Top Stories – Page 1147
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Harvard Endowment invests in BayNorth’s new $473m fund
REAL ESTATE – US-based BayNorth Capital LLC has completed raising capital for its latest investment fund, BayNorth Realty Fund VII, with a total of $472.5m (€356m) contributed. One of the more significant investors in the fund was the...
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Norway follows Denmark with record returns
REAL ESTATE - The Norwegian property market returned 17.6% last year – its highest return since the index launched in 2000 – but the property market still performed below equities, which returned 32.4%. But the figures, published last...
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Michael Koch found guilty of corruption in Frankfurt court
REAL ESTATE – Michael Koch, the central figure in the 2004 bribery scandal that engulfed German real estate fund provider Deka, was found guilty of corruption by a Frankfurt court but will not go to jail. Instead, the Frankfurt court sentenc...
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Aberdeen settles REO split cap lawsuit
REAL ESTATE - Fund management firm Aberdeen is to pay Real Estate Opportunities (REO) £30m (€44m) to settle a lawsuit brought by the split capital trust. Aberdeen and Swiss bank UBS, which REO also sued, advised REO on a 2001 listing i...
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Washington State approves over $800m in real estate
REAL ESTATE- The Washington State Investment Board has taken action to place more than $800m (€601.4m) into new real estate investments. The pension fund made these investment decisions at its board meeting recently. One decion was a follow...
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LA Fire & Police is looking hard at Stratford fund
REAL ESTATE - Los Angeles Fire & Police Pension System is looking into making a commitment to a new commingled fund, Stratford Land Fund III. But the pension fund will not be making a final decision until its gets a report on the commingled...
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LACERA makes first medical office investment
REAL ESTATE - The Los Angeles County Employees Retirement Association has placed its first ever investment in medical office buildings. This was accomplished with commitment of up to $25m (€19m) into the LaSalle Medical Office Fund II.
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CalPERS undertakes a major real estate review
REAL ESTATE - The California Public Employees Retirement System will be undertaking an overall review of its real estate portfolio and strategy over the next few months.
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Vesteda in Netherlands mulls cross-border operations
REAL ESTATE - The €4.5bn residential Dutch property investor Vesteda is considering starting cross-border operations, it has announced. "The Netherlands has a closed housing market, in which the government decides the prices in almost...
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San Joaquin County opts for value-add-opportunity funds
REAL ESTATE – The San Joaquin County Employees Retirement Association has approved an investment plan for 2007 that will be placing $60m (€45.5m) to $100m into a mixture of either value-added or opportunistic commingled fund commitments....
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Sicilian launch for public building fund
REAL ESTATE - Pension funds will be offered 10% of a fund set up this month to invest in Sicilian public buildings. Fondo Immobiliare Pubblico Regione Siciliana (FIPRS) – a joint venture between the region of Sicily, Deutsche Bank real esta...
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Los Angeles City approves new emerging manager policy
REAL ESTATE – The Los Angeles City Employees’ Retirement System has approved a new emerging manager policy for its real estate investment plan. The pension fund made this decision in conjunction with its real estate consultant Townsend...
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New Interpolis-Achmea property company names directors
REAL ESTATE - Three former directors of the merged property companies of Interpolis and Achmea will head up the new Netherlands-based organisation. The new real estate company, which is yet to be named, has appointed former Interpolis Vastgoed exe...
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Canadian plan makes first move into US market
REAL ESTATE - The Canada Pension Plan Investment Board makes its first major move into the US with a $500m (€378.3m) investment with TIAA-CREF Asset Management. Graeme Eadie, senior vice president of real estate investments for CPP Investmen...
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Dutch 2006 commercial returns rise to 12.5%
REAL ESTATE - The total returns on all commercial property in the Netherlands were 12.5% in 2006, ROZ-IPD Netherlands Property Index has reported. Returns have increased for the fifth consecutive year, and were the highest since 2000, the property...
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Italy matures as investors look beyond prime
REAL ESTATE - Pressure on yields in the maturing Italian office market is pushing investors towards secondary cities and alternative sub-classes, according to a report published by property firm Savills. Continuing demand for prime locations will...
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Danish yields near record highs of 2005
REAL ESTATE - Yield compression drove returns for Danish real estate up to 17.8% in 2006, according to property data group IPD. This is the second highest return since the index launched in 2000. Overall, yields on Danish real estate fell by 60 b...
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European property market turnover hits €227bn in 2006
REAL ESTATE - The European commercial real estate market has doubled over the past two years, According to a CB Richard Ellis report just published, turnover increased 46% last year to €227bn, following an increase of 47% the previous year....
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Investors should communicate concerns to managers - INREV
REAL ESTATE - "INREV works hard to persuade fund managers to provide more comprehensive data, but investors also have a role to play in encouraging managers to do this as well," INREV CEO Lisette van Doorn spelled out to IPE Real Estate at ...
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DIM Vastgoed to sell entire US retail portfolio
REAL ESTATE – Dutch property investor DIM Vastgoed is considering selling its entire $505m (€380m) portfolio of US retail centres. The company aims to profit from the "current exceptionally favourable sellers’ conditions in...
