All news

Sustainable investing

PREI names David DeVos global sustainability officer

Wed, 25/08/2010 - 11:05
Prudential Real Estate Investors has named David DeVos as its global sustainability officer, responsible for overseeing the company’s strategy to reduce its worldwide environmental footprint. »

Simon Fairchild, managing director at IPD North America

US real estate emerges from two and a half year slump, IPD says

Wed, 25/08/2010 - 05:11
The range of returns to investors in US core open-ended funds remain above long-term norms, despite the recovery in market values over the second quarter, IPD research has shown. »

Joanne Douvas, co-founder and managing principal at Clerestory

Large cap opportunistic real estate funds throw in the towel

Tue, 24/08/2010 - 15:05
Investment managers seeking to raise over USD1.0bn in equity capital for large cap opportunistic real estate fund strategies virtually disappeared off the map in the first half of 2010. »

UK map

UK unlisted pooled property funds NAV reaches GBP30.5bn

Tue, 24/08/2010 - 14:26
The Association of Real Estate Funds’ Investment Quarterly for quarter two 2010 reveals a net asset value of GBP30.5bn for UK unlisted pooled property funds, up GBP9.5bn on this time last year.  »

Morgan Jones, joint chief executive of Hansteen

Hansteen to acquire portfolio of properties from Kilmartin joint ventures

Tue, 24/08/2010 - 13:17
Hansteen, an investor in UK and Continental European real estate, has exchanged contracts to acquire a multi-sector portfolio of 12 freehold and leasehold assets in Scotland for a total cost of GBP13.5m.  »

Gavel

ASIC obtains orders winding up Gold Coast investment companies

Tue, 24/08/2010 - 12:20
The Australian Securities and Investments Commission has obtained court orders winding up four companies which operated as part of the fundraising arm of a Gold Coast-based property development group, known as the IC Group. »

Ran Shtarkman, president and chief executive officer of Plaza Centers

Plaza Centers makes net profit of EUR25.8m

Tue, 24/08/2010 - 11:47
Plaza Centers, an emerging markets property developer, made a net profit of EUR25.8m for the six months ended 30 June 2010 compared with a loss of EUR28.4m the previous year. »

Dato’ Mohammed Azlan bin Hashim, chairman of Aseana

Aseana and Prudential in residential development in Ho Chi Minh City

Tue, 24/08/2010 - 11:16
Aseana Properties, a property developer investing in Malaysia and Vietnam, has entered into a conditional agreement to sell a 49 per cent stake in its wholly owned subsidiary, ASPL PV, to the Prupim Vietnam Property Fund managed by Prudential Property Investment Management (Singapore).  »

Sold sign

LaSalle sells Queensway House, Jersey for GBP19m

Tue, 24/08/2010 - 10:17
LaSalle Investment Management has sold Queensway House, Jersey for GBP18,978,000 to Redevco UK, a subsidiary of the Dutch property company. »

Shopping bags

TNP Strategic Retail Trust signs two tenants at Arizona shopping centre

Tue, 24/08/2010 - 09:23
TNP Strategic Retail Trust, a publicly registered non-traded Reit that invests in grocery and drug-store anchored retail properties in the western US, has signed lease agreements with two retailers at Northgate Plaza Shopping Center in Tucson, Arizona. »

Meeting

CBRE named sole real estate adviser for United Technologies portfolio

Tue, 24/08/2010 - 06:15
United Technologies has named CB Richard Ellis Group as its sole preferred provider for transaction management, brokerage and strategic real estate advisory services across its property portfolio in Europe, the Middle East, Africa and Russia. »

People shaking hands

Tanger names Thomas McDonough executive vice president of operations

Tue, 24/08/2010 - 05:45
Real estate investment trust Tanger Factory Outlet Centers has expanded its senior management team by appointing Thomas E. McDonough to the newly created position of executive vice president of operations. »

Tim Levy, chief executive of Future Capital Partners

Future Capital chief executive set for Northwest Passage expedition

Tue, 24/08/2010 - 05:06
Tim Levy, chief executive of GBP6bn alternative investment firm Future Capital Partners, is about to embark on a expedition led by Bear Grylls through the Northwest Passage. »

Scott Crowe, Cohen & Steers

Real estate stocks lead moves in underlying direct property market

Mon, 23/08/2010 - 15:12
The fact that real estate stocks lead moves in the underlying direct property market has been supported by recently updated research. »

Payroll

Reit compensation rises by three to 15 per cent in 2009

Mon, 23/08/2010 - 15:10
Total compensation levels within the real estate investment trust industry increased in 2009 by a median of three to 15 per cent, depending on employee level. »

Bag of money

Canyon-Johnson Urban Funds provide USD22.6m to condominium development

Mon, 23/08/2010 - 13:08
The Canyon-Johnson Urban Funds have provided a USD22.6m loan to OL Washington, an affiliate of New York-based Ornstein Leyton, to acquire existing construction and mezzanine loans and to complete construction of the Isabella, a 63-unit residential condominium project located in the Clinton Hill neighbourhood of Brooklyn. »

Andrew Cunningham, chief executive of Grainger

Grainger and Moorfield form equity release joint venture

Mon, 23/08/2010 - 11:04
Following its acquisition of Sovereign Reversions on 9 August, Grainger’s equity release subsidiary has entered into a 50:50 joint venture for Sovereign Reversions with MREF II Equity Release, a wholly owned subsidiary of Moorfield Real Estate Fund II.  »

Mortimer B. Zuckerman, chairman and chief executive officer of Boston Properties

Boston Properties to acquire 510 Madison Avenue in New York City

Mon, 23/08/2010 - 09:16
Boston Properties, a real estate investment trust, has entered into a purchase and sale agreement with an affiliate of Harry Macklowe to acquire fee title to 510 Madison Avenue in New York City. »

US flag

US commercial property prices down four per cent

Mon, 23/08/2010 - 05:09
The Moody’s/Real All Property Type Aggregate Index measured a 4.0 per cent price decline in June as commercial property markets remain choppy in the face of a sputtering economic recovery. »

Real estate fund

Pramerica assumes investment adviser mandate for UBS fund

Sun, 22/08/2010 - 15:07
Pramerica Real Estate Investors will become the investment adviser for the UBS Secure Income Property Fund, a role currently performed by UBS Global Asset Management (UK). »