Managers

The latest survey by INREV reveals that available capital for non-listed real estate funds in Europe is waning. Despite a gloomy big picture, largely dominated by evaporating debt sources, equity availability should grow.

Amid the court approving the banking giant’s bankruptcy exit plan, Lehman is challenging the validity of Equity Residential’s agreement to buy 26.5 percent of Archstone.

The property arm of insurer Legal & General has underlined the growing importance of Defined Contribution pension plans by saying net inflows in the third quarter of the year from this type of scheme into its balanced property funds have for the first time become greater than those from Defined Benefit plans.

The listed Australian property fund manager says it has doubled the A$100m of equity commitments it secured by August this year by gaining investment from domestic and international investors.

DTZ has finally been sold to Australian engineering, construction and maintenance company UGL Limited, bringing its protracted sale saga to a close. The combined company has 24,000 staff, 225 offices across 45 countries and generates an annual revenue of about £1.2bn making it one of the largest property services groups in the world.

The $80 billion state investment board has invested in BREP VII, as well as hiring Heitman to manage a $20 million separate account.

The Australia-focused real estate investment manager has invested enough capital from its debut opportunity fund to be able to bring its second fund to the market.

The Phoenix-based private real estate company is raising its first investment fund to acquire retail properties in the West and Southwest regions of the US.

The Washington DC-based private equity giant has turned away approximately $500m of potential commitments as it sees its real estate opportunity fund, Carlyle Realty Partners VI, become oversubscribed.

The fate of Morgan Stanley Real Estate Investing’s latest global opportunity fund lies in an investor vote to extend its investment period scheduled to happen this month.