ΒιΆΉΣ³» Alternatives News β Page 364
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CPPIB and GIC turn to Brazilian real estate
AMERICAS β The Canada Pension Plan Investment Board (CPPIB), investment manager of the $105bn (β¬73.9bn) Canada Pension Plan, has entered into a joint venture with Brazilian property developer Cyrela Commercial Properties (CPP) to invest in commercial real estate in Brazil.
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Rockpoint checks in for US hotel purchase
UNITED STATES - The Rockpoint Group has completed its first acquisition in the United States in 18 months, with the $10m (β¬6.93m) deal to purchase the 434-room Newton Marriott Hotel in Massachusetts.
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Distressed assets are at risk - RCA
US β The sum of US real estate βin distressβ has doubled since the start of the year and the equity of $1.3trn (β¬900bn) investing in US property is at risk, according to data providers Real Capital Analytics.
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Aviva to invest Β£1bn in UK rental housing
UK β Aviva Investors is intending to launch a real estate fund aimed at pension funds and institutional investors that will invest in UK residential assets.
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Florida Board of Administration reassigns MS managed assets
UNITED STATES - Florida State Board of Administration has signed contracts to transfer 85% of the $2.7bn (β¬1.93bn) separate account assets previously managed by Morgan Stanley Real Estate to Heitman, L&B Realty Advisors and Invesco Real Estate.
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South Yorks invests in UK retail development
UK β The South Yorkshire Pension Fund has agreed to fund a shopping centre redevelopment in Wales for Β£11.8m.
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CalPERS in $1bn retail joint venture
US β California Public Employees' Retirement System (CalPERS) has entered into a joint venture with First Washington Realty, which will purchase close to US$1bn (β¬700m) in retail real estate assets from Macquarie CountryWide Trust.
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SBZ begins direct portfolio sell-off
NETHERLANDS - SBZ, the β¬2.2bn Dutch pension fund for care insurer employees, has made its first two disposals of direct property holdings as part of a transition to a wholly indirect real estate exposure.
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German investors return home for safety
GERMANY β Interest in domestic residential property funds is rising among German institutional investors, according to German real estate fund manager Patrizia Immobilien.
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Crisis shrinks CALSTRS real estate commitments
UNITED STATES β The California State Teachers Retirement System made a total commitment to real estate of just $41.1m (β¬29.3m) in the first quarter of 2009, compared with over $1bn in the same period last year.
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Tesco makes second property pledge to pension
UK β Tesco, the global supermarket chain, has signed another sale-and-leaseback deal with pension fund trustees, which will see the fund take a 50% stake in assets worth Β£458m.
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Progress continues on real estate sale
NETHERLANDS - Progress, the Dutch pension fund of food giant Unilever, has sold three housing complexes in Breda, Groningen and Nijmegen as it continues to divest its directly-held domestic real estate portfolio.
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Pension funds show interest in UK housing
UK β European pension funds who would not traditionally invest in UK rental housing may do so for the first time through an initiative to kick start investment in UK private residential property, according to a UK government body.
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UK residential may be on the up β index fund manager
A real estate investment house has claimed investing in UK residential housing βmay have turned a cornerβ, although physical house price rises are still increasing at a very slow rate.
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BP pension fund shops for real estate
UK - The Β£20.3bn (β¬23.1bn) pension fund for BP has bought an out-of-town retail park in the UK and an office building in London, and plans to invest a further Β£100-150m in its domestic real estate market before the end of the year.
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USS keeps shopping for UK real estate
UK - The Β£28bn (β¬31.7bn) Universities Superannuation Scheme has bought large retail and industrial assets in the UK and plans to make more acquisitions in the near future as it looks to rebuild its domestic portfolio.
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F&C Reit sees opportunity in distress
GLOBAL - F&C REIT Asset Management has launched its first fund, an opportunistic institutional vehicle targeting distressed situations in the UK and with an internal rate of return (IRR) of more than 20%.
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Do your βdebtβ due diligence - Partners Group (amended)
GLOBAL - Debt is the new investment buzzword but a warning has been sounded about the critical importance of performing thorough due diligence on real estate debt products.
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Rockwood Capital hits fundraising target
UNITED STATES - Rockwood Capital has closed the money raising on its Rockwood Capital Real Estate Partners Fund VIII just shy of its target, at $964m (β¬720.6m).
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NYSTRS extends its real estate limits
UNITED STATES - New York State Teachers Retirement System has bought a further share in a real estate backed by a European pension fund, as well as extending current management contracts.
