Â鶹ӳ» Investors News – Page 602
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Standard Life snaps up Tesco 'eco' sale-and-leaseback
UK – Standard Life Investments has acquired a Tesco Extra Supermarket in Shrewsbury for its £1.85bn (€2.04bn) Pooled Property Pension Fund.
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Rebranded DEGI to focus on institutional and Master KAG services
GERMANY – Aberdeen Immobilien KAG, previously known as DEGI, will in future focus its business on the institutional sector, pan-European funds and on offering fiduciary services, according to Hartmut Leser, country head for Aberdeen in Germany.
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Pre-MIPIM talk is of interest in banks’ real estate books
EUROPE – The hot topic at this year’s MIPIM event in Cannes is going to be how banks manage and offload the real estate assets on their books, panellists concluded during Â鶹ӳ» Real Estate’s inaugural webinar.
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Hamborner resurrects German listed real estate with Reit move
GERMANY – Hamborner has become the third real estate company in Germany to convert to a real estate investment trust (REIT) status, prompting speculation that the country’s REIT may finally start to grow.
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UK and Nordic pension investors opt for Nordic logistics fund
UK/NORDICS - A group of large Nordic and UK institutional investors have invested in a new logistics real estate fund offered by Nordic Real Estate Partners, which will invest in Nordic logistics properties.
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Ohio PERS to invest $1.6bn in real estate
UNITED STATES - Ohio Public Employees Retirement System will allocate $1.6bn (€1.2bn) in real estate this year and will be targeting stable assets as well as motivated sellers in particular.
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CBRE launch breaks into DC pensions
UK – CB Richard Ellis Investors has launched its first property fund aimed at the defined contribution (DC) pension sector.
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Hewitt advises pensions funds to consider UK real estate
UK – Hewitt Associates is focusing on domestic real estate for its UK pension fund clients following two years of volatility and poor performance in geared overseas funds.
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NYSTRS signs CMBS managers to new contracts
UNITED STATES – The New York State Teachers Retirement System has signed new contracts with BlackRock Financial Management and ING Clarion Capital to manage commercial mortgage_backed securities (CMBS) investments.
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German property redemptions could carry two-year waiting period
GERMANY – Investors in German open-ended real estate funds will have to abide by a two-year holding period before redeeming their shares, if government plans come to fruition.
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Pension funds outperformed with property investments
UK – Pension funds outperformed the International Property Databank’s (IPD) benchmark of 3% for all participating UK funds in 2009, because they owned prime property and bought largely ahead of the market rally in the second half of the year.
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Danish pension funds take on sustainable office development
DENMARK - Danish pension funds PensionDanmark and Lægernes Pensionskasse, and Swedish financial group Nordea Life have purchased a sustainable office development in Denmark through a joint venture.
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Washington State creates its own real estate benchmark
UNITED STATES - Washington State Investment Board has dropped the NCREIF Property Index as the return benchmark it applied to its real estate portfolio.
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Indiana PERF sees potential in real estate debt
UNITED STATES - Indiana Public Employees’ Retirement Fund has approved two investments in real estate debt totalling $230m (€169.9m).
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Aegon AM launches fund targeting smaller properties
UK – AEGON Asset Management is the latest fund management group to launch a fund targeting smaller real estate assets in the UK, as the market for prime property becomes increasingly competitive.
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Europe's biggest pension fund given top-line real estate guidelines
NORWAY - The Norwegian Ministry of Finance has today revealed the Government Pension Fund-Global fund will in future be invested in real estate as planned, albeit investments will be made over a long period of time, in a bid to reduce risk.
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CalSTRS loses $83m as Fairfield moves to Chapter 11
UNITED STATES- California State Teachers Retirement System (CalSTRS) has taken an $82.9m (€61.2m) hit in its real estate portfolio as one of its investments, Fairfield Residential LLC, has filed for Chapter 11 bankruptcy protection.
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Lack of purchasing stocks shifts attention to secondaries
EUROPE – A lack of prime real estate being placed on the market is forcing investors to consider secondary assets or to focus on opportunities arising from banks.
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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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Aberdeen claims core European real estate has bottomed
EUROPE – Aberdeen Property Investors has begun buying real estate again for its core pan-European institutional fund now that it believes many of the continent’s prime markets have bottomed out.
