Â鶹ӳ» Alternatives News – Page 366
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Preqin reveals record debt interest
GLOBAL – Distressed debt fundraising from institutional investors reached record highs in 2008 as a result of the volatile markets, according to Preqin’s latest monthly report.
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Pension funds to raise real estate holdings to over 10%
GERMANY – German retirement vehicles are among the institutional investors planning the largest increase in their real estate holdings over the next two years, according to research conducted by Feri Advisors.
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Illinois Teaches ends two separate account relationships
UNITED STATES – The Teachers Retirement System of the State of Illinois is terminating separate account relationships with Commonwealth Realty Advisors and Stone Levy, and has asked Heitman to manage some of the assets instead.
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CalSTRS mulls shift to discounted property debt
US – The California State Teachers’ Retirement System (CalSTRS) is considering increasing its target allocation to real estate as the Board proposes temporarily shifting $6bn from global equities to higher returning debt investments.
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S&P predicts further gloom in US housing
US – The residential real estate market in the United States looks set to continue falling in 2009 after house price declines reached record lows at the end of 2008, according to Standard & Poor’s Case-Shiller Home Prices Indices.
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Hotels sector advised to build the brands
GLOBAL – Hotel markets worldwide will continue to suffer in 2009 but operators should use the downturn to step up their game, according to a report by Ernst & Young (E&Y).
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Outflows hit Invista REIM’s results
UK – Invista Real Estate Investment Management suffered a 32% drop in revenue in 2008, according to preliminary results for the year.
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Canadian real estate hits 14-year low
CANADA – Canadian real estate returns fell 12.1% in 2008 to a 14-year low, according to figures released by Investment Property Databank (IPD).
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CalPERS signs real estate exec
US – The California Public Employees’ Retirement System (CalPERS) has appointed James Lasher as senior portfolio manager of its real estate housing portfolio.
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Axa keeps on growing real estate
SCANDINAVIA – AXA Real Estate Investment Management (AXA REIM) has increased its retail investments and expanded its team in the Nordic and Baltic regions.
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Banks take over Spain’s real estate giant
SPAIN – Metrovacesa SA, Spain’s largest property firm, has handed over majority control of the company to six of its creditor banks in exchange for debt.
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Axa taps European housing opportunities
EUROPE – AXA Investment Managers’ German branch has launched a residential fund for institutional investors following their increased appetite for the sector.
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IPD predicts further gloom for Ireland
IRELAND – Ireland’s real estate industry has tough times ahead and is unlikely to recover any time soon, according to analysts at the SCS/IPD Annual Results presentation in Dublin this week.
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Property investment slumped €335bn last year
GLOBAL - Global investment in commercial property plummeted 59% to $435bn (€335bn) in 2008 and is likely to fall further in 2009, according to Cushman & Wakefield’s Investment Atlas 2009 analysis.
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ProLogis sells remainder of PEPF II
EUROPE – ProLogis European Properties (PEPR) has decided to sell its one-third stake in the ProLogis European Properties Fund (PEPF) II to further de-leverage the firm.
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British Land halves Meadowhall stake ahead of rights issue
UK – The British Land Company has exchanged contracts with London & Stamford Property to sell a 50% interest in the freehold of the Meadowhall Shopping Centre near Sheffield, but it is also raising additional funds through a £740m (€819.49m) rights issue.
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Demands spark student accommodation drive
UK – Coral Portfolio and Strutt & Parker Real Estate Financial Services (SPREFS) are launching a student accommodation fund in response to strong market demand.
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Klépierre rolls on with real estate sale
FRANCE – Klépierre, the French real estate investment company, will continue its disposal programme to boost liquidity and expects positive growth in 2009, executives announced yesterday.
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French property market 'must adapt to survive'
FRANCE – Property experts have predicted the French real estate industry is set to deteriorate even further in 2009 as a result of the financial crisis and will have to adapt itself to investors’ demands in order to recover.
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Oregon PERF swaps one deal for four
UNITED STATES - Oregon Public Employees Retirement Fund has terminated a real estate investment trust (REIT) relationship with Cliffwood Properties LLC and signed deals with three other managers to diversify its risk.
