CREFC mourns Caroline Philips
CREFC Europe has announced the death of former chairman Caroline Philips, from cancer. Philips, who was head of real estate capital markets at Wells Fargo and head of structured debt at Europhypo for many years, died on 16 August.
Hansteen readies £8.7m LTIPs
Hansteen has set aside £8.7m for long-term incentive plan share allocations to its co-chief executives Ian Watson and Morgan Jones as the industrial investor posted a 27% return for the first six months of 2014. The company also acquired a further £103.7m stake in the Ashtenne Industrial Fund, taking its holding to 76.5%. Hansteen’s dividend will rise by 5.1% to 2.1p per share.
UBS office vehicle extended
UBS Global Asset Management has extended the life of its UBS Central London Office Value Added Fund following an extraordinary general meeting. The meeting was called at the company’s Jersey offices and the motion passed to extend the fund by a further year. The UBS CLOVA fund will now end on 31 December 2016.
LCP launches listed PRS fund
London Central Portfolios has launched its latest fund with a seed portfolio of 50 properties targeting the private rented sector. Known as London Central Apartments III, the sharia-compliant fund will be Guernsey-listed, offering investors shares in the PRS portfolio. LCP will conduct a £100m equity raise before expanding through acquisitions.
