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Capital constraints and the balance of power
As the credit crunch crisis deepens, the challenge to raise real estate capital is even greater. In the latest edition of IPE Real Estate, we take a look at the impact this is having on pension funds and the bargaining opportunities they may present, as well as country profiles on the Middle East, North and South Africa. Read the latest edition of the magazine to find out more...

 

Latest News

 

Negative rental growth now global
GLOBAL – Rental growth has turned negative on a global scale and the downturn in emerging markets is accelerating, the Royal Institute of Chartered Surveyors (RICS) finds in its latest quarterly...

UK sets new record for fall in capital values
UK – UK commercial property capital values fell by record levels last month, according to Investment Property Databank (IPD).

PME looks for global opportunities
NETHERLANDS – Pensioenfonds van de Metalektro (PME) is diversifying its real estate exposure by investing opportunistically on a global basis.

UK will start to recover in 2010 – Schroders
UK – The UK commercial real estate market will not stabilise until the latter part of 2009 but should begin to recover in 2010 according to Schroder Property.

Europe to produce ‘acceptable’ returns in the medium-term
EUROPE – Investors can generate “acceptable or attractive” returns from most of the European markets over the medium-term, according to a report by Invesco Real Estate.

Orion ready for European bargains
Europe – Orion Capital Managers has raised €900m of capital for its latest opportunistic property fund which will aim to buy bargain real estate across Europe.

CalPERS’s housing values plummet
UNITED STATES – The California Public Employees’ Retirement System (CalPERS) announced yesterday a 35% decline in the market value of its residential real estate portfolio.

Prologis loses chief and halts new developments
GLOBAL – ProLogis, the world’s largest logistics developer, has announced the resignation of chief executive officer Jeffrey Schwartz at a time when the company is halting further developments.

CalSTRS forced to expand allocation limits
US – The California State Teachers Retirement System (CalSTRS) has temporarily increased its real estate allocation range to prevent the need to sell assets during a downturn.

Sustainability should come first – Watson Wyatt
GLOBAL - Investors must place sustainability at the top of their agenda, because it is likely to have a significant impact on commercial real estate and even improve returns, according to Watson...

German funds hit hardest by institutional outflows
GERMANY – Recent redemptions from German open-ended funds (GOEFs) were “mainly driven by institutional investors rather than retail investors,” according to a senior analyst for CB Richard Ellis.

Land Securities abandons demerger plans
UK – Land Securities announced yesterday in its half-yearly annual results that “adverse market conditions” have forced the firm to abandon its demerger plans in order to protect shareholders’...

LaSalle launches UK opportunity fund
UK – LaSalle Investment Management is raising a £400m (€487m) opportunity fund to take advantage of declining property values and potential distress in the UK real estate market.

Foreign investors get smaller piece of the pie
CHINA – Domestic investors took an increasing larger share of the real estate investment market in China in the first half of the year, a report by property consultants DTZ shows.

NYSTRS invests in warehousing and debt
UNITED STATES – New York State Teachers’ Retirement System (NYSTRS) has added to its real estate portfolio by investing in an industrial commingled fund and by making several investments in debt real ...

Opportunistic funds continue to attract capital – Clerestory
GLOBAL – Capital continues to be raised globally for opportunistic real estate funds, albeit at a slower pace, despite the credit crunch and falling economic growth, according to research from...

CEE real estate growth is kicked into the tall grass
EUROPE – Real estate markets in Central and Eastern European (CEE) countries will not escape the effects of the financial crisis over the next couple of years and are potentially risky choices for...

Axa REIM shifts into distressed debt
EUROPE – Axa REIM, the real estate arm of Axa Investment Managers Group, is holding back from investing in European markets because it predicts property prices will drop even further and will...

Crisis of confidence for UK property
UK – Confidence has collapsed across the UK real estate sector according to Smith & Williamson’s latest annual survey.

Sustainable leases get the green light
UK – The first clear framework to help landlords and occupiers increase the environmental performance of existing buildings has been published, claims the UK’s Better Building Partnership (BBP).