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LOS ANGELES-CB Richard Ellis Investors will unveil new research today that shows a growing appetite among US buyers for European properties, including $500 million in commitments by US pension plans to invest in European real estate. Mike McMenomy, global head of investor services for CBRE Investors, tells GlobeSt.com that the $500 million is part of $900 million in commitments that the independently operated investment management arm of CB Richard Ellis has generated among US and international investors.”We have been busy raising two funds for UK and Pan-European investments this year,” McMenomy says, describing the Pan-European market as “primarily France, Italy and Germany.” In addition to the $500 million in commitments from US pension funds, the other $400 million represents commitments from various international institutional investors.CBRE Investors is scheduled to unveil its research on US interest in European properties as part of a presentation on global capital flows at its annual investor meeting, which it is hosting in New York City today. McMenomy points out that while discussions of international investment often focus on the capital coming into the US from offshore institutions. “Our sense of the market is that it is also quite active going in the other direction,” he says.McMenomy tells GlobeSt.com that European real estate represents “a compelling opportunity for US-based investors seeking diversification.” CBRE Investors has been active in the UK and Pan-European markets since 1998, he says, but the new research and CBRE Investors’ efforts to raise investment funds show that interest in these markets is rising. McMenomy says European real estate represents “a compelling opportunity for US-based investors seeking diversification.” The CBRE Investors research also shows that US investors like the potential for good returns in Europe, where opportunities exist due to market inefficiencies, strict land use regulations, the shortage of developable land, the increasing cross-border flows of capital and the convenience of the Euro as a single currency.Among the research to be unveiled today will be “European Property Investment Outlook 2005,” which outlines opportunities in Europe, analyzes various property types, compares and contrasts US and European markets and gauges investor interest in European properties. The report describes the European investment market as “characterized by many of the same standards and customs as those in the United States,” but it also cites “key differences that can make effective strategies–especially value-added approaches different from ones that work in other regions.” In addition to delving into the various property types, the report also provides detailed analyses of property markets on a country-by-country basis as well as discussions of the economic factors driving investment in each of the countries.

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