Real Estate news 鈥� Page 733
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Alecta outsources French real estate management
SWEDEN 鈥� The asset management arm of Swedish occupational pensions mutual Alecta is to transfer the management of its real estate portfolio in France.
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M&G checks real estate assets into Premier Inn
UK 鈥� M&G Investments has acquired five Premier Inn hotels for its Secured Property Income Fund, which offers inflation-linked income to institutional investors, including UK pension schemes.
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CPPIB shops for San Diego retail
UNITED STATES 鈥� The Canada Pension Plan Investment Board (CPPIB) has completed its first ever joint venture with Donahue Schriber on a retail property in San Diego.
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Strathclyde pension fund buys BREEAM green office
UK 鈥� The Strathclyde Pension Fund has purchased a sustainable office development in Glasgow, which is seen as the first building in the city to achieve a BREEAM (BRE Environment Assessment Method) 鈥榚xcellent鈥� status.
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Hermes swoops on property for BT
UK 鈥� Hermes Real Estate has acquired a series of commercial properties, known as the 鈥楬awk鈥� portfolio, on behalf of the BT Pension Fund.
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NPS buys rooms with a view of Sydney Harbour
GLOBAL 鈥� South Korea鈥檚 National Pension Service (NPS) has bought an office building in Sydney for A$685m (鈧�440m) as it continues to snap up prime assets across the world鈥檚 top cities.
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CPPIB joint venture pursues forced retail sale
CANADA/UK - The Canada Pension Plan Investment Board (CPPIB) has entered into a joint venture with UK property company Hammerson to take advantage of the forced sale of a prime UK retail asset.
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Varma agrees deal for Kesko retail stores
FINLAND 鈥� Varma Mutual Pension Insurance Company has entered into a sale and leaseback arrangement with The Kesko Group for 13 its stores, including one owned by the retailer鈥檚 pension fund.
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USS beefs up its real estate strategy
UK 鈥� Universities Superannuation Scheme (USS) has poached Alex Turner from Hermes Real Estate to manage its UK office portfolio, just as other changes are being made to improve its performance.
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HSBC Pension Fund sells UK real estate holding
UK 鈥� The HSBC Pension Fund has sold Wilmslow Park in central Manchester to Legal & General (L&G) Property鈥檚 Managed Fund.
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UK鈥檚 Merchant Navy Pension rebalances real estate
UK 鈥� The Merchant Navy Officers Pension Fund (MNOPF) has sought to rebalance its UK real estate portfolio and sold three commercial real estate assets in the UK, for almost a third more than recent valuations.
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BP pension fund and GPE buy a piece of London鈥檚 Regent St
UK 鈥� F&C REIT Asset Management and AREA Property Partners have sold one of the top assets from the Dawnay Day portfolio they acquired in March to the BP pension fund and Great Portland Estates (GPE).
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Merchant Navy sells Waitrose property (amended)
UK 鈥� Wilky Fund Management has sold a Waitrose supermarket store in Cheadle Hulme on behalf of the Merchant Navy Officers Pension Fund, which is considering reducing its real estate exposure.
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Pension funds to tap struggling US hotels market
UNITED STATES- US pension funds are returning to the real estate investment market to plug into opportunities in the struggling upscale hotel market.
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UK to discuss next step to residential investing
UK 鈥� The UK government will launch a consultation in 2010 on the private rented residential sector, which has been attracting interest from institutional fund managers and pension funds.
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Orion鈥檚 Europe III captures 鈧�1bn
EUROPE 鈥� Orion Capital Managers has closed the capital raising programme for its latest European opportunity fund, breaking its publicly-stated fundraising target of 鈧�1bn.
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USS swaps retail for more warehouse space
UK 鈥� A complex deal between Universities Superannuation Scheme (USS) and Henderson Global Investors has enabled the pension fund to diversify its UK retail warehouse portfolio, while the investment manager has reduced the leverage in one of its funds.
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Swedish pensions break into secure locations
SWEDEN 鈥� A consortium of Swedish pension funds has purchased two ongoing real estate projects from developer Skanksa, which specialise in crime prevention.
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CalPERS endures fresh $4.2bn real estate hit
UNITED STATES 鈥� The California Public Employees Retirement System has revealed it suffered a $4.2bn (鈧�2.82bn) loss on its real estate portfolio during the second quarter of 2009.
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Pension funds buy up retail targets
UK 鈥� LaSalle Investment Management has purchased a shopping centre in the UK on behalf of one pension fund client and secured new tenant leases for two others.
