Retail 鈥� Page 116
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Pan-European retail sustainability standard launched
EUROPE- Bre Global, a property research and consultancy group specialising in the assessment of the environmental and social impact of property developments, has launched what is said to be the first pan-European retail sustainability standard 鈥� a 鈥榞reen鈥� code of practice designed to ensure commercial development projects have minimal impact ...
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Behringer Harvard opens door to European expansion
EUROPE 鈥� Behringer Harvard, the US-based international commercial property investment fund specialists, has extended its European range with several acquisitions in Central Europe.
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Dallas Police & Fire helps fund retail venture
UNITED STATES - Dallas Police & Fire Pension System is the capital source behind a global capital relationship with its real estate manager CDK Realty Advisors and RED Development, which will invest in retail property.
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Pennsylvania Public School takes $286m risk
UNITED STATES - Pennsylvania Public School Employees Retirement System has allocated $286m (鈧�210m) in two commingled funds to target high returns in European mortgages and Asia.
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BP deal squares up to property downturn
UK- BP鈥檚 pension fund real estate arm Ropemaker Properties has formed a 拢100m UK investment fund called Cubemaker Partnership with London-based property company Cube Real Estate, that aims to take advantage of the economic downturn and acquire cheap assets.
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MagazineGolden opportunity 鈥� for those who can wait
While quality properties in Tokyo鈥檚 office and retail sectors are appealing and the city has major value-add opportunities, the liquidity drought in Asia is curbing market activity. Meanwhile economic concerns have boosted transparency, as Paul Benjamin reports
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USS confirmed among Tesco store buyers
UK 鈥� The 拢28.5bn (鈧�35.6bn) Universities鈥� Superannuation Scheme was today officially named as one of four buyers involved in the latest 拢605m sale and leaseback of UK stores owned by supermarket giant Tesco.
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Sources confirm Tesco/USS real estate deal
UK 鈥� Sources have confirmed the 拢30bn (鈧�38bn) Universities Superannuation Scheme (USS), the second-largest pension scheme in the UK, is set to purchase a number of UK supermarket chain Tesco鈥檚 largest stores.
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US giant huddles up to London
UK 鈥� Mark Wood, managing director of US pension fund giant TIAA-CREF鈥檚 global real estate business, has revealed the newly-launched London office is an attempt to 鈥渕ake sure we are as close to the market as we can be.鈥�
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Quebec extends its Brazilian shopping space
CANADA/BRAZIL 鈥� Ivanhoe Investments, the real estate management subsidiary of Canada鈥檚 largest pension fund, has boosted its position in Brazil with the purchase of four shopping centres and more than doubled its stake in a local property partner.
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Deka鈥檚 Westinvest eyes bargains in Lithuania
LITHUANIA 鈥� Deka Immobilien, the German asset manager, has shown renewed interest in the Lithuanian retail property market despite inflation pressures on the local economy, by purchasing the Akropolis shopping centre in Vilnius.
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Real estate teams sign expertise
EUROPE 鈥� Asset managers Prupim and First State Investments have made changes to their real estate teams which they hope will improve their positions in the retail and infrastructure markets.
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Los Angeles City places capital into debt fund
UNITED STATES - Los Angeles City Employees Retirement System has made a $20m (鈧�12.7m) to the Mesa West Real Estate Income Fund II, in a bid to capitalise on the supply and demand financing opportunities in the mid-size segment of the marketplace.
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Pennsylvania State moves capital into distressed fund
UNITED STATES - Pennsylvania State Employees Retirement System has approved a $15m (鈧�9.5m) into Arden Real Estate Fund I - a distressed real estate fund.
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ING Clarion closes in on value-added space
UNITED STATES - ING Clarion Partners continues with its value-added strategy for some of its capital sources with the closing of $166m (鈧�105.4m) worth of transactions.
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ABP joint venture spends 鈧�2.7bn in shopping spree
NETHERLANDS 鈥� The 鈧�205bn Dutch pension fund ABP today revealed it now owns Scandinavia鈥檚 largest shopping centre owner and developer, Steen & Str酶m, after buying the firm in a joint venture for NOK21.9bn (鈧�2.7bn).
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Qu茅bec enters scramble for Russia
CANADA/RUSSIA - Ivanhoe Cambridge, the 鈧�8bn shopping centre subsidiary of the CA$155.4bn (鈧�98.3bn) Caisse de d茅p么t et placement du Qu茅bec, has acquired a Moscow shopping centre for an undisclosed figure.
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Consortium completes German HighStreet purchase
GERMANY 鈥� A consortium comprising of RREEF Alternative Investments, the Borletti Group, the Generali Group, and Pirelli RE today announced it has completed the acquisition of a 49% stake in 鈥淗ighstreet鈥�, the investment company owning the majority of Karstadt鈥檚 German department store premises.
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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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Market expansion ends at Leipzig
GERMANY - The outward spread of Germany鈥檚 property market will halt at Leipzig, the outpost of international investibility, according to Sascha Hettrich, managing partner of King Sturge鈥檚 German office.
