Industrial 鈥� Page 132
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CalSTRS joint venture gains new financing
US 鈥� First Industrial, the North American Real Estate Investment Trust (REIT), has arranged a new $110m (鈧�78.6m) debt facility for its ventures with the California State Teachers鈥� Retirement System (CalSTRS).
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Demand for logistics creates investment potential
EUROPE 鈥� Jones Lang LaSalle has identified Europe鈥檚 seaports as logistics hotspots for growth on the back of a significant increase in demand.
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Prologis loses chief and halts new developments
GLOBAL 鈥� ProLogis, the world鈥檚 largest logistics developer, has announced the resignation of chief executive officer Jeffrey Schwartz at a time when the company is halting further developments.
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Ohio PERS grabs opportunity to look beyond the value-add
UNITED STATES - Ohio Public Employees Retirement System will be shifting some of its investment capital in real estate to an opportunistic strategy in a bid to tap the little investment likely to surface over coming months.
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Opt for Reading over Riyadh - fund manager
MIDDLE EAST 鈥� Pension fund real estate investors should steer clear of the Middle East property, use debt if you can get it, and wait for a property market turnaround in the UK, according to asset managers.
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Choose carefully, says SEB, after UK re-entry
UK/GERMANY - Investors are investing cautiously in UK logistics as they wait for the market to fall further, according to SEB, the German fund management arm of the Swedish bank.
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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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European property returns hit by currency pressure
EUROPE 鈥� Unlisted European real estate funds saw a negative return on their investments of 鈥�3.9% in 2007, driven by the very poor performance of the UK property market as well as currency conversion pressures attached to the dollar and euro.
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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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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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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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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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UK pension funds look east for storage
UK - UK pension funds see continued traction in Central and Eastern European (CEE) logistics despite concerns over pricing in other segments of those markets.
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MagazineOpportunity by the shed load
With foreign investment continuing to flow into Asia, logistics is emerging as a serious growth opportunity for providers, with Vietnam attracting most attention. Michael Grimes reports
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MagazineMarket view: India 鈥� a competitive advantage
Logistics is increasingly becoming a strategic source of competitive advantage with the increase in the global outsourcing of production, shortening of product life cycles and intensification of global competition.
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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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CalWest assets reduce to $473m
UNITED STATES - California Public Employees Retirement System (CalPERS) and RREEF are working together at present to manage the real estate assets on the CalWest Industrial Investors LLC, but assets are now substantially lower following an earlier sale of properties.
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Duopoly to define logistics fund market
EUROPE - The European logistics market will diverge into 鈥榖lockbuster鈥� and 鈥榥iche鈥� funds, with specialist nous and tenant relationships determining asset managers鈥� survival in a shaken-out market, claims Peter Davies, fund director of the Goodman European Logistics Fund (GELF).
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SBB sells 9,800m2 to fund pensions
SWITZERLAND - The Swiss federal railways SBB has sold another one of its real estate holdings under its funding promise to the SBB pension fund.
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Pension funds "ready for Russian real estate"
RUSSIA - Pension funds 鈥� at least Nordic ones 鈥� are ready to invest in Russian real estate, having overcome earlier reluctance concerning the complexity of the market, according to Ole Dall-Hansen, chief executive of Aberdeen Property Investors Eastern Europe.
