Âé¶¹Ó³» Alternatives News – Page 360
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UK residential returns outperformed commercial property - IPD
UK – Investment grade residential real estate in the UK has outperformed commercial property in the country over the past three, five and nine years, and delivered a double digit total return of 11% in 2009, according to International Property Databank (IPD).
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Spain tops the losses for IPD European returns
EUROPE – Spain experienced its second consecutive year of negative commercial real estate returns in 2009, while Germany and Switzerland remained relatively stable over the same 12-month period, according to Investment Property Databank (IPD).
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Unilever’s Progress nears end of direct real estate divestment
NETHERLANDS – CB Richard Ellis is in negotiations with an unnamed investor to exchange on the remaining assets of the domestic real estate portfolio of Progress, the Dutch pension fund of Unilever.
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Rothschild Realty sees fresh prospects for US housing
UNITED STATES - Rothschild Realty Managers has made a $100m (€74.9m) equity investment with Summit Housing Partners based in Montgomery, Alabama, on the back of renewed confidence in the housing market.
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Ireland’s NAMA takes on property-backed 'bad bank' loans
IRELAND – The Irish government has confirmed its National Asset Management Agency (NAMA), or so-called ‘bad bank’, has started to take €16bn worth of troubled real estate loans on to its books.
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Illinois State to boost real estate holdings by $300m
UNITED STATES - Illinois State Board of Investment has approved plans to invest $300m (€223.1m) in real estate in 2010.
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Pension funds maintain German real estate security
GERMANY – Total returns for German real estate declined for the second consecutive year, but pension funds in the country have continued to focus heavily on their domestic market because it “feels safer�, according to a leading pension fund manager.
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BRIC-built recovery expected - JLL
GLOBAL – The BRIC countries will lead the global real estate market recovery as their economic expansion boosts occupier demand across all sectors and cross-border investment returns, according to Jones Lang LaSalle (JLL).
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APG and Corio to invest €1.3bn in European retail
EUROPE – Pension fund asset manager APG has agreed to help listed real estate company Corio raise enough capital to acquire more than €1.3bn worth of retail assets in Europe.
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Aviva's AIPL investments near €290m
UK – Aviva Investors has acquired more than £260m (€289m) of UK real estate over the last six months for its AIPL vehicle, a low-risk real estate fund for institutional corporate and local authority pension schemes.
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West Midlands bags UK shopping centre
UK – Property company and fund manager Delancey has sold a UK shopping centre for more than £70m (€78m) to the West Midlands Pension Fund.
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Morgan Stanley launches secondaries fund
GLOBAL – Morgan Stanley has launched the first real estate fund of funds vehicle dedicated specifically to acquiring secondary interests in existing funds.
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Texas Teachers seeks growth in agriculture
UNITED STATES - Teacher Retirement System has made its first ever investment in agriculture with a $250m (€145.9m) commitment into the AG Real Value Fund, managed by Teay’s River Investments.
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British Steel pension moves into music store
UK – The British Steel Pension Fund has acquired an HMV music store in Manchester from a private investor for £18.9m (€21.14m) and plans to make further acquisitions over the next 18 months.
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Arizona Public Safety takes opportunistic strategy in real estate
UNITED STATES - Arizona Public Safety Retirement System intends to make at least two more real estate commitments to commingled funds by investing through a US opportunistic strategy in 2010.
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Standard Life snaps up Tesco 'eco' sale-and-leaseback
UK – Standard Life Investments has acquired a Tesco Extra Supermarket in Shrewsbury for its £1.85bn (€2.04bn) Pooled Property Pension Fund.
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Hamborner resurrects German listed real estate with Reit move
GERMANY – Hamborner has become the third real estate company in Germany to convert to a real estate investment trust (REIT) status, prompting speculation that the country’s REIT may finally start to grow.
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CalSTRS loses $83m as Fairfield moves to Chapter 11
UNITED STATES- California State Teachers Retirement System (CalSTRS) has taken an $82.9m (€61.2m) hit in its real estate portfolio as one of its investments, Fairfield Residential LLC, has filed for Chapter 11 bankruptcy protection.
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Responsible investment fund to develop UK care homes
UK – A new socially-responsible real estate fund backed by local authority pension funds has invested in the UK care home sector.
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ING Clarion deal signals market re-entry
UNITED STATES- ING Clarion Partners has shown its belief in the comeback of the real estate market and made its first acquisition in over two years for the Clarion Development Ventures III commingled fund.


