ΒιΆΉΣ³» Alternatives News β Page 374
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Pricing and rents repeal increase Polandβs appeal
POLAND - Upward-moving rents and βrationalβ pricing are boosting the acquisition appeal of Polish property assets, according to James Rushworth, European property director at Standard Life Investments.
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Pramerica creates UK senior housing vehicle
UNITED STATES - Pramerica Real Estate Investors has setup a new co-investment entity to invest in senior housing in the United Kingdom, to sit alongside its PRECO III commingled fund.
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Orange County works on commingled fund manager search
UNITED STATES - Orange County Employees Retirement System is nowworking on a search to hire new commingled fund real estate managers.
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Venture with SWF shows debt still in the black
UK/MIDDLE EAST β An Abu Dhabi sovereign wealth fund (SWF) is to pump Β£200m (β¬250m) into London & Stamford via a seven-year joint venture aimed at building a war chest for UK acquisitions.
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Investor interest lifts non-core Rockpoint to $2.5bn
UNITED STATES - Rockpoint Group LLC has attracted $2.51bn (β¬1.58bn) of equity for its latest commingled fund, Rockpoint Real Estate fund III but says the sum could have been larger on the back of investor demand.
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DRA invests half of its new $1.25bn fund
UNITED STATES - DRA Advisors has already spent around 50% of the $1.25bn (β¬787.4m) of equity it has just finished for its DRA Growth and Income Fund VI.
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Washington State outshines Oregonβs commitment to Lone Star
UNITED STATES - Washington State Investment Board has approved a commitment of up to $600m (β¬375.1m) into the Lone Star Fund VI commingled fund.
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Canyon Capital raises $1bn for urban fund
UNITED STATES β US-based pension funds were among the biggest investors to Canyon-Johnson Urban Fund III, which has received equity commitments from investors totaling $1bn (β¬627.4bn).
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European property returns hit by currency pressure
EUROPE β Unlisted European real estate funds saw a negative return on their investments of β3.9% in 2007, driven by the very poor performance of the UK property market as well as currency conversion pressures attached to the dollar and euro.
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FSP outsources residential admin
DENMARK - Finanssektorens Pensionskasse, the Danish pension scheme for financial sector workers, has outsourced the administration of its Danish residential properties and leases to Dan-Ejendomme.
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UK calls in green experts as EC targets shoppers
UK - The UK government is to examine existing buildings as part of a 'greening' agenda dominated to date by concerns over new-build standards.
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European retail needs 'further distinction'
EUROPE - Investors need to replace the distinction between Western and Eastern European real estate markets with one between mature and maturing Europe, ING Real Estate Development CEO Menno Maas said last week.
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Retail will continue to attract cross-border investment
EUROPE - Shopping centres will continue to attract cross-border property investments because they offer secure income and low risk, according to RenΓ© Tremblay, CEO of Ivanhoe Cambridge.
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UK residential 'risky' despite 2007 returns
UK - Market fragmentation and unfavourable tax treatment are scuppering attempts to widen investment in the UK residential, Savills director Jacqui Daley said last week.
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Illinois Teachers signs two core accounts
UNITED STATES - Teachersβ Retirement System of the State of Illinois has hired Cornerstone Real Estate Advisers and Invesco Real Estate as its new core separate account real estate managers.
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Kimpton books $246m into hotels
UNITED STATES - Kimpton Group Holding raised $246m (β¬155.6m) through institutional partners for its latest hotel investment fund, Kimpton Hospitality Partners II.
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Swiss pensions increase AIFAAβs US play
UNITED STATES/SWITZERLAND - AIFAA, an investment company backed by 12 Swiss pension funds, has doubled the size of its real estate portfolio in the United States by acquiring two properties in all-cash deals for $72m (β¬45.9m).
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VastNed forced to reconsider takeover
NETHERLANDS - VastNed Retail, the β¬1.8bn property fund, has beenforced by majority shareholders, such as pensions investor PGGM, tore-consider its initial refusal to a takeover bid.
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New York stores assets in Europe
UNITED STATES - New York Common Retirement Fund has added European self-storage properties to its real estate investment program for the first time with the acquisition of a 51% interest in Public Storageβs Shurgard Europe operations.
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Pension fund shops for real estate via AEW-Weingarten JV
UNITED STATES - AEW Capital Management and Weingarten Realty Investors have formed a $229m (β¬144.2m) partnership for the recapitalization of a US-based retail portfolio, which is expected to benefit an unnamed US pension fund.
