Top Stories – Page 1120
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Environment code to calculate property’s carbon emissions
GLOBAL - The Investment Property Databank (IPD) has launched a majorglobal initiative to help real estate owners measure and understand theenvironmental impact their buildings have, as officials believe suchdata will become a component of future real estate pricing andlegislation.
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Pension funds pull out of Equest
UK - The BBC Pension Trust, SAUL, BHS Pension Scheme and P&O Pension Scheme have sold their shareholdings in Jersey-based property investment firm Equest Partners.
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Fair value potential entices investors back to UK
EUROPE - Continental European property yields will follow the widening UK trend in 2008, “though not to the same extent”, according to Tony Horrell, CEO of European capital markets at Jones Lang LaSalle.
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Sovereign funds to save assets in distress
GLOBAL - Sovereign wealth funds (SWFs) will take over from private equity as they exercise their financial weight by acquiring distressed assets and companies, according to Ernst & Young’s global real estate report.
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Oil powers Canada returns
CANADA - Commercial property in oil-rich provinces contributed to Canadian returns of 16.1%, compared with 10.5% for equities, and 4.7% for bonds, according to IPD figures published last week.
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Spanish spread boosts logistics
SPAIN - Spanish logistics markets are expanding as urban sectoral growth continues at above the national average, according to a Savills report on the country’s warehousing market.
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CalPERS approves €850m in real estate
UNITED STATES - California Public Employees Retirement System has allocation $859.8m (€587.9m) of new real estate investments in commingled funds containing a mixture of local and international real estate, and debt.
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AVP Advisors raises $400m in ‘alternative real estate’ play
UNITED STATES - AVP Advisors attracted $400m ($273.5m euros) of institutional capital, including pension fund assets, to a new type of commingled fund combining indirect investment with direct holdings.
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NYSTRS creates new industrial JV
UNITED STATES - New York State Teachers Retirement System (NYSTRS) has created a new joint venture to invest in western US industrial properties.
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SanFran Employees selects global REIT managers
UNITED STATES - San Francisco Employees’ Retirement System has selected European Investors and ING Clarion Real Estate Securities as its global Reit managers.
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Russell Investments adds real estate staff
UNITED STATES - Russell Investments has expanded its real estate staff with the hiring of Dawne Clark as a portfolio manager.
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Join us in Berlin for IPE Real Estate Awards 2008
EUROPE - The 4th IPE Real Estate Investor Forum & Awards will take place in Berlin on Thursday 22 & Friday 23 May 2008, and pension funds are now being invited to join us for this important gathering.
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UK pension funds look east for storage
UK - UK pension funds see continued traction in Central and Eastern European (CEE) logistics despite concerns over pricing in other segments of those markets.
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GIC acquires Finnish retail
FINLAND - GIC, the €145bn Singapore sovereign wealth fund, has acquired 40% of one of Finland’s largest shopping centres for €131.6m.
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Hotel investors build at home, buy abroad
US/GLOBAL -US hospitality investors are looking to Asia for returns but will face increasing competition from local investors, according to a report by Ernst & Young.
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Strapped UK investors are still shopping
UK/EUROPE - Investors are still confident in the UK shopping centre market despite a sharp drop in transaction values in the second half of 2007, according to a DTZ report.
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KBC Pensioenfonds shifts real estate for LDI
BELGIUM – KBC Pensioenfonds has significantly diversified its real estate allocation within the last eight months, in a bid to match the scheme's liability-driven investment (LDI) strategy.
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Credit crunch cost $3-4trn – JP Morgan
GLOBAL – JP Morgan officials say investment market turbulence sparked by the US subprime housing crisis may already have cost in excess of $3trn (€2.04trn) in lost credit and warn there could be more to come under tightened credit pricing.
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ING Clarion targets $5bn in 2008
UNITED STATES - ING Clarion is expecting to invest $5bn (€3.44bn) in real estate in the United States and Mexico in 2008 - equal to its accomplishments in 2007 despite the recent market downturn.
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Mass PRIM expands REIT program
UNITED STATES - Massachusetts Pension Reserves Investment Management Board has decided to expand its REIT investment program by increasing its allocation by 50%.
