Retail 鈥� Page 119
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New Jersey considers $350m for non-core
UNITED STATES - New Jersey Division of Investment is looking at placing $350m (鈧�232m) into non-core real estate investments through commitments to six commingled funds.
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GIC acquires Finnish retail
FINLAND - GIC, the 鈧�145bn Singapore sovereign wealth fund, has acquired 40% of one of Finland鈥檚 largest shopping centres for 鈧�131.6m.
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Strapped UK investors are still shopping
UK/EUROPE - Investors are still confident in the UK shopping centre market despite a sharp drop in transaction values in the second half of 2007, according to a DTZ report.
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Nevada PERS strengthens 鈥榓ll-cash鈥� core status
UNITED STATES - Nevada Public Employees Retirement System has decided to grow its real estate portfolio through the acquisition of core assets adopting all-cash purchases.
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Ireland returns 10% despite Q4 slide
IRELAND - Irish property returned just under 10% in 1007, despite dropping 2.3 percentage points to 1% in Q4, according to IPD data published last week.
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German 2nd tier delivers 7.5%
GERMANY - Investment in secondary German commercial is paying off, according to Swiss private equity investor Corestate Capital.
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Investor confidence sinks UK property
UK 鈥� The UK commercial property market saw its biggest fall in value for more than a decade in 2007, according to the Investment Property Database, but experts warn there could be more to come as investors have been selling more liquid, prime real estate.
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Ohio Police & Fire shifts direct property into core fund
UNITED STATES - Ohio Police & Fire Pension Fund has made a $200m (鈧�135.4m) investment with Invesco, as part of a deal which sees some of its properties move into its core real estate fund.
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LACERA commits to pan-European fund
UNITED STATES - Los Angeles County Employees Retirement Association has approved a $25m (鈧�16.9m) commitment into the Europa fund III commingled fund, which is also expected to contribute to Nordic and Swiss property deals.
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UK rally 'will be short-lived'
UK - Property shares will rally by up to 20% between now and mid-year before halving in value over the subsequent 18 months as the economy slides into recession, according to a research note from Morgan Stanley, the investment bank.
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AP Pension makes first direct Asia property bet
DENMARK -- AP Pension, the Danish occupational pension scheme, haschannelled DKK130m (鈧�17.4m) into an Asian property fund with aportfolio of shopping centres 鈥� its first direct foray into Asian realestate funds.
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Serbia: 'the new Poland'
EUROPE - Investors will target Balkan states for returns fast disappearing from Central and Eastern European (CEE) property markets, judging by an Serb acquisition announced last week by Merrill Lynch.
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ING Clarion redevelops mixed-use site
UNITED STATES - ING Clarion Partners and Panattoni Development Company have formed a joint venture to redevelop a former Boeing Company site as a major mixed-use project in Anaheim, California.
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Alaska Permanent Fund resettles in Chicago
UNITED STATES - Alaska Permanent Fund Corporation has moved back into investing in the Chicago real estate market for the first time in several years, through the purchase of The Shops at North Bridge.
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Cap rates stay low on in retail shopping
UNITED STATES - The Oregon Public Employees Retirement Fund has been able to pick up new purchases which suggests cap rates on grocery anchored shopping centers are staying low and have yet to be hit impacted by the changes in the debt market.
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CBRE "confident" on Ireland, bar housing
IRELAND - Activity in the Irish residential market will stagnate in 2008 as economic growth drives up office, retail and industrial, suggests a market report published by CB Richard Ellis.
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Lombardy mall opens doors to German owner
ITALY - German property firm Union Investment has entered the Italian retail segment with the 鈧�74m acquisition of a recently completed shopping centre in Pavio, Lombardy.
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IVG doubles returns
GERMANY 鈥� German listed real estate company IVG said preliminary result for 2007 are more doubling its return on the previous year at 鈧�290m, despite the continuing sub-prime lending crisis.
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Principal buys into retail partnership
UNITED STATES - Principal Real Estate Investors has created a partnership with McCaffery Interests to invest in US retail properties.
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Core gains momentum in State of Connecticut
UNITED STATES - State of Connecticut Trust Funds has added to its core real estate portfolio by making a $75m (鈧�51.2m) commitment to the Cornerstone Patriot Fund.
