All articles by Shayla Walmsley 鈥� Page 44
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CPPIB renounces rights to acquire Auckland airport
CANADA/NEW ZEALAND 鈥� THE Canada Pension Plan Investment Board (CPPIB) has headed off government attempts to block foreign ownership of strategic infrastructure assets, by gaining 57.7% shareholder approval for a carefully worded bid for a minority stake in Auckland International Airport.
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Developing Europe keeps investors local
EUROPE - Turkey and Russia now outclass other European property markets for both development and investment, indicating a shift away from 鈥淥ld Europe鈥� towards new holdings and developments, suggests a report co-published by the Urban Land Institute and PwC.
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APG and ATP back INREV index campaign
EUROPE - European pension funds have lent their weight to a campaign organised by the European Association for Investors in Non-listed Real Estate Vehicles (INREV), aimed at increasing transparency among unlisted property funds.
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Finland peers down from 10-year peak
FINLAND - Finnish real estate delivered the market鈥檚 strongest performance in a decade last year, returning 11.3% 鈥揳n increase of 1.3% over the previous year, according to figures published by KTI.
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UK industry defends 'pretty good' valuers
UK - Fund managers have shored up the value of property indices against claims they adequately fail to reflect the market.
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UK property set to stabilise in summer
UK 鈥� The Real Estate Investment Trust Association (Reita) has become the latest industry body to forecast a mid-year pick-up in the UK property market.
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Fortis forms car pool with Vinci
EUROPE - Insurer Fortis is in exclusive talks with French firm Vinci to pool the firms鈥� European carpark assets in a joint venture.
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AP3 urges lifting of infrastructure limits
SWEDEN - Swedish buffer fund AP3 is stepping up its efforts to persuade the Swedish government to lift restrictions on pension fund investments in infrastructure.
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Swedish shoppers overtake industrials
SWEDEN - Swedish retail has overtaken office as the market鈥檚 best performing sector, according to the 2007 Swedish Annual Property Index.
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European property to slow despite pensions intervention
Investment in commercial property, having survived the 2007 credit crunch, will tail off in 2008 despite a liquidity injection from liquid investors, investment house Aberdeen has predicted.
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Dubai wealth fund offers 鈧�3.1bn for Colonial
GLOBAL 鈥� Sovereign wealth fund the Investment Corporation of Dubai (ICD) is seeking approval from two major shareholders in Colonial for its 鈧�3.1bn offer for the Spanish property firm.
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Doubt over debt deal could put BAA on block
SPAIN - Infrastructure firm Ferrovial has claimed it will go ahead with its 拢9bn (鈧�11.7bn) refinancing plans despite rumours suggesting Australian infrastructure investor Macquarie was circling the UK airports operator BAA.
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Pension funds pull out of Equest
UK - The BBC Pension Trust, SAUL, BHS Pension Scheme and P&O Pension Scheme have sold their shareholdings in Jersey-based property investment firm Equest Partners.
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Fair value potential entices investors back to UK
EUROPE - Continental European property yields will follow the widening UK trend in 2008, 鈥渢hough not to the same extent鈥�, according to Tony Horrell, CEO of European capital markets at Jones Lang LaSalle.
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Sovereign funds to save assets in distress
GLOBAL - Sovereign wealth funds (SWFs) will take over from private equity as they exercise their financial weight by acquiring distressed assets and companies, according to Ernst & Young鈥檚 global real estate report.
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Oil powers Canada returns
CANADA - Commercial property in oil-rich provinces contributed to Canadian returns of 16.1%, compared with 10.5% for equities, and 4.7% for bonds, according to IPD figures published last week.
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Spanish spread boosts logistics
SPAIN - Spanish logistics markets are expanding as urban sectoral growth continues at above the national average, according to a Savills report on the country鈥檚 warehousing market.
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GIC acquires Finnish retail
FINLAND - GIC, the 鈧�145bn Singapore sovereign wealth fund, has acquired 40% of one of Finland鈥檚 largest shopping centres for 鈧�131.6m.
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Hotel investors build at home, buy abroad
US/GLOBAL -US hospitality investors are looking to Asia for returns but will face increasing competition from local investors, according to a report by Ernst & Young.
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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.
