91´«Ã½ÔÚÏß Retail News – Page 107
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HSBC Bank Pension Trust in new acquisition phase
UK – LaSalle Investment Management has purchased 50% stakes in two UK retail parks on behalf of the HSBC Bank Pension Trust.
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CPPIB and GIC turn to Brazilian real estate
AMERICAS – The Canada Pension Plan Investment Board (CPPIB), investment manager of the $105bn (€73.9bn) Canada Pension Plan, has entered into a joint venture with Brazilian property developer Cyrela Commercial Properties (CPP) to invest in commercial real estate in Brazil.
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Florida Board of Administration reassigns MS managed assets
UNITED STATES - Florida State Board of Administration has signed contracts to transfer 85% of the $2.7bn (€1.93bn) separate account assets previously managed by Morgan Stanley Real Estate to Heitman, L&B Realty Advisors and Invesco Real Estate.
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South Yorks invests in UK retail development
UK – The South Yorkshire Pension Fund has agreed to fund a shopping centre redevelopment in Wales for £11.8m.
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CalPERS in $1bn retail joint venture
US – California Public Employees' Retirement System (CalPERS) has entered into a joint venture with First Washington Realty, which will purchase close to US$1bn (€700m) in retail real estate assets from Macquarie CountryWide Trust.
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SBZ begins direct portfolio sell-off
NETHERLANDS - SBZ, the €2.2bn Dutch pension fund for care insurer employees, has made its first two disposals of direct property holdings as part of a transition to a wholly indirect real estate exposure.
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Tesco makes second property pledge to pension
UK – Tesco, the global supermarket chain, has signed another sale-and-leaseback deal with pension fund trustees, which will see the fund take a 50% stake in assets worth £458m.
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BP pension fund shops for real estate
UK - The £20.3bn (€23.1bn) pension fund for BP has bought an out-of-town retail park in the UK and an office building in London, and plans to invest a further £100-150m in its domestic real estate market before the end of the year.
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USS keeps shopping for UK real estate
UK - The £28bn (€31.7bn) Universities Superannuation Scheme has bought large retail and industrial assets in the UK and plans to make more acquisitions in the near future as it looks to rebuild its domestic portfolio.
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Rockwood Capital hits fundraising target
UNITED STATES - Rockwood Capital has closed the money raising on its Rockwood Capital Real Estate Partners Fund VIII just shy of its target, at $964m (€720.6m).
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NYSTRS extends its real estate limits
UNITED STATES - New York State Teachers Retirement System has bought a further share in a real estate backed by a European pension fund, as well as extending current management contracts.
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IPD claims German buoyancy may attract investors
GERMANY – The IPD Germany Annual Property Index showed Germany’s property returns proved more resilient during the downturn than most European real estate markets – a situation which the body argues is likely to draw more institutional investors into the market.
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Kesko sign sale-and-leaseback deal with pension fund
FINLAND – The Kesko Pension Fund has bought four retail properties for €50m from the Finnish trading company Kesko Group.
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Pensions investors enticed by Catalyst opportunities
EUROPE – Catalyst Capital LLP, a European investment and asset management firm, has secured the support of major institutional investors for its €228.5m pan-European property fund.
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West Midlands makes supermarket sweep
UK – The West Midlands Pension Fund has purchased a £36.5m (€39.6m) supermarket property in Birmingham from Land Securities, to strengthen its position for the future.
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San Diego City plans tactical moves in real estate
UNITED STATES - San Diego City Employees’ Retirement System is planning to take advantage of tactical investment opportunities in the second half of this year in certain property types.
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Norway sees property slip into the red
NORWAY –Norwegian commercial property returns fell into negative territory in 2008 after delivering 15% plus returns for three consecutive years, according to the IPD Norway Annual Property Index.
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Ahorro to create and market a 'property bad bank'
SPAIN – Ahorro Corporación, the financial services arm of Spain’s savings banks, has launched a new vehicle to dispose of over €3bn of defaulted properties on behalf of its banks.
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France to bounce back after poor 2008 - API
FRANCE - French property investments more than halved in value in 2008, however experts are confident activity will pick up, according to the Aberdeen Property Investors’ French quarterly property snapshot.
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Fund eyes retail shopping sales
UK – Sovereign Land and Strutt & Parker Real Estate Financial Services (SPREFS) are working together to create a £300m (€327m) fund to invest in UK shopping centres.
