ΒιΆΉΣ³» Investors News β Page 637
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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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Germans abandon bricks for unlisted funds
GERMANY - Cross-border investment in German real estate is pushing German pension fund investors to abandon bricks and mortar for unlisted funds, according to INREV.
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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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Dutch transport funds team up to buy real estate
NETHERLANDS β The β¬12bn Dutch railway pension fund (SPF) and the β¬2bn public transport pension fund (SPOV) have, together with Generali Real Estate, bought an β¬80m Dutch shopping centre project.
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Subprime crisis 'took heat out of CEE'
VIENNA/CEE β The impact of the subprime crisis on stock markets helped reduce overpricing and overheating in the Central and Eastern European real estate markets, delegates at the Vienna Real have agreed.
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Finnish fund in quest for UK real estate
FINLAND β A Finnish pension fund is looking for managers for a Β£150m (β¬189.5m) UK real estate mandate, using ΒιΆΉΣ³» Quest.
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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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Illinois Municipal sees value in adding funds
UNITED STATES - Illinois Municipal Retirement Fund is moving $150m (β¬95.1m) of assets into value-added commingled funds.
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Investors 'should target ports'
EUROPEAN - Location, and not the growing differential between prime and secondary assets, is driving pricing in European logistics, according to a report published by Jones Lang LaSalle.
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UK 'real values' yet to see full impact
UK - The UK property market is approaching fair value, but it has yet to face the fall-out from an economic downturn, according to British Land CEO Stephen Hester.
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Russia to weather credit crisis
EUROPE - Moodyβs last week issued an 18-month βnegativeβ rating for European real estate, blaming βfundamental credit conditionsβ β but claimed Russia would continue to offer value for investors.
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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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Corio expects equalled 2008 result
NETHERLANDS - Property investor Corio expects its 2008 results to be in line with last yearβs return, after announcing its 2007 performance gained 2.7% to over β¬203m.
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ING Clarion sees guarded US investors
UNITED STATES- ING Clarion Partners believes any pension funds in the United States are going to be taking a very cautious approach to investing in real estate this year.
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New York Common looks at urban space
UNITED STATES - New York Common Retirement Fund has made a $285m (β¬182.1m) commitment to the JP Morgan Star Lake Fund I, which invests in urban real estate across the major US metropolitan markets.
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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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Outgoing Clwyd adviser rewarded for real estate success
EUROPE β Clwyd pension fundβs independent adviser is leaving his role on a high note next month as the Welsh local authority fund was crowned the king of ΒιΆΉΣ³» Real Estateβs Awards in Berlin yesterday, winning four awards including Best European Institutional Investor.
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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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German retail βgood for long termβ
GERMANY - Investors should invest in German retail for the long term, but exercise regional caution in a market characterised for strong demand and limited supply, according to fund manager Cordea Savills.
