Â鶹ӳ» Alternatives News – Page 361
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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.
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Wisconsin eyes debt as part of $250m signing
UNITED STATES – The State of Wisconsin Investment Board is in process with making new investments in real estate totalling $250m (€183.9m).
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Mass PRIM to invest $1bn in 2010
UNITED STATES - Massachusetts Pension Reserves Investment Management Board has approved its 2010 annual real estate investment plan and could allocate as much as $1bn (€729.7m) to the asset class over the next 12 months.
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LGP is latest to drive inflation-linking real estate
UK – Legal & General Property (LGP) has become the latest fund manager to offer defined benefit pension funds access to real estate providing inflation-linked income.
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Ohio PERS eyes apartments and mortgages
UNITED STATES – The Ohio Public Employees Retirement System has issued Requests for Information (RFI) concerning separate account managers working in the residential apartments and first mortgage loan portfolios space.
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Cordea Savills to tap income from UK real estate
EUROPE – Cordea Savills has secured capital commitments from three investors, including an unnamed European pension fund, for a new fund that will invest in core, income-producing commercial real estate in the UK.
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ICL pension plan moves into real estate
UK – The ICL Common Investment Fund, the investment vehicle for the ICL pension fund, made its first allocation to real estate in 2009, and invested £33m (€37.3m) through ING Real Estate Investment Management.
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UK pension funds to invest in real estate recovery
UK – Aviva Investors has raised £200m (€226m) from a number of UK local authority and corporate pension schemes for a new fund designed to capitalise on the market recovery in the UK but without using gearing.
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M&G checks real estate assets into Premier Inn
UK – M&G Investments has acquired five Premier Inn hotels for its Secured Property Income Fund, which offers inflation-linked income to institutional investors, including UK pension schemes.
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CPPIB shops for San Diego retail
UNITED STATES – The Canada Pension Plan Investment Board (CPPIB) has completed its first ever joint venture with Donahue Schriber on a retail property in San Diego.
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Hermes swoops on property for BT
UK – Hermes Real Estate has acquired a series of commercial properties, known as the ‘Hawk’ portfolio, on behalf of the BT Pension Fund.
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CPPIB joint venture pursues forced retail sale
CANADA/UK - The Canada Pension Plan Investment Board (CPPIB) has entered into a joint venture with UK property company Hammerson to take advantage of the forced sale of a prime UK retail asset.
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Varma agrees deal for Kesko retail stores
FINLAND – Varma Mutual Pension Insurance Company has entered into a sale and leaseback arrangement with The Kesko Group for 13 its stores, including one owned by the retailer’s pension fund.
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USS beefs up its real estate strategy
UK – Universities Superannuation Scheme (USS) has poached Alex Turner from Hermes Real Estate to manage its UK office portfolio, just as other changes are being made to improve its performance.
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HSBC Pension Fund sells UK real estate holding
UK – The HSBC Pension Fund has sold Wilmslow Park in central Manchester to Legal & General (L&G) Property’s Managed Fund.
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UK’s Merchant Navy Pension rebalances real estate
UK – The Merchant Navy Officers Pension Fund (MNOPF) has sought to rebalance its UK real estate portfolio and sold three commercial real estate assets in the UK, for almost a third more than recent valuations.
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BP pension fund and GPE buy a piece of London’s Regent St
UK – F&C REIT Asset Management and AREA Property Partners have sold one of the top assets from the Dawnay Day portfolio they acquired in March to the BP pension fund and Great Portland Estates (GPE).
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Merchant Navy sells Waitrose property (amended)
UK – Wilky Fund Management has sold a Waitrose supermarket store in Cheadle Hulme on behalf of the Merchant Navy Officers Pension Fund, which is considering reducing its real estate exposure.
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Pension funds to tap struggling US hotels market
UNITED STATES- US pension funds are returning to the real estate investment market to plug into opportunities in the struggling upscale hotel market.
