Property Funds World Newsletter

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Enterprise (ETI.L), Britain's second-biggest pub company, said on Friday that with troubles continuing in the debt market it had put of a refinancing for the time being, while trading was being hit by the smoking ban and general consumer money worries. Hedgemedia's AltInvestment Global News Round-Up: Federal Reserve recruits BlackRock to manage Bear portfolio Fri, 28 Mar 2008, 07:24 HedgeWeek BlackRock has been tapped by the Federal Reserve Bank of New York to help manage the USD30bn portfolio of Bear Stearns, which is being acquired by JPMorgan Chase, now for USD1.2bn. This was a huge vote of confidence for chief executive Lawrence Fink, whose firm already manages USD1.4trn in assets. Australia's rated REITs maintain credit quality, despite market turmoil Fri, 28 Mar 2008, 07:08 Forbes/Thomson Financial Standard & Poor's Ratings Services said Australia's rated real estate investment trusts (REITs) have maintained stable credit quality in the past six months, even though the market turmoil has hurt some other players in the global property sector. S&P does not expect the majority of rated REITs in the country to encounter difficulties in raising bank funding over the next year but liquidity and the cost of refinancing will remain important considerations for the trusts preparing to refinance any forthcoming capital-markets maturities. Japan's REIT yield gap set to narrow Fri, 28 Mar 2008, 05:16 Property Report The average yield on real estate investment trusts is expected to come down, stoking expectations that the recent widening of the yield gap with Japanese government bonds will pause. The average REIT yield hit about 6 per cent in mid-month because of sell-offs by foreign investors whose risk tolerance fell amid the global credit crunch. Yields on 41 REITs listed on the Tokyo Stock Exchange currently average about 5 per cent. The Tokyo Stock Exchange REIT Index fell 33.64 to 1434.87 on Thursday, its first drop in seven business days. Developer plots GBP100m 'green' property fund Fri, 28 Mar 2008, 00:40 Regen.net Pioneering Manchester developer Carol Ainscow is setting up a property investment fund that will specialise in regeneration and green building projects. Ainscow is the founder of Artisan Property Group, which led the revival of city-centre living in Manchester and is now involved in regeneration projects across the North. Promotional feature - Thinking of investing in India? Do it through Mauritius Thu, 20 Mar 2008, 00:05 HedgeWeek Fund Managers, Investment Managers and Law Firms planning to invest in India or already investing on Indian Stock Markets, can route such investment through Mauritius to benefit from the tax unique advantages under the India-Mauritius Double Taxation Agreement (DTA). Ventas CEO sells 33,400 shares Thu, 27 Mar 2008, 19:07 Yahoo/AP The chairman, president and chief executive of real estate investment trust Ventas Inc exercised options for and then sold 33,400 shares of common stock under a prearranged trading plan, according to a Securities and Exchange Commission filing Wednesday. In a Form 4 filed with the SEC, Debra A. Cafaro reported she exercised the options for USD30.83 Monday and sold the shares the same day for USD48 to USD48.03 apiece. RREEF enters German retail market Thu, 27 Mar 2008, 17:58 IPE Real Estate A RREEF-dominated consortium is to acquire 164 German properties housing Karstadt department stores, via a 49% stake in Canadian fund manager Highstreet. The three-way deal involves the Deutsche Bank property subsidiary, Italian property investor Pirelli and the Borletti Group which will see RREEF own 40% of the shares covered in the agreement; the other two partners will own 20% each. Enterprise value of the deal is EUR4.56bn, with EUR3.5bn of debt secured by the properties. Pennsylvania State turns to RE fund of funds Thu, 27 Mar 2008, 17:56 IPE Real Estate Pennsylvania State Employees Retirement System has made a USD75m (EUR48.7m) commitment into the fund of funds offering known as Oculus Small Cap real estate fund I. Overall, the size of the Pennsylvania pension fund investment staff has changed little over the past couple of years but the same cannot be said for the number of commingled funds in the market, so the fund felt it was necessary to look to consider investment in the fund of funds market, according to Rob Kochis, principal with The Townsend Group - the real estate consultant to Pennsylvania State. Ohio Public Employees Retirement System is looking at creating an international REITs investment strategy. Thu, 27 Mar 2008, 17:52 IPE Real Estate Ohio Public Employees Retirement System is looking at creating an international REITs investment strategy. The pension fund had this as an agenda item up for discussion at its board meeting on March 18 and 19, so while officials have yet to agree an allocation to international REITs this is likely to be decided in the near future. Emmett REIT buys Arden portfolio for USD610m Thu, 27 Mar 2008, 17:10 Globe Street Douglas Emmett Inc has acquired 1.4 million sf of office in six class A buildings in West Los Angeles and the San Fernando Valley from West Los Angeles-based Arden Realty Inc. for USD610 million and plans to invest significantly in capital improvements in a number of the buildings. The portfolio is 88.7% leased, with buildings that offer "repositioning opportunities at a real discount to their full potential," according to a statement by Jordan Kaplan, president and CEO of locally based Emmett. Promotional feature - Attend the world's largest global alternatives event With over 600 end investors, asset allocators and asset managers guaranteed Thu, 27 Mar 2008, 16:23 HedgeWeek Now in its 14th successful year, the flagship GAIM International is undoubtedly the world's biggest and most senior gathering of alternative investment players - no fewer than 1,200 delegates attended the 2007 event for an incredible week of targeted direct networking, new deals, fresh ideas, and hot-of-the-press learning: hard benefits which last all year. LaSalle relocates Todd Canter to its securities division, Asia Pacific Thu, 27 Mar 2008, 15:33 HedgeWeek LaSalle Investment Management is pleased to announce Todd Canter has relocated to Hong Kong to become chief executive for LaSalle Investment Management (Securities) Asia Pacific, the company's securities investment management division for pension funds, institutional and retail investors around the globe. Aberdeen Property Investors predicts improvement in European property 2008 Thu, 27 Mar 2008, 15:29 HedgeWeek Aberdeen Property Investors is predicting returns of 1.9 per cent in European property in 2008 as a result of declining capital values. Total 'All Property' returns were already down in 2007, with Aberdeen estimating returns of 3.7 per cent for the year compared with the record 13.3 per cent achieved the previous year. Alpine Mutual Funds hires top property analyst Stephen Kim Thu, 27 Mar 2008, 15:28 HedgeWeek Alpine Woods Capital Investors, manager of the Alpine family of mutual funds is pleased to announce the addition of Stephen S. Kim as senior real estate analyst. He was most recently a managing director at Citi Investment Research covering the homebuilders and building products sector, which he has followed for 17 years. Singapore's K-REIT Asia to raise SGD551.7m rights issue Thu, 27 Mar 2008, 14:30 Forbes/Thomson Financial Office landlord K-REIT Asia said Friday it will raise gross proceeds of 551.7 million Singapore dollars by selling 397 million new shares at 1.39 Singapore dollars, an 8.3 per cent discount to its current market price, in an 8-for-5 rights issue. The proceeds will be used to repay some of the 942 million dollar bridging loan provided by parent K-REIT's controlling shareholder, Keppel Corp, in December, it said. Germany's Hypo says turmoil threatens profit goal Thu, 27 Mar 2008, 13:03 Reuters Germany's Hypo Real Estate (HRXG.DE) warned investors on Thursday it faced writedowns and could miss its profit target in the wake of market turmoil, but investors took heart that the news was not worse. Hypo, which has been struggling to re-establish credibility with shareholders after springing unexpected subprime writedowns early this year, gave fresh details of its EUR5 billion plus exposure to structured debt products. PRUPIM adds prime international stock with Berlin purchase Thu, 27 Mar 2008, 08:47 Europe Real Estate PRUPIM announces that it has completed the purchase of the Kaiser Tengelmann Warehouse, located Ringstrasse in Berlin, Germany, for EUR57 million on behalf of the M&G European Property Fund. Built in 2004, the single story, high-specification, Grade-A asset comprises over 35,000 m² of logistics space with an additional 3,900 m² of office capacity. The warehouse is located in an extremely desirable central location, 20 minutes from the airport and minutes from Berlin's main communications infrastructure, with access to most of Western Europe's key cities by train, motorway and air links. click here to access the full jobs board Jobs Senior Analyst/Investment Strategist, United Kingdom A rare opportunity to join an entrepreneurial firm at the early stages of development. We are lookin... Summit Business Analyst, United Kingdom Business Analyst – Fund Services – Business Analyst My client is a leading fund managem... Hedge Fund - Middle Office, United Kingdom A rare opportunity has arisen to work for a well-established asset management company within its rec... Front Office Analyst, United Kingdom A leading Fund Manager is looking for a highly motivated and diligent ACA to move directly into the ... Investment Analyst, United Kingdom A leading Asset Manager is looking for an exceptional ACA or CFA to join its Front Office research t... Hedge Fund Analyst, United Kingdom Robert Half International is currently recruiting 2 analysts for a leading global asset manager who ... More jobs Up and coming events The Wall Street Green Trading Summit VII Wed, 02 Apr 2008 2 - 3 April 2008 - New York The 7th Annual Wall Street Green Trading Summit is the seminal New York City environmental financial market event created by Peter C. Fusaro. Working with Hedge Connection for the third year, this event does it all in 2 days covering carbon emissions trading and finance, renewable energy markets, cleantech VC, green hedge funds and energy efficiency financial markets. Have you been to this event before? Click here to rate it. IMN - The Summit on Securitisation in Central & Eastern Europe Mon, 07 Apr 2008 IMN's Inaugural Summit on Central and Eastern European Securitisation was the largest conference of its kind to take place in the CEE/CIS region. With approximately 200 attendees, including more than 100 investors and originators, the one and a half day event served as a catalyst for pairing local issuers with foreign investors and financial service providers. Have you been to this event before? Click here to rate it. The Lhabitant Hedge Fund seminar Mon, 07 Apr 2008 Designed and delivered by one of the most respected practitioners and academics in the area, this intensive seminar offers insight into state-of-the-art practices for implementing hedge fund programmes, controlling risk, and measuring and reporting performance and risks. Have you been to this event before? Click here to rate it. China Hedge Funds 2008 Tue, 22 Apr 2008 22 April 2008 - Geneva Hedge funds have taken the Far East by storm in the recent years, and nowhere as noticeable as in China, the world's fastest-growing economy. To date Hedge Funds are a significant part of Asian markets. In recent years they grew from less than 50 in 1995 to over 600 in 2008. Our China Hedge Funds Conference 2008 will offer a unique opportunity for those interested in the Chinese funds industry to establish invaluable contacts. Have you been to this event before? Click here to rate it. Alpha Max 2008 Wed, 07 May 2008 7 - 9 May 2008 Institutional investors are finding it increasingly difficult to reach their long-term liability-driven investment goals due in large part to less-than-stellar returns from traditional investments. It has become necessary for them to seek other sources of alpha in order to enhance returns and meet their obligations. Have you been to this event before? Click here to rate it. 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Newsletter content - Issue 317

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