All Real Assets articles in October 2009 (Online)
View all stories from this issue.
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News
San Bernardino County turns to European debt
UNITED STATES - San Bernardino County Employees Retirement Association is planning to invest a total of 鈧�60m (鈧�41m) the Apollo European Principle Finance Fund, although at least $20m of those assets are being as co-investments to specific transactions.
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Oregon tops up distressed debt real estate holdings
US 鈥� Oregon Public Employees Retirement Fund has demonstrated its ongoing commitment to Lone Star Funds by committing a further $400m (鈧�273.6m) of capital to the distressed real estate debt specialist.
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SWIP re-enters European retail property
EUROPE 鈥� Scottish Widows Investment Partnership (SWIP) has signalled its intention to re-enter the continental European real estate market with the launch of retail fund run in partnership with Cushman & Wakefield Investors (CWI).
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INREV鈥檚 van Doorn returns to ING roots
EUROPE 鈥� Lisette van Doorn is leaving the European Association for Investors in Non-Listed Real Estate Vehicles (INREV) to rejoin ING Real Estate Investment Management.
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USS snaps another high street bargain
UK 鈥� The Universities Superannuation Scheme (USS) has made another retail acquisition in the UK, taking its total UK real estate investment in 2009 to 拢300m (鈧�327m).
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Invesco predicts equity/property correlation will lessen
GLOBAL 鈥� Real estate will go back to offering full diversification effects, having lost some of its credibility as a decorrelated asset class, research from Invesco has predicted.
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CalEast CEO resigns
UNITED STATES - Russ Blackwell, chief executive of CalEast Global Logistics, has resigned as head of the company but is staying on with the company until the end of the year.
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GE pension fund caught up in real estate loan battle
FRANCE 鈥� Creditors of Paris office complex Coeur D茅fense may appeal a court ruling which forced them to extend a securitised 鈧�1.5bn loan to the property鈥檚 joint owners, one of which is a General Electric pension fund.
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Heitman buys into shopping venture
UNITED STATES 鈥� Heitman, the real estate asset manager, has formed a joint venture with Macerich, the US shopping centre owner, and bought a major stake in two US regional shopping centres.
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Tesco continues property deals with pension funds
UK 鈥� Tesco has formed a fourth joint venture with a UK pension fund to sell and leaseback property assets, in an effort to release value from its property portfolio.
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BBC pension fund moves out of London鈥檚 Regent Street
UK 鈥� CB Richard Ellis Investors has confirmed the sale of Mutual House, owned by the pension scheme of the British Broadcasting Corporation (BBC), for 拢30m (鈧�32.1m), reflecting a yield of 5.4%.
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Aberdeen pension fund goes shopping in East Anglia
UK 鈥� Aberdeen Property Investors has purchased five retail units in the UK on behalf of the Aberdeen City Council Pension Fund.
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USS disposes of industrial space
UK 鈥� The Universities Superannuation Scheme (USS) has sold 11 industrial assets from its recently acquired Equiton portfolio to Scottish Widows Investment Partnership Property (SWIP) Trust.
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Liability-driven investment 鈥榮hould contain property鈥�
UK 鈥� Liability driven investment (LDI) portfolios should include commercial real estate, according to Pramerica Real Estate Investors.
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Sacramento County votes against fund extension
UNITED STATES 鈥� The Sacramento County Employees鈥� Retirement System has said it will not support proposals to extend the investment period of the Hines US Office Value Added Fund II commingled fund.
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INREV sees continued delays to fund terminations
EUROPE 鈥� Investors in unlisted real estate vehicles are more often than not opting to delay fund terminations due in the next two to three years.
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Sovereign wealth funds hit by US property tax
GLOBAL - Sovereign wealth funds (SWFs) have been dealt 鈥渁 significant blow鈥� by changes to the US tax regime, according to Steve Renna, president of the National Association of Real Estate Investment Managers (NAREIM).
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Urdang opens way to new debt strategy
UNITED STATES - Urdang Capital Management has taken a novel approach to building a new real estate debt strategy by hiring eight people from Capmark Investments, as the move means it will also act as a non-discretionary sub-adviser for two of Capmark鈥檚 commingled funds.
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Real estate future still uncertain for CEE
CENTRAL/EASTERN EUROPE 鈥� While Poland and the Czech Republic are showing signs of recovery, other CEE real estate markets are still suffering from a major investment withdrawal of assets over the last 12 months, according to Austria鈥檚 Erste Group.
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L&B Realty expands to Europe
UNITED STATES - L&B Realty Advisors is making its first venture into Europe with a partnership being formed with Mayfair Capital Investment Management.
