Residential 鈥� Page 150
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BP pension fund shops for real estate
UK - The 拢20.3bn (鈧�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 拢100-150m in its domestic real estate market before the end of the year.
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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 (鈧�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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UK seeks pension fund investment in housing
UK - Plans to encourage pension funds to invest in private rented housing have been announced by the UK government鈥檚 Housing and Communities Agency (HCA).
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IPD claims German buoyancy may attract investors
GERMANY 鈥� The IPD Germany Annual Property Index showed Germany鈥檚 property returns proved more resilient during the downturn than most European real estate markets 鈥� a situation which the body argues is likely to draw more institutional investors into the market.
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Pensions investors enticed by Catalyst opportunities
EUROPE 鈥� Catalyst Capital LLP, a European investment and asset management firm, has secured the support of major institutional investors for its 鈧�228.5m pan-European property fund.
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San Diego City plans tactical moves in real estate
UNITED STATES - San Diego City Employees鈥� 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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Reita claims residential Reits are a good buy
EUROPE - Institutional investors should consider investing in residential property as an asset class and push for residential Real Estate Investment Trusts (REITs), according to Reita鈥檚 panel of property investment experts.
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CalPERS sees demand for member mortgages triple
US 鈥� California Public Employees鈥� Retirement System鈥檚 (CalPERS鈥�) Member Home Loan Programme has tripled in size over the last year thanks to its conservative mortgage practices, according to CalPERS鈥� Investment Committee.
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Mexican pensions to focus on home properties
MEXICO 鈥� Mexican pension funds have agreed to only invest in domestic investments this year and will focus on investing in real estate to help boost the struggling Mexican economy.
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Ahorro to create and market a 'property bad bank'
SPAIN 鈥� Ahorro Corporaci贸n, the financial services arm of Spain鈥檚 savings banks, has launched a new vehicle to dispose of over 鈧�3bn of defaulted properties on behalf of its banks.
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Maryland to invest in real estate this year
US 鈥� The Maryland State Retirement and Pension System (SRPS) has committed around $600m ($477m) to real estate funds for 2009.
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Knight Frank warms to residential new builds
UK 鈥� London鈥檚 prime new build residential market is becoming increasingly attractive to investors and developers, and could be beginning to level out, according to Knight Frank鈥檚 2009 London residential development review.
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Student accommodation reopens under revised terms
UK 鈥� Brandeaux has reopened its student accommodation fund this week by issuing a new share class and amending redemptions rules.
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Sweden sees first signs of real estate downturn
SWEDEN 鈥� Swedish commercial real estate returns fell to -3.3% in 2008, according to latest figures from the SFI/IPD Index published by the Investment Property Databank (IPD).
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Illinois Teaches ends two separate account relationships
UNITED STATES 鈥� The Teachers Retirement System of the State of Illinois is terminating separate account relationships with Commonwealth Realty Advisors and Stone Levy, and has asked Heitman to manage some of the assets instead.
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S&P predicts further gloom in US housing
US 鈥� The residential real estate market in the United States looks set to continue falling in 2009 after house price declines reached record lows at the end of 2008, according to Standard & Poor鈥檚 Case-Shiller Home Prices Indices.
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Hotels sector advised to build the brands
GLOBAL 鈥� Hotel markets worldwide will continue to suffer in 2009 but operators should use the downturn to step up their game, according to a report by Ernst & Young (E&Y).
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Outflows hit Invista REIM鈥檚 results
UK 鈥� Invista Real Estate Investment Management suffered a 32% drop in revenue in 2008, according to preliminary results for the year.
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Canadian real estate hits 14-year low
CANADA 鈥� Canadian real estate returns fell 12.1% in 2008 to a 14-year low, according to figures released by Investment Property Databank (IPD).
