Real Estate news 鈥� Page 752
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Strapped UK investors are still shopping
UK/EUROPE - Investors are still confident in the UK shopping centre market despite a sharp drop in transaction values in the second half of 2007, according to a DTZ report.
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KBC Pensioenfonds shifts real estate for LDI
BELGIUM 鈥� KBC Pensioenfonds has significantly diversified its real estate allocation within the last eight months, in a bid to match the scheme's liability-driven investment (LDI) strategy.
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Credit crunch cost $3-4trn 鈥� JP Morgan
GLOBAL 鈥� JP Morgan officials say investment market turbulence sparked by the US subprime housing crisis may already have cost in excess of $3trn (鈧�2.04trn) in lost credit and warn there could be more to come under tightened credit pricing.
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ING Clarion targets $5bn in 2008
UNITED STATES - ING Clarion is expecting to invest $5bn (鈧�3.44bn) in real estate in the United States and Mexico in 2008 - equal to its accomplishments in 2007 despite the recent market downturn.
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Mass PRIM expands REIT program
UNITED STATES - Massachusetts Pension Reserves Investment Management Board has decided to expand its REIT investment program by increasing its allocation by 50%.
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Nevada PERS strengthens 鈥榓ll-cash鈥� core status
UNITED STATES - Nevada Public Employees Retirement System has decided to grow its real estate portfolio through the acquisition of core assets adopting all-cash purchases.
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NYSTRS buys $250m in fresh real estate
UNITED STATES - New York State Teachers Retirement System has added a mix of international, opportunistic and structured finance funds to its real estate portfolio totaling up to $250m (鈧�171.1m).
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Pramerica sets up hotel JV
UNITED STATES - Pramerica Real Estate Investors has formed a new joint venture with Ashford Hospitality Trust to invest in hotel properties through structured debt and equity.
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Canada scheme bags prime office
CANADA - CPP Investment Board (CPPIB), the investment arm of Canada鈥檚 CA$121.3bn (鈧�82bn) public pension fund, has upped its exposure to domestic prime commercial with the CA$64m (鈧�43m) investment in an Edmonton office block.
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Ireland returns 10% despite Q4 slide
IRELAND - Irish property returned just under 10% in 1007, despite dropping 2.3 percentage points to 1% in Q4, according to IPD data published last week.
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German 2nd tier delivers 7.5%
GERMANY - Investment in secondary German commercial is paying off, according to Swiss private equity investor Corestate Capital.
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Investor confidence sinks UK property
UK 鈥� The UK commercial property market saw its biggest fall in value for more than a decade in 2007, according to the Investment Property Database, but experts warn there could be more to come as investors have been selling more liquid, prime real estate.
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Ohio Police & Fire shifts direct property into core fund
UNITED STATES - Ohio Police & Fire Pension Fund has made a $200m (鈧�135.4m) investment with Invesco, as part of a deal which sees some of its properties move into its core real estate fund.
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LACERA commits to pan-European fund
UNITED STATES - Los Angeles County Employees Retirement Association has approved a $25m (鈧�16.9m) commitment into the Europa fund III commingled fund, which is also expected to contribute to Nordic and Swiss property deals.
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UK rally 'will be short-lived'
UK - Property shares will rally by up to 20% between now and mid-year before halving in value over the subsequent 18 months as the economy slides into recession, according to a research note from Morgan Stanley, the investment bank.
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AP Pension makes first direct Asia property bet
DENMARK -- AP Pension, the Danish occupational pension scheme, haschannelled DKK130m (鈧�17.4m) into an Asian property fund with aportfolio of shopping centres 鈥� its first direct foray into Asian realestate funds.
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Serbia: 'the new Poland'
EUROPE - Investors will target Balkan states for returns fast disappearing from Central and Eastern European (CEE) property markets, judging by an Serb acquisition announced last week by Merrill Lynch.
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JP Morgan creates $726m apartment JV
UNITED STATES - JP Morgan Asset Management has setup a $726m (鈧�498.6m) joint venture with Apartment Investment and Management Company to gain a co-ownership of three apartment complexes in West Los Angeles.
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Segro deal to realise Berlin airport city
GERMANY - Berlin Airport Authority and Segro have agreed the development of a 38-hectare business and logistics park next to Berlin鈥檚 Sch枚nefeld airport after the London-listed property investor acquired the land for 鈧�34m.
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ING Clarion redevelops mixed-use site
UNITED STATES - ING Clarion Partners and Panattoni Development Company have formed a joint venture to redevelop a former Boeing Company site as a major mixed-use project in Anaheim, California.
