Real Estate news 鈥� Page 748
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LACERA moves $50m into pan-Asia fund
UNITED STATES - Los Angeles County Employees Retirement Association had added to its international real estate exposure by committing $50m (鈧�32.2m) to the ING Real Estate Asia Value Fund.
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Vietnam gains ground in global rent rise
VIETNAM - Ho Chi Minh City has seen the world鈥檚 fastest office rent rises in the 12 months to March, with occupancy costs rising 94%, according to CBRE鈥檚 Global Market Rents survey.
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Asian retail is 'sound'
ASIA - ING Real Estate has described the Asian retail market as 鈥渇undamentally sound鈥� and announced the acquisition of 80% stakes in two Korean hypermarket developments, in a joint venture with an unnamed local insurance firm.
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Smaller funds need to be more active - NAEV
EUROPE 鈥� Smaller pension funds may need to be more active in their handling of real estate assets than larger pension funds, suggests evidence presented at the recent 麻豆映画 Real Estate Forum.
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Dutch transport funds team up to buy real estate
NETHERLANDS 鈥� The 鈧�12bn Dutch railway pension fund (SPF) and the 鈧�2bn public transport pension fund (SPOV) have, together with Generali Real Estate, bought an 鈧�80m Dutch shopping centre project.
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JPMorgan raises $600m for China fund
UNITED STATES - JPMorgan Asset Management raised in excess of $600m (鈧�380.6m) for its latest commingled fund, the JPMorgan Greater China Property Fund.
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UK 'real values' yet to see full impact
UK - The UK property market is approaching fair value, but it has yet to face the fall-out from an economic downturn, according to British Land CEO Stephen Hester.
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Corio expects equalled 2008 result
NETHERLANDS - Property investor Corio expects its 2008 results to be in line with last year鈥檚 return, after announcing its 2007 performance gained 2.7% to over 鈧�203m.
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ING Clarion sees guarded US investors
UNITED STATES- ING Clarion Partners believes any pension funds in the United States are going to be taking a very cautious approach to investing in real estate this year.
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New York Common looks at urban space
UNITED STATES - New York Common Retirement Fund has made a $285m (鈧�182.1m) commitment to the JP Morgan Star Lake Fund I, which invests in urban real estate across the major US metropolitan markets.
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Louisiana Teachers places $125m in 鈥渞eal assets鈥�
UNITED STATES- Teachers鈥� Retirement System of Louisiana has placed $125m (鈧�80.2m) into new real estate investments, as part of its unique view of real estate investing.
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San Francisco reduces real estate flow by $550m
UNITED STATES - City and County of San Francisco Employees鈥� Retirement System has reduced significantly the amount of capital it is investing in real estate for the 2008/2009 fiscal year.
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German retail 鈥榞ood for long term鈥�
GERMANY - Investors should invest in German retail for the long term, but exercise regional caution in a market characterised for strong demand and limited supply, according to fund manager Cordea Savills.
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Illinois Teachers harvests farming growth
UNITED STATES 鈥� The Teachers Retirement System for the State of Illinois has sold its entire agricultural real estate portfolio for $340m (鈧�220.2m) to TIAA-CREF.
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Pennsylvania puts $925m beyond the core
UNITED STATES - Pennsylvania Public School Employees鈥� Retirement System has approved $925m (鈧�598.8m) into new real estate investments through a variety of non-core commingled funds.
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Waterton moves into hotel
UNITED STATES - Waterton Associates is set to create a hotel investment fund for the first time in the company鈥檚 history.
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Austrian property outperforms, despite sector fall
AUSTRIA - Austrian real estate returns outperformed both equities and bonds in 2007, despite a decline in retail 鈥� the best performing sector.
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Sponda sticks with Russia despite Finnish optimism
RUSSIA 鈥� Sponda鈥檚 chief executive Kari Inkinen said the Finnish property firm was on course for its planned Russian expansion despite a fall in interim profits from the same period last year.
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Pirelli punts on Euro-property fund
EUROPE - Pirelli Real Estate is targeting international pension funds with an opportunistic pan-European property fund it plans to launch early next year.
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UK residential ready for institutions
UK - The UK residential market is ready for pension fund investors despite being fragmented and dominated by amateur property managers, according to property firm Nice.
