Institutional Real Estate Europe

May 1, 2011: Vol. 5, Number 5

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From the Current Issue

Europe

Legal & General Fund Raises Additional Equity

Legal & General Property’s LPI Income Property Fund has now raised total commitments of nearly £180 million (€204 million), following a closing of an additional £117 million (€133 million) in equity from three corporate pension schemes, including the Michelin Pension Plan.

Europe

Rockspring Makes UK Acquisitions

Rockspring Property Investment Managers LLP has acquired a five-property portfolio of UK office buildings for £47.78 million (€54.1 million) on behalf of the UK Value Fund.

Europe

UBS Buys London Office Property

UBS Global Asset Management, on behalf of its UBS South East Recovery Fund, has acquired the freehold interest in Atlas House in London for £19.5 million.

Europe

A Long Way to Go: Russia May Seem Far Away Both Geographically and as a Developed Country, But It Is Ready to Play the Game

The recent victory for Russia in the bid for the 2018 FIFA World Cup certainly came as a surprise for some of the other bidding countries and to many experts across the globe. Russia is a country that spans nine time zones, has a population of 142 million and is often in the media for very much the wrong reasons. The opportunity to host such a globally important and media-saturated event as the World Cup certainly presents Russia with a chance to present a more positive face. There is, though, much to do in order for the country to be ready.

Europe

Brazil Turning Heads: Investors Are Taking a Long Look and Liking What They See

It seems as if Brazil is on nearly everyone’s radar screen these days. Brazil benefits from a large and expanding economy, a growing urban population and youthful demographic profile, expanding real estate market capitalisation, lessened levels of systemic market risk, and proven political and financial stability. The aim of this article is to analyse the market and to discuss investment opportunities and risk as well as investment strategies for each of the four main property types.

Europe

DIC Purchases German Retail Assets

DIC Asset AG has acquired two retail properties in Germany that are let to Galeria Kaufhof from a joint venture controlled by affiliates of AREA Property Partners and Rida Development Corp for €108 million.

Europe

Hannover Leasing Acquires Office Project in Rotterdam

Hannover Leasing has acquired Blaak8, a 13,500-square-metre office scheme in Rotterdam. The property serves as the new headquarters of Stedin, a Dutch energy service provider, which has let the building for a term of more than 10 years.

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