a stake in Auckland International Airport (AIAL) collapsed last week after the New Zealand government refused to approve its application under the Overseas Investment Act.
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Sponda goes to the docks
FINLAND - Finnish property firm Sponda has agreed a €12m deal with the Port of Helsinki to build a harbour service centre at Vuosaari.
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INREV plans Asian expansion
EUROPE - The European Association for Investors in Non-listed Real Estate Vehicles (INREV) is to expand into unlisted Asian property.
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Direct property is a winner for SPOV
NETHERLANDS - Direct property was the best returning asset class of the €2.4bn pension fund for public transport SPOV in 2007, generating a return of 11.4%.
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IPE Real Estate Awards seeks outstanding contributions
There's only a few days to tell us who YOU think should be rewarded for their outstanding work in Europe’s Real Estate Industry over the last 18 months.
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Urdang raising hit by European pensions retreat
UNITED STATES - Urdang Capital Management did not reach the expected initial capital raising for its latest commingled fund, the Urdang Value-Added Fund II.
