Real Estate news 鈥� Page 753
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Alaska Permanent Fund resettles in Chicago
UNITED STATES - Alaska Permanent Fund Corporation has moved back into investing in the Chicago real estate market for the first time in several years, through the purchase of The Shops at North Bridge.
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Cap rates stay low on in retail shopping
UNITED STATES - The Oregon Public Employees Retirement Fund has been able to pick up new purchases which suggests cap rates on grocery anchored shopping centers are staying low and have yet to be hit impacted by the changes in the debt market.
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PGGM extends US apartments
UNITED STATES - PGGM has decided to expand its investment in US residential property with Behringer Harvard by as much as an additional $200m (鈧�136.3m).
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CBRE "confident" on Ireland, bar housing
IRELAND - Activity in the Irish residential market will stagnate in 2008 as economic growth drives up office, retail and industrial, suggests a market report published by CB Richard Ellis.
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US state scheme invests in student housing
UNITED STATES - An unnamed US state pension fund has set up a US$100m (鈧�67.5m) account to invest in student and faculty accommodation at the University of California.
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Lombardy mall opens doors to German owner
ITALY - German property firm Union Investment has entered the Italian retail segment with the 鈧�74m acquisition of a recently completed shopping centre in Pavio, Lombardy.
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IVG doubles returns
GERMANY 鈥� German listed real estate company IVG said preliminary result for 2007 are more doubling its return on the previous year at 鈧�290m, despite the continuing sub-prime lending crisis.
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Principal buys into retail partnership
UNITED STATES - Principal Real Estate Investors has created a partnership with McCaffery Interests to invest in US retail properties.
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Core gains momentum in State of Connecticut
UNITED STATES - State of Connecticut Trust Funds has added to its core real estate portfolio by making a $75m (鈧�51.2m) commitment to the Cornerstone Patriot Fund.
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ING gets keys to ABP property
NETHERLANDS 鈥� Dutch pension fund giant ABP has signed the biggest real estate deal The Netherlands to date, and is transferring the assets of its 鈧�1.6bn KFN non-listed real estate investment trust to ING Real Estate.
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PMT sells Paris office
FRANCE - Dutch metalworkers鈥� union Pensioenfonds Metaal en Techniek (PMT) has sold its 30% share of Le Balzac, a Paris office block, to Corio, the property firm 36.6% owned by the 鈧�215bn ABP.
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Aberdeen triples German property assets
GERMANY/UK 鈥� Aberdeen Property Investors Holdings has acquired German property investement group DEGI for a cash consideration of approximately 鈧�110m.
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Pension fund vehicle acquires Nokia facility
FINLAND - An investment vehicle set up for three Nordic pension funds to invest in Finnish real estate has confirmed its move outside the capital with the acquisition of a mini-business park in Tampere.
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Indiana moves into real estate
UNITED STATES - Indiana Public Employees Retirement Fund has approved $300m (鈧�205.7m) worth of real estate investments as it moves into the asset class for the first time.
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Iowa PERS will only buy post-sale
UNITED STATES - Iowa Public Employees Retirement System has decided the only way it will be investing in real estate in 2008 is through reinvesting the sales proceeds from properties sold over the next 12 months.
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US pension funds putting capital in core strategy
UNITED STATES - Pension funds in the United States are still choosing to invest in core strategy real estate, despite evidence over recent months suggesting many funds are turning to wider diversification.
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Pension funds see potential in credit turmoil
GLOBAL - Funds that can benefit from the turmoil and dislocation rising from the credit crunch will attract institution capital in 2008, say industry experts.
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Student firm offloads assets worth 鈧�307m
UK - Unite, the UK student accommodation firm 4.5% owned by Dutch civil service scheme ABP, last week sold 拢220.3m (鈧�308m) of assets to the UK Student Accommodation Fund (USAF), in a move designed to fund its growth.
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PFA leaps allocation to tap infrastructure growth
DENMARK 鈥� The huge Danish PFA corporate pension fund has boosted its infrastructure investment and plans to move even further into the asset class next year, probably including direct investments in the sector for the first time.
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Oregon PERF investment sees new forays
UNITED STATES - Oregon Public Employees Retirement Fund has agreed to invest $150m (鈧�102.6m) into commingled funds focused on Asia and urban strategies.
