Real Estate news – Page 739
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France to bounce back after poor 2008 - API
FRANCE - French property investments more than halved in value in 2008, however experts are confident activity will pick up, according to the Aberdeen Property Investors’ French quarterly property snapshot.
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Fund eyes retail shopping sales
UK – Sovereign Land and Strutt & Parker Real Estate Financial Services (SPREFS) are working together to create a £300m (€327m) fund to invest in UK shopping centres.
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CBRE buys on Broadway
US – CB Richard Ellis Investors, the international real estate investment management firm, has purchased a 44-storey office building in New York for a partnership of institutional investors, making it the largest transaction in the state this year.
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Kansas PERS commits to debt fund
UNITED STATES - Kansas Public Employees Retirement System has approved a $25m (€19.5m) commitment to the Square Mile Partners III structured finance commingled fund.
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Atis looks to 2010 recovery
EUROPE – Atisreal, part of BNP Paribas Real Estate, has predicted the decline in European commercial real estate investment activity will slow sharply this year but will then recover slowly in 2010.
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Swedish pension funds buys from RREEF
SWEDEN – AMF, the SEK289bn (€24.7bn) Swedish pension fund, has bought an office building in Stockholm from RREEF, the alternative investment management business of Deutsche Bank’s Asset Management.
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Maryland to invest in real estate this year
US – The Maryland State Retirement and Pension System (SRPS) has committed around $600m ($477m) to real estate funds for 2009.
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Knight Frank warms to residential new builds
UK – London’s prime new build residential market is becoming increasingly attractive to investors and developers, and could be beginning to level out, according to Knight Frank’s 2009 London residential development review.
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Student accommodation reopens under revised terms
UK – Brandeaux has reopened its student accommodation fund this week by issuing a new share class and amending redemptions rules.
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Office to recover in 2010 – C&W
GLOBAL – Global office property markets continue to face uncertainty and tough times ahead but should start recovering in 2010, suggests the latest research by Cushman & Wakefield.
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Sweden sees first signs of real estate downturn
SWEDEN – Swedish commercial real estate returns fell to -3.3% in 2008, according to latest figures from the SFI/IPD Index published by the Investment Property Databank (IPD).
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Lancashire lays groundwork for infrastructure investing
UK - The Lancashire County Council Pension Fund is considering investing around £80m (€89.55m) in infrastructure as part of a new strategy to diversify its investments.
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Preqin reveals record debt interest
GLOBAL – Distressed debt fundraising from institutional investors reached record highs in 2008 as a result of the volatile markets, according to Preqin’s latest monthly report.
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Pension funds to raise real estate holdings to over 10%
GERMANY – German retirement vehicles are among the institutional investors planning the largest increase in their real estate holdings over the next two years, according to research conducted by Feri Advisors.
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Illinois Teaches ends two separate account relationships
UNITED STATES – The Teachers Retirement System of the State of Illinois is terminating separate account relationships with Commonwealth Realty Advisors and Stone Levy, and has asked Heitman to manage some of the assets instead.
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CalSTRS mulls shift to discounted property debt
US – The California State Teachers’ Retirement System (CalSTRS) is considering increasing its target allocation to real estate as the Board proposes temporarily shifting $6bn from global equities to higher returning debt investments.
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S&P predicts further gloom in US housing
US – The residential real estate market in the United States looks set to continue falling in 2009 after house price declines reached record lows at the end of 2008, according to Standard & Poor’s Case-Shiller Home Prices Indices.
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Hotels sector advised to build the brands
GLOBAL – Hotel markets worldwide will continue to suffer in 2009 but operators should use the downturn to step up their game, according to a report by Ernst & Young (E&Y).
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Outflows hit Invista REIM’s results
UK – Invista Real Estate Investment Management suffered a 32% drop in revenue in 2008, according to preliminary results for the year.
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Canadian real estate hits 14-year low
CANADA – Canadian real estate returns fell 12.1% in 2008 to a 14-year low, according to figures released by Investment Property Databank (IPD).


