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News

Texas Employees commits $60m to value-added fund

2010-11-11T12:00:00Z

GLOBAL – The Employees Retirement System of Texas has made a $60m (€43m) commitment to the Madison International Real Estate Liquidity Fund IV.

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VastNed Retail builds up Turkish portfolio to €90m

2010-11-08T15:00:00Z

TURKEY – Pan-European retail property fund VastNed Retail has acquired its seventh prime high street shop in the heart of Istanbul, taking its total investment in Turkey to €90m.

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Texas Teachers-backed property fund makes first investment

2010-11-08T11:30:00Z

GLOBAL – An office building investment fund backed by the Teacher Retirement System of Texas has completed its first investment.

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Pradera begins raising capital for UK retail park 'club fund'

2010-11-04T15:00:00Z

UK – Pradera UK has secured £75m (€85.6m) from a European pension fund to invest in UK retail parks and is hoping to raise a further £175m from several other investors currently undertaking due diligence.

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UK commercial rally running out of steam, says IPD

2010-11-04T13:00:00Z

UK – Investment Property Databank (IPD) has warned that the rally in the UK commercial real estate market is all but over, with the third quarter seeing the shallowest period of capital growth in 2010.

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Norway's Pension Fund Global Fund makes first foray into real estate

2010-11-04T12:45:00Z

EUROPE – Norges Bank has made its first real estate investment for the Norwegian Government Pension Fund Global, acquiring a 25% stake in The Crown Estate's Regent Street portfolio in London.

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Irish commercial real estate continues to slide, IPD says

2010-11-01T14:15:00Z

IRELAND – The commercial real estate market in Ireland continued to see declines in capital values in the third quarter, meaning the market has been falling for more than three years, according to Investment Property Databank (IPD).

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CPPIB, LaSalle join forces on German shopping centre

2010-11-01T14:00:00Z

GLOBAL – DEGI Europa, the open-ended real estate fund in the process of liquidating its assets, has sold a shopping centre in Germany for €157.3m to the Canada Pension Plan Investment Board (CPPIB) and LaSalle Investment Management.

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Goodman, Europa Capital to develop UK logistics

2010-11-01T13:45:00Z

UK – Goodman and Europa Capital have entered into a joint venture to acquire land sites in the UK for the development of distribution and logistics properties.

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Lack of European prime stock slows global transactional recovery

2010-10-25T15:30:00Z

GLOBAL – The recovery in global real estate transactions has levelled off, driven by a constrained availability of prime properties in Europe, according to Jones Lang LaSalle (JLL).

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OMERS, British Land team up to develop London's Cheesegrater

2010-10-25T13:15:00Z

UK – Oxford Properties, the real estate division of Canadian pension fund OMERS, has entered into a 50:50 joint venture with British Land to develop the Leadenhall Building in the City of London, otherwise known as the Cheesegrater.

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Real estate markets failing to recover in Italy, Japan

2010-10-21T14:15:00Z

GLOBAL – The Italian commercial real estate market has continued its gradual decline in capital values in the first half of 2010, according to Investment Property Databank (IPD).

News

Pramerica targets Polish warehouse developments with Panattoni

2010-10-18T15:45:00Z

EUROPE – Pramerica Real Estate Investors has entered into a joint venture with Panattoni Europe to develop a portfolio of as much as €100m of logistics warehouses in Poland, Czech Republic and Slovakia.

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BP Pension Fund's Cubemaker joint venture buys ITV assets

2010-10-18T14:45:00Z

UK – Cubemaker Partnership, the joint venture between the BP Pension Fund and Cube Real Estate, has acquired three commercial real estate assets from television company ITV for £11.3m (€12.9m).

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Rockspring enters student housing through counter-cyclical strategy

2010-10-14T15:30:00Z

UK – Rockspring Property Investment Managers has entered the student accommodation market for the first time with the acquisition of 123 Fountainbridge, Edinburgh, in a joint venture with Mansion Group.

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Pension funds targeting US multi-family housing

2010-10-14T15:15:00Z

GLOBAL – Multi-family housing has been identified as the favoured sector for investment in the US by a number of European pension funds, a position backed up by new research from Pramerica Real Estate Investors.

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Los Angeles tenders RFI for separate account manager

2010-10-14T12:45:00Z

GLOBAL – The Los Angeles City Employees Retirement System (LACERS) has approved a request for information (RFI) to hire a real estate manager for a separate account.

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First Property wraps up USS mandate, returns to Poland

2010-10-11T15:30:00Z

POLAND – First Property Group has returned to its previous business model of launching successive Polish opportunity funds, having concluded its mandate with the Universities Superannuation Scheme (USS).

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Global investors flocking to German real estate market

2010-10-11T13:30:00Z

GERMANY – The German commercial real estate market has seen in influx of international investors in 2010, accounting for 40% of all transactions in the first half of the year, according to Savills.

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Invesco Real Estate backs hotels with second European fund

2010-10-11T11:45:00Z

EUROPE – Invesco Real Estate has identified a €168m seed portfolio of hotels to help raise capital for its new pan-European hotel fund.