Real Estate news 鈥� Page 750
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UK residential 'risky' despite 2007 returns
UK - Market fragmentation and unfavourable tax treatment are scuppering attempts to widen investment in the UK residential, Savills director Jacqui Daley said last week.
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鈧�91m spring clean at IVG
GERMANY 鈥� German real estate asset manager IVG has sold 鈧�91m in German property to London-based real estate private equity investor CIT Europe.
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Illinois Teachers signs two core accounts
UNITED STATES - Teachers鈥� Retirement System of the State of Illinois has hired Cornerstone Real Estate Advisers and Invesco Real Estate as its new core separate account real estate managers.
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Kimpton books $246m into hotels
UNITED STATES - Kimpton Group Holding raised $246m (鈧�155.6m) through institutional partners for its latest hotel investment fund, Kimpton Hospitality Partners II.
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Sponda goes to the docks
FINLAND - Finnish property firm Sponda has agreed a 鈧�12m deal with the Port of Helsinki to build a harbour service centre at Vuosaari.
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Swiss pensions increase AIFAA鈥檚 US play
UNITED STATES/SWITZERLAND - AIFAA, an investment company backed by 12 Swiss pension funds, has doubled the size of its real estate portfolio in the United States by acquiring two properties in all-cash deals for $72m (鈧�45.9m).
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VastNed forced to reconsider takeover
NETHERLANDS - VastNed Retail, the 鈧�1.8bn property fund, has beenforced by majority shareholders, such as pensions investor PGGM, tore-consider its initial refusal to a takeover bid.
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New York stores assets in Europe
UNITED STATES - New York Common Retirement Fund has added European self-storage properties to its real estate investment program for the first time with the acquisition of a 51% interest in Public Storage鈥檚 Shurgard Europe operations.
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Pension fund shops for real estate via AEW-Weingarten JV
UNITED STATES - AEW Capital Management and Weingarten Realty Investors have formed a $229m (鈧�144.2m) partnership for the recapitalization of a US-based retail portfolio, which is expected to benefit an unnamed US pension fund.
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Finnish PFs invest in Portuguese retail
FINLAND/PORTGUAL - Finnish investors, including the 鈧�24.3bn Local Government Pensions Institution and pension insurer Ilmarinen, are among the reference investors in a Portuguese shopping centre fund.
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San Diego City expands its international focus
UNITED STATES - San Diego City Employees鈥� Retirement System is growing its international real estate investment program by investing in a commingled fund and moving its domestic REIT program to a global stage.
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BP pension fund signs central London JV
UK 鈥� BP鈥檚 UK pension fund has launched a joint venture that will give the 拢13.8bn (鈧�19bn) scheme access to central London assets as part of a broader drive to increase its exposure to property.
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Logistics remains strong, except in UK
EUROPE - Logistics is still outperforming other European sectors despite a 12% fall in direct investment last year compared with 2006.
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Aberdeen pulls out of Swedish retail
SWEDEN - Aberdeen has radically reduced its exposure to Swedish retail, just weeks after the 2007 Swedish Annual Property Index claimed it as the year鈥檚 top-performing sector.
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Latecomer Swede enters Finnish market
FINLAND - The German fund management arm of Swedish bank SEB has acquired the first Finnish asset for its ImmoInvest open-ended fund, in a 鈧�23m deal for an airport-city office block outside Helsinki.
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RREEF enters German retail market
GERMANY - A RREEF-dominated consortium is to acquire 164 German properties housing Karstadt department stores, via a 49% stake in Canadian fund manager Highstreet.
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Protego seizes off-market opportunity to shop
FINLAND - Protego Real Estate Investors has acquired Helsinki鈥檚 Kamppi shopping centre for 鈧�452.5m in an off-market deal.
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Pramerica takes its next Latam leap
UNITED STATES - Pramerica Real Estate Investors has closed its latest Latin American commingled fund and completed its first transaction in Chile.
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CB Richard Ellis enters entity level
UNITED STATES - CB Richard Ellis Investors has completed its first ever entity level transaction and acquired a majority share in Atlanta-based apartment developer Wood Partners.
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LACERA books $250m into hotels and Reits
UNITED STATES - Los Angeles County Employees Retirement Association has approved $250m (鈧�158.9m) worth of new real estate commitments, to invest in listed real estate and hotels.
