Real Estate news 鈥� Page 738
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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.
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Slowing yield compression may hint at improving sentiment - JLL
EUROPE 鈥� The weighted average European price office yield moved out 20 basis points from 5.8% at the end of 2008 to 6%, a much smaller increase than the 50bps movement between Q3 and Q4 2008, according to Jones Lang LaSalle鈥檚 (JLL) Q1 2009 European Office Yields Report.
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Rockwood Capital hits fundraising target
UNITED STATES - Rockwood Capital has closed the money raising on its Rockwood Capital Real Estate Partners Fund VIII just shy of its target, at $964m (鈧�720.6m).
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NYSTRS extends its real estate limits
UNITED STATES - New York State Teachers Retirement System has bought a further share in a real estate backed by a European pension fund, as well as extending current management contracts.
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Prime office rents tumble in Q1
EUROPE - European prime office market rents fell by 8% during the first quarter of 2009, the greatest quarterly decline ever recorded by Jones Lang LaSalle鈥檚 (JLL) European Office Property Clock index.
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UK seeks pension fund investment in housing
UK - Plans to encourage pension funds to invest in private rented housing have been announced by the UK government鈥檚 Housing and Communities Agency (HCA).
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Texas Teachers to invest $475m in LLPs
UNITED STATES - Teacher Retirement System of Texas is in the process of setting up two limited partnership funds with assets of $475m (鈧�358.1m) which could make it the only pension fund investor.
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PERE funds struggle to close
GLOBAL 鈥� Private equity real estate funds are finding it tough to reaching closing fund-raising positions and almost as many as last year have already abandoned the task, according to research conducted by Preqin.
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Swiss pension funds buy Schroders lease
SWITZERLAND/UK 鈥� AFIAA, the Swiss real estate investment adviser for state pension funds, has purchased the long leasehold on Schroders鈥� London headquarters for 拢70m (鈧�76.5m).
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Abbey buys its London HQ
UK 鈥� British Land has sold Abbey鈥檚 London headquarters to the banking giant for 拢115m (鈧�126.4m).
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IPD claims German buoyancy may attract investors
GERMANY 鈥� The IPD Germany Annual Property Index showed Germany鈥檚 property returns proved more resilient during the downturn than most European real estate markets 鈥� a situation which the body argues is likely to draw more institutional investors into the market.
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Kesko sign sale-and-leaseback deal with pension fund
FINLAND 鈥� The Kesko Pension Fund has bought four retail properties for 鈧�50m from the Finnish trading company Kesko Group.
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Pensions investors enticed by Catalyst opportunities
EUROPE 鈥� Catalyst Capital LLP, a European investment and asset management firm, has secured the support of major institutional investors for its 鈧�228.5m pan-European property fund.
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West Midlands makes supermarket sweep
UK 鈥� The West Midlands Pension Fund has purchased a 拢36.5m (鈧�39.6m) supermarket property in Birmingham from Land Securities, to strengthen its position for the future.
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San Diego City plans tactical moves in real estate
UNITED STATES - San Diego City Employees鈥� Retirement System is planning to take advantage of tactical investment opportunities in the second half of this year in certain property types.
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Reita claims residential Reits are a good buy
EUROPE - Institutional investors should consider investing in residential property as an asset class and push for residential Real Estate Investment Trusts (REITs), according to Reita鈥檚 panel of property investment experts.
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CalPERS sees demand for member mortgages triple
US 鈥� California Public Employees鈥� Retirement System鈥檚 (CalPERS鈥�) Member Home Loan Programme has tripled in size over the last year thanks to its conservative mortgage practices, according to CalPERS鈥� Investment Committee.
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Norway sees property slip into the red
NORWAY 鈥揘orwegian commercial property returns fell into negative territory in 2008 after delivering 15% plus returns for three consecutive years, according to the IPD Norway Annual Property Index.
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Mexican pensions to focus on home properties
MEXICO 鈥� Mexican pension funds have agreed to only invest in domestic investments this year and will focus on investing in real estate to help boost the struggling Mexican economy.
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Ahorro to create and market a 'property bad bank'
SPAIN 鈥� Ahorro Corporaci贸n, the financial services arm of Spain鈥檚 savings banks, has launched a new vehicle to dispose of over 鈧�3bn of defaulted properties on behalf of its banks.
