ΒιΆΉΣ³» Real Estate News β Page 904
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LA Fire and Police survey property risks
UNITED STATES - Los Angeles Fire and Police Pensions are considering investing as much as $300m (β¬194.1m) in real estate this year as part of its 2008 investment plan.
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Bank of Finland scheme awards real estate mandate
FINLAND β Suomen Pankki, the Bank of Finland Pension Fund, has awarded Aberdeen Property Investors a real estate mandate valued at approximately β¬10m.
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Austrian property outperforms, despite sector fall
AUSTRIA - Austrian real estate returns outperformed both equities and bonds in 2007, despite a decline in retail β the best performing sector.
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Sponda sticks with Russia despite Finnish optimism
RUSSIA β Spondaβs chief executive Kari Inkinen said the Finnish property firm was on course for its planned Russian expansion despite a fall in interim profits from the same period last year.
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Pirelli punts on Euro-property fund
EUROPE - Pirelli Real Estate is targeting international pension funds with an opportunistic pan-European property fund it plans to launch early next year.
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UK residential ready for institutions
UK - The UK residential market is ready for pension fund investors despite being fragmented and dominated by amateur property managers, according to property firm Nice.
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Market, not credit, deters UK buyers
UK - Property investors are willing to borrow given the right terms, but theyβre still not convinced the UK market is cheap enough to buy in, according to Jones Lang LaSalle.
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Texas Teachers approves $862.5m in new structures
UNITED STATES - Teacher Retirement System of Texas approved $862.5m (β¬557.9m) in real estate commitments in April, including one deal which has the structure of a commingled fund but is in fact a separate account.
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LaSalle creates hotel JV
UNITED STATES - LaSalle Investment Management and public Reits LaSalle Hotel Properties have formed a $700m (β¬455.3m) joint venture to invest in US hotels.
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Pennsylvania State commits to senior housing fund
UNITED STATES - Pennsylvania State Employees Retirement System has already approved a $25m (β¬16.2m) commitment to Senior Housing Partners IV commingled fund.
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TIAA-CREF moves into commingled space
UNITED STATES - TIAA-CREF has created its first commingled fund to be backed by third-party investment capital.
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UK shopping centre investors and developers stall
UK - Investors are holding off from acquisitions in the UK as shopping centre developments stall amid a funding crisis, according to two specialists at property consultancy Savills.
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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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Q1 hike in UK derivatives trading
UK - The value of trading in UK property derivatives doubled to Β£3.7bn (β¬4.5bn) in Q1 2008 as investors increased their use of swaps to hedge exposure to real estate, according to figures from the IPD UK All-Property index.
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ABP-owned firm sells office portfolio
EUROPE - Corio, the Dutch property firm 37%-owned by the β¬220bn ABP pension fund, has sold its Dutch office portfolio for β¬650m - 1.5% below book value.
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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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ATP buys a harbour view
DENMARK - ATP Real Estate, the property arm of Denmarkβs DKK350bn (bn) labour market supplementary fund, is investing DKK700m in a βground-breakingβ office block development in Copenhagenβs harbour area.
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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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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.
