Real Estate news 鈥� Page 727
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MGPA's opportunity fund targets 鈧�200m of German retail
GERMANY 鈥� MGPA's European opportunistic real estate fund has acquired 140 ALDI S脺D stores in Germany as it seeks to deploy close to 鈧�200m of capital in the country's retail sector over the next six months.
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Investors shunning PE funds, keeping cash for JVs
GLOBAL 鈥� Institutional investors are holding back from private equity real estate funds, preferring to hold on to their capital or channel it into direct investment and joint ventures, according to Preqin, the private equity data firm.
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CPPIB, Future Fund recapitalise Australian shopping centre fund
GLOBAL 鈥� Canada Pension Plan Investment Board (CPPIB) and Australia's Future Fund have helped recapitalise a flagship Australia shopping centre fund by agreeing to invest A$750m (鈧�524m) between them.
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Nebraska puts $63m into core commingled funds
GLOBAL 鈥� The Nebraska Investment Council (NIC) has approved $63m (鈧�49.6m) worth of real estate commitments into core open-ended commingled funds.
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Medicx fund highlights growing investor interest in healthcare
UK 鈥� A healthcare fund run by specialist investor and developer Medicx has raised 拢45m (鈧�55.1m) in capital from a number of institutional investors, the National Grid UK Pension Scheme, the Merseyside Pension Fund, Henderson Global Investors and Prudential.
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Pramerica to take on UBS ground lease fund
UK 鈥� Pramerica Real Estate Investors will take over from UBS Global Asset Management as investment adviser for the UBS Secure Income Property fund.
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BA Pensions teams up with Columbus on City office buy
UK 鈥� The British Airways Pension Fund has entered into a 50/50 joint venture with the Columbus UK Real Estate Fund to acquire London City office Austin Friars House for 拢25m (鈧�30.6m).
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Rockspring completes first continental deal for Korea's NPS
GLOBAL 鈥� The National Pension Service (NPS) of Korea, the fifth-largest pension fund in the world, has acquired a 51% stake in the O'Parinor Shopping Centre in Paris for 鈧�223m.
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Polish pension property reform 'would not eliminate risk'
POLAND 鈥� Asset managers would be unlikely to take on Polish pension funds' property portfolios even if domestic reforms were to lift restrictions on them investing in alternatives, according to Dariusz St谩nko, a specialist at the Warsaw School of Economics.
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Pension schemes shifting toward city centres, says Cushman & Wakefield
EUROPE 鈥� European pension schemes are diverting their retail exposure away from shopping centres toward city-centre high streets in search of higher yields generated by active management.
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LA public fund proceeds with real estate debt strategy
GLOBAL 鈥� Los Angeles County Employees Retirement Association (LACERA) has sanctioned investment in real estate debt for the first time.
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AFIAA shuns London for Scottish investment
UK 鈥� AFIAA, the global property investor owned by 18 Swiss pension funds, has made its second acquisition in the UK, having bought a new mixed-use development in Edinburgh.
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Standard Life Investments makes pair of direct buys in Brazil
GLOBAL 鈥� Standard Life Investments (SLI) has built up its global fund's exposure to the Brazilian office sector with two direct acquisitions.
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Union Investment sells prime UK office building after 12 months
UK 鈥� Union Investment has sold a prime London City office building to Hammerson and the Canada Pension Plan Investment Board (CPPIB) after buying it only 12 months ago, netting more than 拢34m (鈧�41m) in capital appreciation in the process.
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Luxembourg Fund Partners to launch high-tech fund for CEE region
EUROPE 鈥� Luxembourg Fund Partners is set to launch a fund focusing on high-tech real estate in central and eastern Europe (CEE).
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Oklahoma Teachers to invest $425m in core strategy
GLOBAL 鈥� The Teacher Retirement System of Oklahoma is planning to invest $425m (鈧�324.1m) into a core, open-ended commingled fund strategy.
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Spain's BBVA offloads second round of bank branches
EUROPE 鈥� Banco Bilbao Vizcaya Argentaria (BBVA) has offloaded a second tranche of property assets to the group of RREEF Europe, Area Property Partners and Europa Capital for 鈧�364m.
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European office fundamentals remain strong, says Jones Lang LaSalle
EUROPE 鈥� Take-up of office space in Europe increased marginally in the second quarter despite growing economic uncertainty over austerity measures and concerns surrounding sovereign debt, according to Jones Lang LaSalle (JLL).
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Henderson targets local interest with German retail fund
GERMANY 鈥� Henderson Global Investors is seeking to tap demand from German institutional investors for exposure to their domestic retail sector.
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Brookfield Properties reinvents self, invests $1.4bn in offices
GLOBAL 鈥� Brookfield Properties is planning to invest more than $1.4bn (拢885m) in 16 offices across Australia held by Brookfield Asset Management and reposition itself into a "global, pure-play office property company".
