Real Estate news 鈥� Page 737
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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.
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CalPERS in $1bn retail joint venture
US 鈥� California Public Employees' Retirement System (CalPERS) has entered into a joint venture with First Washington Realty, which will purchase close to US$1bn (鈧�700m) in retail real estate assets from Macquarie CountryWide Trust.
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SBZ begins direct portfolio sell-off
NETHERLANDS - SBZ, the 鈧�2.2bn Dutch pension fund for care insurer employees, has made its first two disposals of direct property holdings as part of a transition to a wholly indirect real estate exposure.
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Etera reduces office exposure
FINLAND 鈥� The 鈧�4.9bn Etera Mutual Pension Insurance Company has sold business park Swing Life Science Center in Keilaniemi, Finland to fund manager CommerzReal for approximately 鈧�120m.
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German investors return home for safety
GERMANY 鈥� Interest in domestic residential property funds is rising among German institutional investors, according to German real estate fund manager Patrizia Immobilien.
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NPS partners Carlyle Group in Tokyo office purchase
ASIA - South Korea鈥檚 National Pension Service (NPS) has entered into a joint venture with private equity firm The Carlyle Group to purchase an office building in Tokyo.
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Crisis shrinks CALSTRS real estate commitments
UNITED STATES 鈥� The California State Teachers Retirement System made a total commitment to real estate of just $41.1m (鈧�29.3m) in the first quarter of 2009, compared with over $1bn in the same period last year.
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Texas Teachers makes industrial acquisition
UNITED STATES - Teacher Retirement System of Texas has made one of the largest industrial acquisitions of the year by investing $410m (鈧�292.8m) into TLF Logistics.
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BT pension fund sells miner鈥檚 head office
UK 鈥� Hermes Real Estate has sold 20-24 Carlton House Terrace, the UK headquarters of Anglo American, for 拢66.5m (鈧�78.3m) on behalf of the BT Pension Fund.
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Danish doctors sell offices to Aberdeen
DENMARK 鈥� The Doctors鈥� Pension Fund in Denmark, L忙gernes Pensionskasse (LP), has sold two fully-let offices in Copenhagen to Aberdeen Property Fund Denmark, but will be paid half of the 鈧�17.8m acquisition price in cash and half in fund shares.
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Tesco makes second property pledge to pension
UK 鈥� Tesco, the global supermarket chain, has signed another sale-and-leaseback deal with pension fund trustees, which will see the fund take a 50% stake in assets worth 拢458m.
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Progress continues on real estate sale
NETHERLANDS - Progress, the Dutch pension fund of food giant Unilever, has sold three housing complexes in Breda, Groningen and Nijmegen as it continues to divest its directly-held domestic real estate portfolio.
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Pension funds show interest in UK housing
UK 鈥� European pension funds who would not traditionally invest in UK rental housing may do so for the first time through an initiative to kick start investment in UK private residential property, according to a UK government body.
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UK residential may be on the up 鈥� index fund manager
A real estate investment house has claimed investing in UK residential housing 鈥渕ay have turned a corner鈥�, although physical house price rises are still increasing at a very slow rate.
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Mark turmoil encourages AlaskaPerm to rethink weightings
UNITED STATES - The Alaska Permanent Fund Corporation has increased its targeted allocation to real estate from 10% to 13%, to help cope with the impact of the financial markets crisis on its portfolio.
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BP pension fund shops for real estate
UK - The 拢20.3bn (鈧�23.1bn) pension fund for BP has bought an out-of-town retail park in the UK and an office building in London, and plans to invest a further 拢100-150m in its domestic real estate market before the end of the year.
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USS keeps shopping for UK real estate
UK - The 拢28bn (鈧�31.7bn) Universities Superannuation Scheme has bought large retail and industrial assets in the UK and plans to make more acquisitions in the near future as it looks to rebuild its domestic portfolio.
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F&C Reit sees opportunity in distress
GLOBAL - F&C REIT Asset Management has launched its first fund, an opportunistic institutional vehicle targeting distressed situations in the UK and with an internal rate of return (IRR) of more than 20%.
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Do your 鈥榙ebt鈥� due diligence - Partners Group (amended)
GLOBAL - Debt is the new investment buzzword but a warning has been sounded about the critical importance of performing thorough due diligence on real estate debt products.
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AEW widens its logistical holdings
EUROPE - AEW Europe has made a number of logistics investments across Europe for two of its closed-ended funds.
