Aviva opens gates
Aviva has lifted the deferral of redemptions from its £1.5bn Pensions Property Fund after selling assets and boosting rents. Investors had been gated for 12 months as the fund struggled with liquidity problems in 2012. It has returned 4.9% so far this year.
?ICG-Longbow takes three
ICG-Longbow has closed three new loans, taking its total investments to date to £87.3m. It lent Raees International £13.3m after making a £8.6m and £1.3m pair of senior loans to Halcyon Nominee and Cararra Nominee.
?Gadsden planted at Orchard
Orchard Street Investment Management has appointed Philip Gadsden as managing partner eight months after he joined the firm. The former Invista Real Estate Investment Management executive director takes up the role, working alongside chairman Chris Bartram, from 1 January.
?Hibernia enters bourses
Ireland’s newest REIT, Hibernia, has started trading on the London and Dublin stock exchanges. It has also emerged as a bidder for Dublin office complex Central Park, offered for €250m (£210m). Jones Lang LaSalle and Savills are jointly advising vendor Nama.
?NAV lift for Terrace Hill
Terrace Hill Group boosted its NAV by 1.7% in the year to September by selling the majority of its residential portfolio. This helped to bring down debt by 62.9% to £17.5m. It posted a pretax profit of £6.2m, up from £1.8m in 2012.
Bridget.O’Connell@estatesgazette.com
