Real Estate news 鈥� Page 745
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SEB to cash in on expanding Cologne office market
GERMANY - Frankfurt-based SEB Asset Management (SEB) has further expanded its German property holdings with the purchase of a major office building in Cologne which adds 鈧�75m to the group鈥檚 existing 鈧�132bn assets under management.
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Sacramento County plays strong hand on real estate
UNITED STATES - Sacramento County Employees Retirement System is now in the process of looking at firms to manage an ex-US public REITs strategy, but has rejected plans from one of its managers to change a fund鈥檚 existing strategy.
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CalPERS taps call for debt liquidity
UNITED STATES - California Public Employees Retirement System has made a $200m (鈧�135.4bn) commitment into a US Debt Fund investment run by JER Investors Trust, to take advantage of dislocation in the credit markets.
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Student housing firm鈥檚 projects to target graduates
UK 鈥� London-based specialist property development group Unite is planning to build two student residence blocks worth 鈧�68m in London, and expanding its repertoire to try and plug the demand for housing among graduates.
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鈥楥heesegrater鈥� put on hold as UK economy falters
UK - British Land has postponed plans to build a gleaming 220m skyscraper in the City of London, as falling demand for office space underlines the downward spiral of the UK economy.
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CalPERS sets new frontiers for markets and infrastructure
UNITED STATES - California Public Employees Retirement System has formulated ranges for investing additional capital in emerging and frontier markets and put unveiled its investment guidelines for investing in infrastructure.
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Pennsylvania Public School invests $775m
UNITED STATES - Pennsylvania Public School Employees Retirement System has approved new real estate commitments totaling $775m (鈧�526.4m) in four commingled funds, including a $400m chunk with Beacon Capital.
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Pramerica venture to invest in Manhattan skyline
UNITED STATES - Pramerica Real Estate Investors has formed a joint venture with L&L Holding Company to invest in New York City office buildings.
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Contra Costa County seeks moves into wider space
UNITED STATES - Contra Costa County Employees Retirement System is looking to make some big moves into the opportunity fund sector of real estate.
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San Francisco City and County turn to distressed debt
UNITED STATES - San Francisco City and County Employees鈥� Retirement System has made a 鈧�20m commitment into the Apollo European Principal Finance fund, to tap into the growing demand for distressed debt support.
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USS confirmed among Tesco store buyers
UK 鈥� The 拢28.5bn (鈧�35.6bn) Universities鈥� Superannuation Scheme was today officially named as one of four buyers involved in the latest 拢605m sale and leaseback of UK stores owned by supermarket giant Tesco.
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Sources confirm Tesco/USS real estate deal
UK 鈥� Sources have confirmed the 拢30bn (鈧�38bn) Universities Superannuation Scheme (USS), the second-largest pension scheme in the UK, is set to purchase a number of UK supermarket chain Tesco鈥檚 largest stores.
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Swiss-backed AIFAA expands US strategy to Texas
UNITED STATES - AIFAA, an investment company backed by 12 Swiss pension funds, has extended its real estate portfolio to Texas for the first time with the $82m (鈧�54.8m) acquisition of the Wells Fargo Tower office building in Austin, Texas.
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Mass PRIM buys its first properties of 鈥�08
UNITED STATES - Massachusetts Pension Reserves Investment Management Board has closed the deal on its first two direct property acquisitions in 2008 and paid a total of $177.1m (鈧�118.6m) for the assets.
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Illinois Teachers targets emerging managers real estate programme
UNITED STATES 鈥� The Teachers鈥� Retirement System of the State of Illinois is planning to create an emerging manager programme as part of its future real estate investment programme.
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US giant huddles up to London
UK 鈥� Mark Wood, managing director of US pension fund giant TIAA-CREF鈥檚 global real estate business, has revealed the newly-launched London office is an attempt to 鈥渕ake sure we are as close to the market as we can be.鈥�
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Quebec extends its Brazilian shopping space
CANADA/BRAZIL 鈥� Ivanhoe Investments, the real estate management subsidiary of Canada鈥檚 largest pension fund, has boosted its position in Brazil with the purchase of four shopping centres and more than doubled its stake in a local property partner.
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Schroders seeks growth on agricultural land
GLOBAL 鈥� Schroders, the asset manager, is hoping to tap into growing global demand for food production by investing in agricultural land.
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Deka鈥檚 Westinvest eyes bargains in Lithuania
LITHUANIA 鈥� Deka Immobilien, the German asset manager, has shown renewed interest in the Lithuanian retail property market despite inflation pressures on the local economy, by purchasing the Akropolis shopping centre in Vilnius.
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NYSTRS provides the finance for real estate mortgages
UNITED STATES - New York State Teachers Retirement System has expanded its real estate portfolio with a commitment to several mortgaged transactions and a commingled fund.
