Real Estate news 鈥� Page 732
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Arizona Public Safety takes opportunistic strategy in real estate
UNITED STATES - Arizona Public Safety Retirement System intends to make at least two more real estate commitments to commingled funds by investing through a US opportunistic strategy in 2010.
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Standard Life snaps up Tesco 'eco' sale-and-leaseback
UK 鈥� Standard Life Investments has acquired a Tesco Extra Supermarket in Shrewsbury for its 拢1.85bn (鈧�2.04bn) Pooled Property Pension Fund.
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Hamborner resurrects German listed real estate with Reit move
GERMANY 鈥� Hamborner has become the third real estate company in Germany to convert to a real estate investment trust (REIT) status, prompting speculation that the country鈥檚 REIT may finally start to grow.
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UK and Nordic pension investors opt for Nordic logistics fund
UK/NORDICS - A group of large Nordic and UK institutional investors have invested in a new logistics real estate fund offered by Nordic Real Estate Partners, which will invest in Nordic logistics properties.
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Danish pension funds take on sustainable office development
DENMARK - Danish pension funds PensionDanmark and L忙gernes Pensionskasse, and Swedish financial group Nordea Life have purchased a sustainable office development in Denmark through a joint venture.
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CalSTRS loses $83m as Fairfield moves to Chapter 11
UNITED STATES- California State Teachers Retirement System (CalSTRS) has taken an $82.9m (鈧�61.2m) hit in its real estate portfolio as one of its investments, Fairfield Residential LLC, has filed for Chapter 11 bankruptcy protection.
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Responsible investment fund to develop UK care homes
UK 鈥� A new socially-responsible real estate fund backed by local authority pension funds has invested in the UK care home sector.
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L&S makes 36% gain on 9-mth investment
UK 鈥� London & Stamford Property, the listed company managed by Raymond Mould and Patrick Vaughan, has sold a UK office building for 拢51.3m (鈧�56.6m), nine months after buying it for 拢37.6m
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ING Clarion deal signals market re-entry
UNITED STATES- ING Clarion Partners has shown its belief in the comeback of the real estate market and made its first acquisition in over two years for the Clarion Development Ventures III commingled fund.
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Wisconsin eyes debt as part of $250m signing
UNITED STATES 鈥� The State of Wisconsin Investment Board is in process with making new investments in real estate totalling $250m (鈧�183.9m).
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Manchester pension fund to rebuild office eyesore as beauty
UK 鈥� The 拢7.39bn (鈧�8.48bn) Greater Manchester Pension Fund, the largest local authority scheme in the UK, has been given the green light for a major office redevelopment project in Manchester city centre.
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Mass PRIM to invest $1bn in 2010
UNITED STATES - Massachusetts Pension Reserves Investment Management Board has approved its 2010 annual real estate investment plan and could allocate as much as $1bn (鈧�729.7m) to the asset class over the next 12 months.
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LGP is latest to drive inflation-linking real estate
UK 鈥� Legal & General Property (LGP) has become the latest fund manager to offer defined benefit pension funds access to real estate providing inflation-linked income.
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Ohio PERS eyes apartments and mortgages
UNITED STATES 鈥� The Ohio Public Employees Retirement System has issued Requests for Information (RFI) concerning separate account managers working in the residential apartments and first mortgage loan portfolios space.
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Europe heading for 'slow' real estate recovery
EUROPE 鈥� European real estate faces a 鈥渓ong, slow haul鈥� to recovery, according to the latest report from the Urban Land Institute (ULI) and PricewaterhouseCoopers (PwC).
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PensionDanmark widens its real estate ground
DENMARK 鈥� Danish pension provider PensionDanmark has acquired commercial real estate let to other pension funds in Denmark, and plans to increase its property exposure significantly over the next three years.
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Cordea Savills to tap income from UK real estate
EUROPE 鈥� Cordea Savills has secured capital commitments from three investors, including an unnamed European pension fund, for a new fund that will invest in core, income-producing commercial real estate in the UK.
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Dutch pensions funds reduce direct property by 鈧�3.5bn
NETHERLANDS - The combined direct property investment of Dutch pension funds has decreased significantly, but schemes are still interested in holding office buildings, according to the Dutch regulator De Nederlandsche Bank.
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ICL pension plan moves into real estate
UK 鈥� The ICL Common Investment Fund, the investment vehicle for the ICL pension fund, made its first allocation to real estate in 2009, and invested 拢33m (鈧�37.3m) through ING Real Estate Investment Management.
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UK pension funds to invest in real estate recovery
UK 鈥� Aviva Investors has raised 拢200m (鈧�226m) from a number of UK local authority and corporate pension schemes for a new fund designed to capitalise on the market recovery in the UK but without using gearing.
