Retail 鈥� Page 114
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Magazine
Down but not out
Despite grim news in the US retail sector, all is not doom and gloom for investors. There are bargains to be had and innovative retailers are still identifying development potential. Stephanie Schwartz-Driver reports
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News
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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Pension funds to raise real estate holdings to over 10%
GERMANY 鈥� German retirement vehicles are among the institutional investors planning the largest increase in their real estate holdings over the next two years, according to research conducted by Feri Advisors.
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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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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).
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Axa keeps on growing real estate
SCANDINAVIA 鈥� AXA Real Estate Investment Management (AXA REIM) has increased its retail investments and expanded its team in the Nordic and Baltic regions.
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Banks take over Spain鈥檚 real estate giant
SPAIN 鈥� Metrovacesa SA, Spain鈥檚 largest property firm, has handed over majority control of the company to six of its creditor banks in exchange for debt.
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IPD predicts further gloom for Ireland
IRELAND 鈥� Ireland鈥檚 real estate industry has tough times ahead and is unlikely to recover any time soon, according to analysts at the SCS/IPD Annual Results presentation in Dublin this week.
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Property investment slumped 鈧�335bn last year
GLOBAL - Global investment in commercial property plummeted 59% to $435bn (鈧�335bn) in 2008 and is likely to fall further in 2009, according to Cushman & Wakefield鈥檚 Investment Atlas 2009 analysis.
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ProLogis sells remainder of PEPF II
EUROPE 鈥� ProLogis European Properties (PEPR) has decided to sell its one-third stake in the ProLogis European Properties Fund (PEPF) II to further de-leverage the firm.
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British Land halves Meadowhall stake ahead of rights issue
UK 鈥� The British Land Company has exchanged contracts with London & Stamford Property to sell a 50% interest in the freehold of the Meadowhall Shopping Centre near Sheffield, but it is also raising additional funds through a 拢740m (鈧�819.49m) rights issue.
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Kl茅pierre rolls on with real estate sale
FRANCE 鈥� Kl茅pierre, the French real estate investment company, will continue its disposal programme to boost liquidity and expects positive growth in 2009, executives announced yesterday.
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French property market 'must adapt to survive'
FRANCE 鈥� Property experts have predicted the French real estate industry is set to deteriorate even further in 2009 as a result of the financial crisis and will have to adapt itself to investors鈥� demands in order to recover.
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Six years of UK growth wiped out - IPD
UK - The entire capital growth made over the last six years in the UK commercial real estate market has been eroded in only 18 months, according to the IPD UK Quarterly Property Index Q4 2008 published this week.
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New Jersey changes strategy with commingled capital
UNITED STATES - New Jersey Division of Investment has decided to shift $250m (鈧�190.5m) worth of commitments planned for commingled funds into different investment opportunities on the back of market performance worries.
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Arkansas searches property management
US 鈥� The $8.4bn Arkansas Teacher Retirement System (ATRS) it is looking to appoint a real estate manager to manage a $140m (鈧�107m) property portfolio.
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Land Securities warns of tenancy pressures
UK 鈥� Land Securities is retaining a 鈥渃autious outlook鈥� of the property markets after registering an increase in empty properties within its portfolio, and fears property will continue on a downward spiral over the coming months.
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Aberdeen predicts UK property bounceback
UK 鈥� Institutional investors, including UK pension funds, are likely to tap into the UK property market for attractive opportunities by the end of this year, according to Aberdeen Property Investors鈥� UK Property Snapshot.
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Japan real estate confirmed as falling year-on-year
JAPAN 鈥� Japanese real estate has delivered its first negative year-on-year capital returns, according to figures released by the Investment Property Databank (IPD) which run to the end of the third quarter 2008.
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Activity sees IVG buy German retail from AEW
Europe 鈥� AEW Europe鈥檚 pan-European fund has sold its prime retail asset in Hamburg for 鈧�94m, proving the German real estate market is still showing signs of activity despite the credit crunch.
