Real Estate news 鈥� Page 736
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Korean NPS to invest in central London prime
KOREA/UK 鈥� The National Pension Service of Korea (NPS), the fifth largest pension fund in the world, has awarded a mandate to UK-based Rockspring Property Investment Managers to invest in prime central London real estate.
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Crown Estate signs first green lease
UK 鈥� The Crown Estate has signed its first green lease for part of its 拢750m (鈧�860m) Regent Street regeneration programme in London.
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ABFPT purchases retail park
UK 鈥� Wilky Fund Management has purchased Brook Retail Park in Clacton-on-Sea on behalf of the Associated British Foods Pension Trustees (ABFPT) for 拢11.5m (鈧�13.2m).
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Ropemaker set to make UK acquisitions
UK - Ropemaker Properties, the direct real estate investment arm of the BP Pension Fund, is expected to complete two real estate acquisitions in the UK.
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UBS and Oxford in major pre-letting deal
UK - UBS Global Asset Management and Oxford Properties, the real estate arm of Canada鈥檚 Ontario Municipal Employees Retirement System, have achieved one of the largest speculative lettings in the City of London.
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HSBC Bank Pension Trust in new acquisition phase
UK 鈥� LaSalle Investment Management has purchased 50% stakes in two UK retail parks on behalf of the HSBC Bank Pension Trust.
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State of Florida shifts remaining MS account to Pramerica
UNITED STATES 鈥� The Florida State Board of Administration has appointed Pramerica Real Estate Investors to manage the last 15% of a separate account previously managed by Morgan Stanley Real Estate.
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Illinois Teachers allocates money to cover debt issues
UNITED STATES - The Teachers Retirement System of the State of Illinois has become one of the first pension funds in the United States to allocate funds to a separate account manager to cover possible debt issues.
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Mass PRIM cuts real estate to grow timber
UNITED STATES - Massachusetts Pension Reserves Investment Management Board has decided to lower its allocation to real estate from 11% to 10% and double the size of its allocation to timber from 2% to 4%.
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National Grid pension considers UK real estate
UK 鈥� The National Grid UK Pension Scheme has invested approximately 拢70m (鈧�81m) in UK real estate this year and its advisers expect to commit a similar amount again during the second half of this year and in 2010.
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CPPIB and GIC turn to Brazilian real estate
AMERICAS 鈥� The Canada Pension Plan Investment Board (CPPIB), investment manager of the $105bn (鈧�73.9bn) Canada Pension Plan, has entered into a joint venture with Brazilian property developer Cyrela Commercial Properties (CPP) to invest in commercial real estate in Brazil.
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KEL pension moves into office space
UK 鈥� The pension fund of UK-based software company KEL has acquired a UK office for 拢2.81m (鈧�3.29m).
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Canadian pension fund develops Chinese connection
CANADA/CHINA 鈥� The Canada Pension Plan Investment Board (CPPIB), investment manager of the $105bn (鈧�73.9bn) Canada Pension Plan, has entered into a joint venture (JV) with Goodman Group to own and develop logistics assets in mainland China.
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Rockpoint checks in for US hotel purchase
UNITED STATES - The Rockpoint Group has completed its first acquisition in the United States in 18 months, with the $10m (鈧�6.93m) deal to purchase the 434-room Newton Marriott Hotel in Massachusetts.
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Distressed assets are at risk - RCA
US 鈥� The sum of US real estate 鈥榠n distress鈥� has doubled since the start of the year and the equity of $1.3trn (鈧�900bn) investing in US property is at risk, according to data providers Real Capital Analytics.
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European offices show signs of improvement
EUROPE 鈥� Cushman & Wakefield says European commercial real estate markets are beginning to show signs of stabilising, just as International Property Databank (IPD) has announced the return of yield compression in UK West End office markets.
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BMW pension redistributes its real estate
UK 鈥� The UK pension fund of car manufacturer BMW has sold a distribution centre in Europort, Wakefield to UK real estate company Patrick Properties.
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Aviva to invest 拢1bn in UK rental housing
UK 鈥� Aviva Investors is intending to launch a real estate fund aimed at pension funds and institutional investors that will invest in UK residential assets.
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Florida Board of Administration reassigns MS managed assets
UNITED STATES - Florida State Board of Administration has signed contracts to transfer 85% of the $2.7bn (鈧�1.93bn) separate account assets previously managed by Morgan Stanley Real Estate to Heitman, L&B Realty Advisors and Invesco Real Estate.
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South Yorks invests in UK retail development
UK 鈥� The South Yorkshire Pension Fund has agreed to fund a shopping centre redevelopment in Wales for 拢11.8m.
