Institutional Real Estate Europe
May 1, 2012: Vol. 6, Number 5Buy For $150.00 Add to Cart
Neither Here nor There: Real Estate Investment Could Fall Victim to Changes in Pension Arrangements and Low Plan Take-up
You know how it is. You’re coming up to the big 6-0 — and if you’re not, you will be — and you start thinking about that milestone called the retirement age that you’re hoping to come across on your journey through life at some point in the next decade. For many people, that milestone is still at a predetermined point; unlike death, the final destination after retirement, you know when retirement is coming. For some lucky others, retirement is an achievement that can be attained at a time of their choosing — early, on time or late.
The Wet Stuff: Water Is All Too Easily Taken for Granted, but There Is a Major Risk that There Soon Won't Be Enough of It
There is increasing “noise” around the impending water crisis and the greater degree of water scarcity. In February, parts of England were put on drought alert, reflecting reduced levels of rainfall over the past two winters, while other parts of England have more than sufficient supplies. In March, the European Environment Agency identified that a lack of water resources could threaten Europe’s productivity, and that in some river basins water scarcity continues to worsen. Water scarcity is an issue; it is a local problem but has global implications for society and business.
Word Cloud or Fog of Words?: Managers Need to Positively Differentiate Themselves from the Competition
Over the quiet holiday weeks, I made an effort to clean up my messy office. I had piles on piles of presentation pitch books that friends and even strangers had sent me asking that I review them and provide comments, suggestions, criticisms, etc. As I remember fondly the help that “veterans” gave me when I started out in the investment management business, I try my best to respond to such requests. In addition, I often find them quite interesting to read as it gives me a window on who is out there and what they are doing.
Biding Time: It
Conventional wisdom says that, for all intents and purposes, European investors aren’t investing. According to a recently completed survey, it isn’t for lack of desire. On average, European investment schemes of all ilks have a 9.8 percent target for real estate investment, but only have 8.8 percent actually allocated. The investors in the survey would need to invest an additional €10 billion to reach their target allocations, which they’d like to do, if only they could find deals.
Every Little Bit Counts: How Investors Should Think About Reducing Energy Consumption in their Multi-Tenant Office Assets
Buildings consume a large amount of energy, and until recently real estate energy bills were viewed as an uncontrollable expense. New software and technology are changing this. Investors now realise that energy expenses can be reduced through any of five paths: capital investment (retrofits), utility incentives, open-market procurement, occupant behaviour change and operational improvement.
Toward Consensus: Agreement On Measurement of Sustainability in Real Estate Will Bring Benefits for Both Investors and Fund Managers
The phrase “what can be measured can be managed” is one of the great clichés of management and business. And, like many enduring clichés, it has remained in common usage because there is real meaning and truth behind it. While you do not need to buy every syllable of this philosophy, it is important to recognise that it can be beneficial for behaviour, and investment decisions, to be evidence-based.
Amundi Buys Stake in Canary Wharf Asset
France-based Amundi Real Estate, which was formed from the merger of the real estate investment management operations of Crédit Agricole and Société Générale, has acquired a stake in 5 Canada Square, a 50,000-square-metre building in London’s Canary Wharf district.
AXA Real Estate Holds First Close of Caesar Fund
AXA Real Estate Investment Managers (REIM) has launched the Caesar Fund, a blind pool fund that will invest in core office properties across Europe.
- BPT Sells Estonian Retail Asset
- Deka Sells French Office Building
Evans Randall Buys in London's Docklands
Evans Randall has acquired a data centre in London for £27 million (€32.4 million) in a joint venture with private investor clients from Saudi Arabia.
- Henderson Invests in Austria and Netherlands
Henderson Proposes Birmingham Redevelopment
Henderson Global Investors has submitted a planning application to redevelop 1 Hagley Road, a 19-storey, 13,000-square-metre office tower in Birmingham.
Hines Begins Construction on Krakow Apartments
Hines has begun construction of a 400-unit residential development in the centre of Kraków.
Imocominvest Buys French Shopping Centre
Imocominvest has acquired a 7,100-square-metre shopping centre in Saint-Omer, France, for €10 million.
Investors Target German Retail Portfolios
The retail sector in Germany has recently attracted interest from investment managers such as Corestate Group and MGPA, and Savills suggests that the sector has investment potential due to its low shopping centre density compared with similar markets.
Land Securities to Sell Liverpool Centre
UK-REIT Land Securities has agreed to sell the 38,000-square-metre St Johns Shopping Centre in Liverpool for £76.5 million.
London Attracts Foreign Property Investors
Foreign interest has been keeping the central London office property market hot — and that interest is expected to stay keen in 2012.
Palmer Acquires Dutch Fund Manager
Palmer Capital has taken control of 100 percent of Middle Europe Investments (MEI), a Dutch fund manager with €232 million of assets under management in central and eastern Europe.
Pramerica Ground Lease Fund Raises £44 Million
Pramerica Real Estate Investors has raised an additional £44 million (€53 million) in new subscriptions to the Pramerica UK Ground Lease Fund since November 2011.
- Quintain Buys Grafton Advisors
Rockspring Acquires Polish Shopping Centre
Schroders and Local Shopping REIT Launch Retail Fund
Local Shopping REIT Plc, a UK-REIT, is launching Local Retail Fund, a £60 million (€72 million) unlisted fund to invest in convenience retail stores.
Student Housing Is Under Construction in London
London student housing is getting some new development. The Carlyle Group has acquired three development sites in London for £46 million (€55 million).
- Terrace Hill Sells Residential Portfolio
Union Investment Buys Paris Hotel Development
Union Investment Real Estate, on behalf of the UniImmo: Deutschland fund, has acquired a four-star hotel under construction in Paris.