ΒιΆΉΣ³» Asia-Pacific News β Page 140
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Vietnam gains ground in global rent rise
VIETNAM - Ho Chi Minh City has seen the worldβs fastest office rent rises in the 12 months to March, with occupancy costs rising 94%, according to CBREβs Global Market Rents survey.
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Asian retail is 'sound'
ASIA - ING Real Estate has described the Asian retail market as βfundamentally soundβ and announced the acquisition of 80% stakes in two Korean hypermarket developments, in a joint venture with an unnamed local insurance firm.
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Smaller funds need to be more active - NAEV
EUROPE β Smaller pension funds may need to be more active in their handling of real estate assets than larger pension funds, suggests evidence presented at the recent ΒιΆΉΣ³» Real Estate Forum.
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JPMorgan raises $600m for China fund
UNITED STATES - JPMorgan Asset Management raised in excess of $600m (β¬380.6m) for its latest commingled fund, the JPMorgan Greater China Property Fund.
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Cambodia is the new Vietnam
CAMBODIA - International investors in Asian real estate are looking beyond the rapidly saturating Vietnamese market to Cambodia in search of macro-driven investment opportunities.
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Europeans escape US in Asia
ASIA - Pension funds are increasing their exposure to Asian property in a bid to escape the US-led economic downturn.
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San Francisco reduces real estate flow by $550m
UNITED STATES - City and County of San Francisco Employeesβ Retirement System has reduced significantly the amount of capital it is investing in real estate for the 2008/2009 fiscal year.
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LGPI allocates β¬75m to Asian property
FINLAND β The Finnish Local Government Pensions Institution (LGPI)has invested $75m (β¬48m) into an Asian real estate fund of funds managed by Aberdeen Property Investors (API).
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Finnish VER to boost alternatives
FINLAND β The β¬11.53bn Finnish first pillar Valtion ElΓ€kerahasto (VER) pension scheme, is planning to increase its exposure to alternative investments to 10%.
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Pennsylvania puts $925m beyond the core
UNITED STATES - Pennsylvania Public School Employeesβ Retirement System has approved $925m (β¬598.8m) into new real estate investments through a variety of non-core commingled funds.
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Aberdeen buys real estate rival Goodman for Β£109m
GLOBAL β Aberdeen Asset Managementβs real estate subsidiary Aberdeen Property Investors has snapped up a deal to buy its rival Goodman Property Investors for Β£109m (β¬140m).
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Morgan Stanley brings $2.5bn to Special Sits III
UNITED STATES - Morgan Stanley Real Estate has attracted $2.5bn (β¬1.6bn euros) of institutional capital for the latest round of fund raising for Special Situations Fund III.
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Indiana PERF moves $150m into real estate
UNITED STATES - Indiana Public Employees Retirement Fund has approved commitments totaling $150m (β¬
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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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NZ scotches CPPIB airport deal
NEW ZEALAND - Canada Pension Plan Investment Board (CPPIB)βs long-running attempts to acquire a stake in Auckland International Airport (AIAL) collapsed last week after the New Zealand government refused to approve its application under the Overseas Investment Act.
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INREV plans Asian expansion
EUROPE - The European Association for Investors in Non-listed Real Estate Vehicles (INREV) is to expand into unlisted Asian property.
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Pension funds are "comfortable" with global investment
GLOBAL - Pension funds are increasingly comfortable investing in overseas markets they see as subject to increasingly global standards of transparency, according to Standard Life Investments.
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Europe wins lionβs share of real estate inflows
EUROPE - Europe was the major target of global capital flows for real estate transactions in 2007, capturing 40% of the total $339bn (β¬215bn) in real estate transactions last year, according to data released by Real Capital Analytics (RCA).
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New Jersey commits to high return fund
UNITED STATES - New Jersey Division of Investment has approved a $100m (β¬64.1m) commitment to the Lehman Brothers Real Estate Partners III commingled fund.
