Real Estate news 鈥� Page 728
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News
Kansas PERS invests $30m in Harrison Street fund
GLOBAL 鈥� The Kansas Public Employees Retirement System has approved a $30m (鈧�23.1m) commitment to the Harrison Street Real Estate Partners III commingled fund.
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European occupancy markets dragged down by austerity measures
GLOBAL 鈥� While occupier demand is rising in the majority of countries across the globe, austerity measures to reduce fiscal deficits are causing a drag on euro-zone and UK real estate markets, according to the latest global report from the Royal Institute of Chartered Surveyors (RICS).
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Valad takes over management of 鈧�480m Swedish portfolio
SWEDEN 鈥� Valad Europe, the pan-European, multi-let real estate investment management business of Valad Property Group, has been appointed to take over the investment management of a 鈧�480m property portfolio in Sweden.
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BT and Royal Mail pension JV sells Brindleyplace assets
UK 鈥� A joint venture between the BT and Royal Mail pension funds, developer Argent and fund manager Tritax has sold five office buildings in Birmingham for 拢190m (鈧�225m).
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Specialist funds outperforming market in UK, says IPD
UK 鈥� Pooled UK real estate funds have delivered returns of more than 20% over the past 12 months, but only those with specialist and niche strategies outperformed the underlying direct market, according to Investment Property Databank (IPD).
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Rothschild makes first investment in New York office market
GLOBAL 鈥� Rothschild Realty Managers has made its first-ever investment in the New York office market with a $150m (鈧�116m) investment in RXR Realty.
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Real estate fundraising plummets to 2004 levels: Preqin
GLOBAL 鈥� Capital raised by private equity real estate fund managers has fallen to the lowest level since 2004, according to data providers Preqin.
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Shopping centre fund opens doors to 拢1bn CMBS restructure
UK 鈥� One of the biggest restructurings of commercial mortgage-backed securities (CMBS) since the start of the financial crisis has been given the go-ahead for a leading UK shopping centre fund.
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Warburg-Henderson launches follow-up Austrian fund
AUSTRIA 鈥� Warburg-Henderson, the German business of Henderson Global Investors, is seeking to raise capital from German, Austrian and Swiss institutional investors for its second Austria-focused real estate fund.
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Carlyle Group snaps up six landmark assets in UK
UK 鈥� Private equity firm The Carlyle Group has acquired six landmark central London office properties 鈥� formerly part of the portfolio of assets linked to the troubled White Tower 2006-3 commercial mortgage-backed securitisation (CMBS) 鈥� for 拢671m (鈧�802m).
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Tesco moves to release value from property portfolio
LONDON 鈥� Tesco has agreed a second sale and leaseback of properties with the Tesco Pension Fund Trustees in an effort to release value from its property portfolio.
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Denmark's AP Pension targets UK through Rockspring
EUROPE 鈥� Denmark's AP Pension has invested in Rockspring Property Investment Managers' new UK real estate fund.
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Mass PRIM issues request for core separate account manager
GLOBAL 鈥� Massachusetts Pension Reserves Investment Management (Mass PRIM) has issued a Request for Proposal for a core, separate account real estate manager.
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APG backs Pramerica debt strategy
EUROPE 鈥� APG Asset Management, the wholly-owned investment manager of the ABP pension fund, is one of a number of investors to have invested in a European real estate debt strategy run by Pramerica Real Estate Investors.
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Progress to reinvest direct capital in Dutch ING REIM funds
NETHERLANDS 鈥� Progress, the Unilever pension fund, has decided to invest in two Dutch real estate funds managed by ING Real Estate Investment Management following the disposal of its directly held domestic portfolio.
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PwC survey reveals pressure on London office fundamentals
UK 鈥� Activity in the UK financial services in the last three months was lower than expected, despite increasing at the fastest rate since the onset of the credit crunch, prompting concerns over the outlook for the London office market.
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Investors in PE funds mark shift in 'balance of power'
GLOBAL 鈥� Institutional investors believe the concessions they have rung from private equity real estate managers in the past year represent a permanent change in the balance of power, according to private equity data firm Preqin.
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Under-supplied CEE region offers 'alternative' to emerging markets
EUROPE 鈥� Debt-free investors should view Central and Eastern European (CEE) real estate as a lower-risk alternative to investing in emerging markets, according to Holger Schmidtmayr, board member of Austrian property firm Sparkassen.
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Finland's Veritas offloads residential portfolio to Germany's Patrizia
EUROPE 鈥� Finnish pensions insurer Veritas has sold a 113-asset portfolio to German fund manager Patrizia in the first residential deal involving an investor based outside the region.
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Texas Teachers commits $800m to real estate investment
GLOBAL 鈥� The Teacher Retirement System of Texas has made more than $800m (鈧�650.5m) in real estate investment 鈥� a mixture of core, value-added and infrastructure strategies 鈥� in the last month.
