ΒιΆΉΣ³» Investors News β Page 642
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Pramerica takes its next Latam leap
UNITED STATES - Pramerica Real Estate Investors has closed its latest Latin American commingled fund and completed its first transaction in Chile.
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Chicago Teachers buys Asian exposure
UNITED STATES - Public School Teachersβ Pension and Retirement Fund of Chicago has extended its international real estate exposure by agreeing to allocate $40m (β¬25.7m) to the Merrill Lynch Asia real estate opportunity fund.
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Size mattered in UK property correction β L&G
UK - The speed with which the UK real estate market has corrected in recent months is partly because of the huge changes in its investor base, according to Legal & Generalβs latest fundamentals briefing in London on Tuesday.
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E&Y turns its spotlight on Germany
GERMANY - Real estate investors expect Germany to be the best performing European real estate market in 2008, according to a survey by Ernst & Young Real Estate.
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Maryland State to double real estate allocation
UNITED STATES - Maryland State Retirement Agency is doubling its targeted allocation for real estate from 5% to 10%.
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Pennsylvania eyes opportunities in $461m placement
UNITED STATES - Pennsylvania Public School Employees Retirement System has approved new real estate commitments totaling $461.5m (β¬293.5m) in the opportunistic sector.
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San Francisco extends real estate holdings
UNITED STATES - San Francisco City and County Employeesβ Retirement System made changes to its real estate portfolio to take advantage of market dislocation.
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Ilmarinen to finance Spondaβs Russian expansion
FINLAND/RUSSIA - Finnish pensions provider Ilmarinen has signed a deal to part-fund property firm Spondaβs aggressive Russian expansion strategy.
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West Sussex mulls overseas move
UK - West Sussex local authority pension fund has reappointed Cushman & Healey in a Β£340,000 deal to manage its direct property portfolio.
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CPPIB renounces rights to acquire Auckland airport
CANADA/NEW ZEALAND β THE Canada Pension Plan Investment Board (CPPIB) has headed off government attempts to block foreign ownership of strategic infrastructure assets, by gaining 57.7% shareholder approval for a carefully worded bid for a minority stake in Auckland International Airport.
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Developing Europe keeps investors local
EUROPE - Turkey and Russia now outclass other European property markets for both development and investment, indicating a shift away from βOld Europeβ towards new holdings and developments, suggests a report co-published by the Urban Land Institute and PwC.
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CalSTRS buys into opportunistic projects
UNITED STATES - California State Teachers Retirement System has grown its opportunistic real estate portfolio by $154m (β¬100.2m) through two new commitments, including one to a new development project in Washington DC.
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Chicago Police eyes more real estate
UNITED STATES - Chicago Policemenβs Annuity and Benefit Fund has increased its allocation to real estate from 5% to 7%.
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Principal creates California JV
UNITED STATES - Principal Real Estate Investors has created a new joint venture with The Martin Group to invest in Californian real estate.
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APG and ATP back INREV index campaign
EUROPE - European pension funds have lent their weight to a campaign organised by the European Association for Investors in Non-listed Real Estate Vehicles (INREV), aimed at increasing transparency among unlisted property funds.
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Finland peers down from 10-year peak
FINLAND - Finnish real estate delivered the marketβs strongest performance in a decade last year, returning 11.3% βan increase of 1.3% over the previous year, according to figures published by KTI.
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UK industry defends 'pretty good' valuers
UK - Fund managers have shored up the value of property indices against claims they adequately fail to reflect the market.
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UK property set to stabilise in summer
UK β The Real Estate Investment Trust Association (Reita) has become the latest industry body to forecast a mid-year pick-up in the UK property market.
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Fortis forms car pool with Vinci
EUROPE - Insurer Fortis is in exclusive talks with French firm Vinci to pool the firmsβ European carpark assets in a joint venture.
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FSP raises the ceiling on property
DENMARK- Finanssektorens Pensionskasse, the Danish pension scheme forfinancial sector workers, is adding a hefty slice of property exposureto the unit-linked scheme now used by all new members.
