All Real Assets articles in June 2010 (Online)
View all stories from this issue.
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News
Co-investment an outmoded misconception, claims industry veteran
GLOBAL – The effectiveness of co-investment by real estate fund managers to align interests was seriously questioned at this year’s Â鶹ӳ» Real Estate Investor Forum & Awards, part of the IPD/Â鶹ӳ» Real Estate Congress.
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Investors call for clear communication from fund managers
EUROPE – European institutional investors called on real estate investment managers to deliver clearer, pro-active communication and reporting, especially on key areas that would ultimately determine the success or failure of a fund.
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Investors have failed to learn lessons – Valente
GLOBAL – It is not clear whether real estate markets are going through a sustainable phase of recovery or whether it is an illusion driven by capital market liquidity, according to Joe Valente, head of investment strategy at Allianz Real Estate.
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Schroders defends international diversification
GLOBAL – The recovery in the global real estate markets will not be synchronised in contrast to the downturn, marking a return to the traditional benefits of diversification, according to Schroders.
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GIC ‘will not list’ real estate portfolio
GLOBAL – GIC’s European head of real estate today denied reports that Singapore’s largest sovereign wealth fund (SWF) plans to list its real estate portfolio. However, he did not deny that the fund could list a portion of it.
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ING REIM offers access to its funds through single structure
EUROPE – An unnamed Swiss insurer has invested €100m via several of its subsidiaries in an ING Real Estate Investment Management fund of funds (FoF) vehicle launched last week.
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Chinese property policies carry ‘a big if’
CHINA – The Chinese government’s attempts to contain a property price bubble could impact overseas joint-venture investors, according to a China-based economist.
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Global forecast confirms two-tier trend
GLOBAL – The forecast for Europe is cautious, for the US better, and for some of Asia the best of all, according to Jones Lang LaSalle's (JLL) quarterly Global Market Perspective.
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Finnish insurer pays more for long lease logistics
FINLAND – Finnish pensions insurer OP-Henkivakuutus Oy has acquired two assets – one light industrial, the other a warehouse – from a UK fund for €20.7m, reflecting a yield of 7.5%.
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Pension funds to take the train
UK – Pension schemes could be asked to fund the UK’s high-speed rail network under proposals currently before the transport ministry.
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Listed timber fund grows Chinese exposure
CHINA – A London-listed timber vehicle funded mostly by UK and European pension schemes is acquiring Chinese assets in a bid to build up a significant market-specific portfolio.
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Prime continuing to defy fundamentals - King Sturge
EUROPE – King Sturge’s European first quarter survey is the latest to report prime property retaining its value despite a sluggish macro recovery across the continent.
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San Diego City diversifies US domestic portfolio
UNITED STATES – San Diego City Employees’ Retirement System has approved $135m (€111m euros) in new real estate investments follow a consultation with The Townsend Group.
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Virginia bets on JV with Amli Residential
UNITED STATES – Virginia Retirement System has decided to invest $400m ($325m) more of its equity into the real estate sector, three quarters of which will go towards an investment partnership with Amli Residential.
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AP4 acquires €565m of Swedish residential assets
SWEDEN – The Fourth Swedish National Pension Fund (AP4) has made one of the largest ever residential investments in the country.
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Survey shows UK pension funds to increase real estate exposure
UK – More than one-third of UK pension funds with existing real estate investments are actively looking to increase their exposure, while a small number remain unsure about the asset class, according to a survey by Aberdeen Asset Management.
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PGGM won over by SLI's responsible investment credentials
NETHERLANDS/UK – PGGM, the Dutch pension fund asset manager, has invested €75m in a UK shopping centre fund managed by Standard Life Investments.
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US and Ireland set for spike in distressed sales
GLOBAL – Ireland and the US are expected to see a significant increase in distressed real estate sales in the short term, according to research from the Royal Institute of Chartered Surveyors (RICS).
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Interest rate swaps blocking UK disposal pipeline, Savills says
UK – The prohibitive cost of unwinding interest rate swaps on real estate debt is preventing financial institutions from offloading a growing volume of distressed UK assets, according to Savills.
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Mass PRIM fires RREEF as separate account manager
US – The Massachusetts Pension Reserves Investment Management Board has terminated RREEF as one of its separate account managers.
