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German real estate funds in the Euro crisis: Solid returns in local markets

Posted on 15 May 2013 by Laxman  |  Email |Print

First quarter 2013 results for German institutional property funds and German retail property funds stood at 0.3% and 0.0% respectively. In both groups of funds, those vehicles invested in Germany substantially outperformed European-targeted funds.
Daniel Piazolo, Managing Director of IPD, said, “We now receive data at least quarterly for 152 German funds with a Net Asset Value of EUR 105 bn. We are therefore in a position to provide crucial insights into the performance of all real estate funds subject to German investment law”……………………………………Full Article: Source

Dubai ready to launch $500 million property fund

Posted on 10 May 2013 by Laxman  |  Email |Print

A $500 million investment fund targeting distressed and stalled properties in Dubai should be operational by the end of the year, according to the fund’s chief executive.
Investment Corporation of Dubai (ICD), one of Dubai’s sovereign wealth funds, and Canada-based Brookfield Asset Management originally announced the formation of a $1 billion fund in 2011. The fund, described as the first of its kind to focus on Dubai, was promoted as a way to inject new liquidity into the market………………………………….Full Article: Source

Fund targets Latin American housing

Posted on 09 May 2013 by Laxman  |  Email |Print

The U.S. government’s Overseas Private Investment Corporation is investing $100 million in Paladin Realty Latin America Investors IV, a fund targeting housing development in Latin America. Paladin aims to build 12,000 affordable housing units for Latin America’s growing workforce, particularly first-time home.
With an initial closing of $75 million earlier this year, the fund hopes to reach a capitalization target of $400 million to $600 million, according to the release. “This new fund will continue Paladin Realty’s 15-year strategy of supporting affordable homeownership in Latin America and the growth of its housing industry,” OPIC chief executive Elizabeth L. Littlefield said………………………………….Full Article: Source

Norges’ property portfolio balloons in Q1 but return slips

Posted on 07 May 2013 by Laxman  |  Email |Print

Norway’s giant government pension fund saw the market value of its real estate portfolio climb almost by half in the first three months of 2013 following a series of major deals. Norges Bank Investment Management (NBIM) - manager of the Norwegian Pension Fund Global - reported that the market value of the real estate portfolio stood at NOK 37 bn (€4.8 bn) in the first quarter of this year. This marked a 48% increase on the total of NOK 25 bn for the fourth quarter of 2012.
However, the fund’s investments in real estate returned -0.3% in the first quarter, down from a positive 0.49% for the previous quarter. In contrast, equity investments (62% of the fund’s overall holdings) returned 8.3%, while fixed-income investments (37%) returned 1.1%………………………………………..Full Article: Source

Big funds see commercial property opportunity

Posted on 30 April 2013 by Laxman  |  Email |Print

The big investments funds are not always smarter or better than smaller investors. But every once in a while they spot opportunities that others miss. A prime example can be found in Europe, where funds are scooping up office projects that have been undervalued by the market.
The key is looking for offices that have tenants with short term leases. Offices with tenants with long term leases are typically valued as much as 30 percent more than similar buildings with tenants with less than five years remaining on their leases………………………………………..Full Article: Source

Blackstone sees big opportunities in China’s property market

Posted on 23 April 2013 by Laxman  |  Email |Print

The head of Blackstone, the world’s largest alternative investment fund, sees a big opportunity in Chinese real estate.
Stephen Schwarzman, who left Lehmann Brothers to build Blackstone from a six-figure company into the $210 billion behemoth it is today, believes that while there are some troubles in China’s economy there are big gains in distressed real estate………………………………………..Full Article: Source

Should you use rental properties to fund retirement?

Posted on 22 April 2013 by Laxman  |  Email |Print

You may have heard that rental properties can be a great way to generate passive income. Rental properties can provide monthly cash flow, protect against inflation, and usually appreciate over the long term.
Some retirees swear by rental properties instead of the usual stock and bond portfolio because they don’t have to stomach the volatile stock market swings. Owning rental properties can help fund your retirement, but being a landlord isn’t for everyone………………………………………..Full Article: Source

S.Africa: Where to now for real estate funds?

Posted on 22 April 2013 by Laxman  |  Email |Print

Funds that invest in real estate both locally and globally are, on average returns, among the top three performers over both the three- and one-year periods to the end of March. Local real estate funds were also the best performing sub-category over five years to the end of March.
Keillen Ndlovu, the head of the listed property franchise at Stanlib, says the property market is being driven by the strong local bond market. Listed property performs in line with the bond market because of its income-generating ability………………………………………..Full Article: Source

Investors commit $6.5 bln to property funds in March

Posted on 18 April 2013 by Laxman  |  Email |Print

Real estate funds announced $6.5 bn (€4.7 bn) of capital commitments globally during March, according to online fund community Indirex. Globally, 54 announcements were reported in March, with 37 of these involving new equity commitments.
North America attracted over half of the cash with Europe taking 16% and Asia 12%. In Europe, 11 announcements were made with four pertaining to capital commitments. The largest was the $500 mln first closing of La Banque Postale Asset Managements’ Infrastructure Debt fund…………………………………..Full Article: Source

German property funds outperform European and global investment vehicles

Posted on 18 April 2013 by Laxman  |  Email |Print

German property funds tracked by UK performance analysis group IPD outperformed global and Europe-focused property investment vehicles in the year to March 2013, returning 2.3 percent as against -1.0 percent for global and -0.3 percent for European property funds, IPD said in its monthly assessment of the sector. The report also showed that inflows surpassed outflows from liquidating property funds, indicating a return of investor confidence in Germany’s real estate market.
According to the IPD German Monthly Open Ended Funds Index OFIX, over the past year only German-allocated funds outperformed inflation, 1.4 percent in the 12 months to March, while European and global sub-indexes returned losses in both real and nominal terms…………………………………..Full Article: Source

Europe: Investors pile into real estate securities funds

Posted on 10 April 2013 by Laxman  |  Email |Print

Growing appetite for listed property exposure since the onset of the global financial crisis has led to a surge in real estate securities funds. This is because a property allocation gained through the listed sector plus the attractive income returns appeal to a broader range of investors, according to the European Public Real Estate Association (EPRA).
Assets under management of real estate securities funds grew 68% to $250 bn (€192 bn) from 2007 to 2012, according to research by consultancy company Consilia Capital and Property Funds Research for EPRA.The findings show that the number of real estate securities funds increased 39% to 677 over the same period………………………………………..Full Article: Source

Global funds keen on China property

Posted on 27 March 2013 by Laxman  |  Email |Print

China may see an increase in property transactions involving international investors this year, fuelled by the economic recovery and the rosy outlook of China’s commercial properties, industry experts said.
“On the one hand, a number of deals are in the pipeline after lots of negotiations were conducted last year. On the other hand, the top management of international real-estate funds are also under pressure because few deals were concluded last year,” Mr Andy Zhang, managing director of Cushman & Wakefield China, told China Daily………………………………………..Full Article: Source

SWFs poised to be aggressive with US CRE

Posted on 20 March 2013 by Laxman  |  Email |Print

Sovereign wealth funds, it is no secret, have been steadily building up a war chest of funds and all signs point to an unleashing this year. What may take some by surprise is the level of their wealth and the aggressiveness by which they will deploy their assets—especially as they step up their property investments.
One example is Norway’s Government Pension Fund Global, which recently acquired commercial real estate in the US, including Washington, DC………………………………………..Full Article: Source

Buyout firm TPG to try hand at property fund

Posted on 14 March 2013 by Laxman  |  Email |Print

Lots of real-estate funds that used piles of borrowed money to buy risky properties got crushed during the financial crisis. Now, buyout firm TPG Capital is offering a new twist while mining some of the same territory with its first real-estate fund.
The firm expects to start raising money in the second half of 2013 with a target of at least $1 billion, said people familiar with TPG’s plans. TPG officials acknowledged plans to raise a fund but declined to discuss specifics or timing………………………………….Full Article: Source

Finnish institutional investors’ international real estate fund of funds launched

Posted on 14 March 2013 by Laxman  |  Email |Print

A real estate fund of funds set up by Pohjola Property Management Ltd called Real Estate Debt and Secondaries Ky (REDS) has accumulated EUR 100 million at the first closing. The funds will be invested in international real estate funds’ secondary interests, real estate loan funds and other investment instruments that specifically utilise the real estate market situation.
According to Markku Makiaho, Managing Director of Pohjola Property Management Ltd, the fact that REDS was set up is a sign of a gradual change in the market situation. “Finnish institutions are again prepared to invest in foreign real estate through funds and other indirect investment instruments,” says Mr Makiaho………………………………….Full Article: Source

Fund returns weaken in 2012: IPD

Posted on 13 March 2013 by Laxman  |  Email |Print

Pan-European property funds posted a negative return of 2% over the final quarter of 2012 as the eurozone crisis continued to take its toll, IPD said. The negative quarterly performance was the third in a row as returns continued to be dragged down by value declines in the direct real estate market as a result of the eurozone crisis.
The IPD index is based on the full universe of pan-European open-ended funds that are appraised quarterly according to IFRS standards………………………………………..Full Article: Source

More funds investing in property markets: CBRE

Posted on 07 March 2013 by Laxman  |  Email |Print

There will be a rise in funds going into direct property markets globally, said officials from CBRE Group, one of the world’s largest real estate services firms. This stems from increased allocation by sovereign wealth funds (SWFs), deregulations in regional countries’ insurance industry, and the demand for yield diversification away from the home market.
“In certain markets, we are going to see compression of yield due to the sheer weight of the capital moving into the markets,” Greg Penn, CBRE’s managing director, Capital Markets, Asia, said at a press conference to share the group’s insights on cross-border fund activity for 2013………………………………………..Full Article: Source

Dubai’s property market set to witness $1 bln influx

Posted on 01 March 2013 by Laxman  |  Email |Print

Dubai’s real estate market, which is witnessing a resurgence this year, will get another major shot in the arm when the $1-billion Investment Corporation of Dubai (ICD)-Brookfield Dubai Real Estate Fund gets underway.
A move to start the fund was made on Wednesday with ICD and Brookfield Asset Management, the co-promoters of the fund, named Douglas Kirkman, Senior Vice-President of the Brookfield Property Group, as Chief Executive Officer of ICD-Brookfield Management Limited, the firm that will manage the fund………………………………………..Full Article: Source

Saudi CMA: More real estate investment funds needed

Posted on 14 February 2013 by Laxman  |  Email |Print

There is a growing demand from investment companies to participate with real estate developers to offer more real estate investment funds, Dr. Mohammed Bin Abdul Malak Al-Sheikh, President of the Capital Market Authority, has said.
In a speech at the Real Estate Investment Fund Forum in Riyadh, delivered on his behalf by Dr. Abdulrahman Al-Barrak, member of the CMA Board, Dr. Al-Sheikh said the number of real estate investment funds, both public and private, is now 58………………………………………..Full Article: Source

Strong market growth follows stable returns in German real estate funds

Posted on 13 February 2013 by Laxman  |  Email |Print

In the last three months of 2012, the quarterly performance of all funds in the IPD/BVI German Quarterly Spezialfonds Index was 0.5%, up from 0.2% in the third quarter. The sub-index for funds mainly invested in Germany stood at 0.8%, substantially higher than for funds focused on European markets, which registered 0.1%.
German institutional property funds produced a total return of 1.8% at the fund level (NAV) in 2012. Funds with an investment focus on Germany substantially outperformed the market, with an annual return of 3.5% as against 0.6% for funds with a European focus. These are findings of the latest quarterly report by IPD, for Q4 2012, and the year 2012 as a whole………………………………………..Full Article: Source

Global listed property outperforms global equities by 8.6pct

Posted on 12 February 2013 by Laxman  |  Email |Print

Due to investor appetite for yield and safe-haven sectors, global listed property had significantly outperformed most major asset classes during 2012, a research paper reveals. While fund performance has been impressive in an absolute sense, the Lonsec Global Property Securities Fund Sector Review rates the relative performance as somewhat disappointing.
The Lonsec report reveals that global property securities outperformed global equities by 8.6% over the year to November 2012, and by 8.7% annually over a three-year period………………………………………..Full Article: Source

Global listed property fund managers under-perform benchmark

Posted on 12 February 2013 by Laxman  |  Email |Print

The last 12 months saw both major global listed property indices return over 25 per cent to November 2012, but most fund managers fell short of the benchmark, according to the Lonsec Global Property Securities Fund Sector Review.
The sector largely rebounded from the lows experienced during the global financial crisis, outperforming global equities by 8.6 per cent over the year and 8.7 per cent over a three-year period, Lonsec stated. Despite this, the relative performance of funds was difficult to determine since a number of funds are benchmarked to different indices, Lonsec senior investment analyst Andrew Coutts said………………………………………..Full Article: Source

Norway sovereign wealth fund enters US property market

Posted on 12 February 2013 by Laxman  |  Email |Print

Norway’s Government Pension Fund, the world’s largest sovereign wealth fund, said Monday it had entered the US real estate market by investing $600 million (448 million euros) in five office properties.
The fund bought a 49.9 percent stake in five office buildings in Washington DC, New York and Boston after forming a joint venture with the seller, TIAA-CREF, a pension fund. The US fund will retain a 50.1 percent holding and will be responsible for managing the properties, it said………………………………………..Full Article: Source

Italian listed RE funds bounce in January – BNP PRE

Posted on 12 February 2013 by Laxman  |  Email |Print

Italian listed property funds recovered strongly in January, bouncing back to April 2012 levels after a continuous negative trend since March 2011, says realtor BNP Paribas Real Estate.
The BNP Paribas REIM Italian Index measuring property fund performance rose by 15.5% on December, almost fully recovering the loss of last year, BNPRE said in its regular monthly report. As a consequence, the aggregate discount to net asset value on just over 30 such funds narrowed to just over 50% from its widest of around 60% in autumn………………………………………..Full Article: Source

Real estate investors not always very keen on hedge funds

Posted on 12 February 2013 by Laxman  |  Email |Print

Real estate investors are not your usual investors and most of the times, could be biased against hedge funds, said Marc Lehmann, General Partner at Riverloft Capital during the latest Opalesque Florida Roundtable. The Roundtable took place in December 2012 at Wells Fargo’s Miami office and was sponsored by Wells Fargo and Eurex.
Lehmann said, “I found it outrageous how some investors are in fact able to cope with a decline of real estate prices of 40% or 50%, but do not want to deal with the volatility of the stock market or with hedge fund investing. There is a certain level of resiliency towards volatility, but when it comes to hedge funds and the stock market, they feel different. Somehow they feel empowered by price quotes on Yahoo Finance or whatever platforms they use to look at price history and make judgment without proper fundamental analyses.”……………………………………….Full Article: Source

UK property fund managers put up the gates

Posted on 11 February 2013 by Laxman  |  Email |Print

UK property fund managers are again attempting to impede investors from exiting funds as performance stalls. The so-called gates are being put up as property funds suffer from a growing divide in values between prime locations and weaker real estate in secondary markets.
In a fourth quarter report, Aviva Investors’ £1.1bn pensions property fund deferred redemptions for up to 12 months after experiencing an increase in requests from investors to pull their money………………………………………..Full Article: Source

US housing recovery called into question by M&G

Posted on 05 February 2013 by Laxman  |  Email |Print

M&G’s Global Real Estate Securities fund manager has questioned the wisdom behind equity investors attempting to buy into a US housing market recovery. Gillian Tiltman, who has run the £80.2m fund since June 2010, said that the US housing market would pick up as part of a cyclical recovery, but warned against hope of a “structural recovery”.
The manager said that home ownership had swelled to roughly 68 per cent in the US before the financial crisis due to the easy availability of mortgages. It had since fallen to approximately 60 per cent, but Ms Tiltman said the eight percentage-point drop was largely down to a “segment of the market that isn’t real”…………………………………..Full Article: Source

Should investors reconsider commercial property?

Posted on 30 January 2013 by Laxman  |  Email |Print

Giant pension fund piles into property as analysts say now is the time to snap up cheap exposure. Property investors have seen their holdings fall on average 11.4pc over the past five years, with some investors losing a quarter of their cash.
Analysis of returns from 42 funds in the IMA Property Sector by shared equity mortgage provider Castle Trust showed the worst fund lost 26.6pc over the period………………………………………..Full Article: Source

Singapore’s GIC invests in $1.6 bln UK property fund

Posted on 29 January 2013 by Laxman  |  Email |Print

Singapore’s sovereign wealth fund has backed a 1 billion pound lending programme for British offices, shops and warehouse property that could bring much-needed funds into a debt-starved sector.
The Government of Singapore Investment Corporation GIC.UL, one of the world’s largest sovereign wealth funds, will underwrite the loans to be issued by commercial mortgage provider Laxfield Capital………………………………………..Full Article: Source

Germany retains lead as preferred destination

Posted on 28 January 2013 by Laxman  |  Email |Print

Germany has retained its title as favoured investment location in Europe, according to the latest Investor Intentions survey published by INREV. Almost 68% of investors polled in the suvey and as much as 92.3% of fund of funds managers opted for allocations to this region.
The Nordic markets ranked second with 60% of investors selecting this as their preferred location, largely driven by their own domestic investments. The UK remains in third position with 32% of investors giving it the thumbs up………………………………………..Full Article: Source

5 funds to play the real estate rebound

Posted on 24 January 2013 by Laxman  |  Email |Print

Last year was certainly stellar for the real estate market. Homebuilders like KB Home, PulteGroup, Lennar and Hovnanian Enterprises saw their share prices more than double.
And it looks like the good times will continue. Consider that during the first nine months of 2012, housing permits spiked by 32%, and the median single-family home price rose about 6%. During this time, the growth in sales of new homes increased 23%, versus 8% for existing homes………………………………………..Full Article: Source

Blackstone rushes $2.5 bln purchase as homes rise

Posted on 10 January 2013 by Laxman  |  Email |Print

Blackstone Group LP (BX), the largest U.S. private real estate owner, accelerated purchases of single- family homes as prices jumped faster than it expected.
Blackstone has spent more than $2.5 billion on 16,000 homes to manage as rentals, deploying capital from the $13.3 billion fund it raised last year, said Jonathan Gray, global head of real estate for the world’s largest private equity firm. That’s up from $1 billion of homes owned in October, when Blackstone Chairman Stephen Schwarzman said the company was spending $100 million a week on houses………………………………………..Full Article: Source

To Canadian funds, U.S. real estate looks ripe

Posted on 09 January 2013 by Laxman  |  Email |Print

The Canadians are coming. Pension funds north of the border have poured about $9 billion into U.S. commercial real estate in the past three years, after largely steering clear of owning hotels, office buildings and apartments in the U.S. before then.
While there are only a handful of big funds that are active abroad, they are having a disproportionate impact on the U.S. market by funding ambitious plans that domestic investors have been afraid to touch………………………………………..Full Article: Source

Northern European property funds flirt with recovery in 3Q - IPD

Posted on 08 January 2013 by Laxman  |  Email |Print

Northern European property funds may have turned a corner in investment returns in the third quarter though southern Europe continues to suffer, says Investment Property Databank. Net asset values rose in the Nordic region though UK and Germany stayed in the black solely due to income returns.
In its latest Pan-European Fund Index, IPD said each of its quarterly national fund indices for the continent registered a higher total return for 3Q12 than for 2Q12. But the improvement was more a case of ‘less bad’ than ‘better’, as the overall quarterly return remained negative at -0.12% for the quarter………………………………………..Full Article: Source

Colliers International: German open-ended funds and the Eastern European investment market

Posted on 07 January 2013 by Laxman  |  Email |Print

As of the end of 2012, German Open-Ended Funds (GEOFs) hold assets worth around €83 billion globally. The report examines the current and potential future impact from the liquidation of GOEFs on the Eastern European investment market.
The key findings of the report: Approximately €4.5 billion worth of assets in Eastern Europe are currently held by GOEF‘s………………………………………..Full Article: Source

Asia: Property equity funds greatly outperform direct investors

Posted on 19 December 2012 by Laxman  |  Email |Print

Asian property securities led the way in terms of total return during this year, as the Henderson Horizon Asia Pacific Property Equities fund and the First State Asian Property Securities fund are the top two performers in the IMA Property sector year to date, returning 36.2 per cent and 33.5 per cent respectively.
In total, 12 members of the IMA Property sector have delivered returns of over 20 per cent this year, all of which invest in property securities. Seven members of the sector have lost money this year, all of which invest directly in property………………………………………..Full Article: Source

India real estate funds lose sheen

Posted on 14 December 2012 by Laxman  |  Email |Print

The Indian real estate sector, once considered a safe high-return option and now battling a slowdown amid stagnating sales, is facing funding problems with overseas investors.
Private equity companies focussed on real estate are finding it tough to raise funds through foreign high net-worth individuals (HNIs) and institutions alike as India-focussed real estate funds falter on returns………………………………………..Full Article: Source

UK: Focused real estate funds outperform

Posted on 13 December 2012 by Laxman  |  Email |Print

Analysis from BDO, the accountancy group, has shown that the best real estate investment trusts (REITs) in the UK are region or sector specific, but size has no bearing on performance.
The survey found that four of the top five REITs had a narrow geographic focus, while seven of the best ten had a specific sector or geographic emphasis. The study found no correlation between a REIT’s market capitalisation and its results. ‘Despite challenging real estate markets and the backdrop of uncertain economic conditions, the majority of UK REITs continue to perform well,’ commented Tracy Dossett, tax director within the real estate and construction sector at BDO………………………………………..Full Article: Source

Lone Star in EUR1bln German property deal

Posted on 13 December 2012 by Laxman  |  Email |Print

The German government has completed its largest privatisation since the start of the financial crisis, selling a €1.1bn portfolio of offices, shops and warehouses to Lone Star, the US private equity fund.
The sale of TLG, set up to manage government-owned real estate in the wake of Germany’s 1990 unification, underlines the depth of investor interest in the German property market at a time of rising prices and rent increases in many cities………………………………………..Full Article: Source

Blackstone said to seek at least $2 bln for Asia fund

Posted on 11 December 2012 by Laxman  |  Email |Print

Blackstone Group LP (BX), the biggest manager of real estate private-equity funds, seeks to raise more than $2 billion for its first property pool focused on Asia, a person with knowledge of the effort said.
The exact amount hasn’t been determined, said the person, who asked not to be identified because the information is private. Tony James, New York-based Blackstone’s president and chief operating officer, hinted at the company’s plans last week at a conference sponsored by Goldman Sachs Group Inc………………………………………..Full Article: Source

Property sector set to gain from Asian funds boost-LaSalle

Posted on 06 December 2012 by Laxman  |  Email |Print

Asian commercial property prices will be supported by increased demand from the region’s investment funds as they look to boost their exposure to the sector, real estate firm LaSalle Investment Management said.
The firm said Asian institutions are under-allocated compared with their European and North American peers which invest around 5 to 10 percent of their portfolios to real estate………………………………………..Full Article: Source

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Blackstone launching Asian real estate fund

Posted on 06 December 2012 by Laxman  |  Email |Print

Blackstone Group LP is starting a new real estate fund focused on Asia as it seizes on a “golden moment” to buy and sell in the property market, its president said on Wednesday.
Blackstone, founded by Stephen Schwarzman and Peter Peterson in 1985, is still best-known for its private equity business, yet is now the world’s largest private real estate firm with $53.5 billion of property assets under management………………………………………..Full Article: Source

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Norway Wealth Fund to spend $11bln adding U.S. real estate

Posted on 03 December 2012 by Laxman  |  Email |Print

Norway’s $660 billion sovereign wealth fund, the world’s largest, plans to invest about $11 billion as it enters the U.S. real estate market. The fund, mandated by the country’s finance ministry to eventually put 5 percent of assets in property, wants one-third of that, or 1.7 percent, to be in the U.S., said Yngve Slyngstad, chief executive officer of Oslo-based Norges Bank Investment Management, which oversees the pool.
The fund held 0.3 percent in real estate, 60.3 percent in stocks and 39.4 percent in bonds as of the end of September, according to its quarterly report………………………………………..Full Article: Source

Portuguese property investment funds contract by 0.3pct in Q3

Posted on 30 November 2012 by Laxman  |  Email |Print

Portuguese property investment funds returned an annual total return of 0.6% in September, according to the APFIPP/ IPD Portugal quarterly property fund index, which tracks annual performance of Portuguese property investment funds on a quarterly basis.
Despite remaining in positive territory in the third quarter, the annual overall performance of the APFIPP/ IPD Index contracted by 0.3% from June 2012 and by 1.5% year on year………………………………………..Full Article: Source

Nordic fund index posts 1.9pct return in Q3: IPD

Posted on 29 November 2012 by Laxman  |  Email |Print

Nordic property fund returns improved slightly in the third quarter of 2012, delivering a 1.9% return compared to 1.7% in Q2 2012, according to the IPD Nordic Quarterly Property Fund Index.
Over the last 12 months the Index has returned 8.2%, although the continued depreciation of the euro continues to contribute positively to the overall return. Of the 10 participating funds, seven continued to produce positive returns for this quarter and nine recorded positive returns in the last 12 months………………………………………..Full Article: Source

Real estate funds rake in EUR 2.4bln of commitments in October

Posted on 16 November 2012 by Laxman  |  Email |Print

Non-listed real estate funds raised $3.1 bn (EUR 2.4 bn) in capital commitments globally during October, according to data published by Indirex, an online community for indirect real estate.
Globally, 17 funds confirmed new equity commitments. Debt was a prominent feature with several new funds being announced and the Pramerica US Real Estate Debt Fund reporting a close on $805 mln………………………………………..Full Article: Source

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CPPIB extends reach in Brazil real estate market

Posted on 15 November 2012 by Laxman  |  Email |Print

The Canada Pension Plan Investment Board is extending its involvement in the Brazilian real estate market with a $343-million (U.S.) investment in joint partnerships to acquire two portfolios in the fast-growing South American country.
In the first joint venture, CPPIB said it has signed an agreement with Global Logistic Properties (GLP and the Government of Singapore Investment Corp. (GIC) to acquire a portfolio of five development projects in Brazil. CPPIB will own a 39.6-per-cent interest while GLP and GIC will own 41.3 per cent and 19.1 per cent, respectively………………………………………..Full Article: Source

Global real estate funds see sharp rebound

Posted on 08 November 2012 by Laxman  |  Email |Print

Global real estate funds have been soaring. This year the funds have returned 25.6%, compared to 14.7% for the S&P 500 and 14.6% for real estate funds that focus on U.S. markets, according to Morningstar.
The gains represent a sharp rebound from last year, when the funds lost 10.1%. In 2011, investors fled many foreign real estate stocks because of fears that the crisis in Europe could lead to a global downturn. The losses were particularly severe in China, where the government took steps to cool overheated real estate markets………………………………………..Full Article: Source

Global property equity funds bounce back says S&P Capital research

Posted on 07 November 2012 by Laxman  |  Email |Print

Global property equity funds saw a sharp rebound in the first half of 2012, says S&P Capital IQ Fund Research in its latest sector trends paper. The peer-group median fund was up 12.6% in the first half of the year, in contrast to a 7.8% decline in 2011 and a fall of 10.5% in 2010.
Global real estate indices notched up positive returns in both the first and second quarters of the year, one of the few major sectors to do so. The resilience in the second quarter was principally propelled by developed Asia and especially China………………………………………..Full Article: Source

Investors confirm healthy appetite for European real estate debt funds

Posted on 06 November 2012 by Laxman  |  Email |Print

Investors have expressed increased interest in European real estate debt funds, according to INREV’s recent Debt Fund Survey, with a majority citing the risk/return characteristics of real estate debt funds as one of the main attractions.
The survey suggests that a lack of certainty around the lending capability of banks and a growing funding gap have created opportunities for other players to enter the commercial real estate lending market, fuelling investor interest in debt funds as a viable, addition to their existing real estate investment portfolios………………………………………..Full Article: Source

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