Robin Marriott

The Expo Real property show in Germany has been rocked this afternoon by news that Georg Funke, chief executive officer of Hypo Real Estate, has been forced to resign with immediate effect.

The German real estate and infrastructure lender announced a multi-billion euro credit facility today to shield it from disaster. It was enough, Hypo said, to cover its funding needs “well into the future”. Shares crashed 70 percent on the news.

A survey of UK pension fund trustees has found that more than a quarter are planning to increase allocations to commercial real estate, while around half will maintain their exposure over the medium term.

A survey has found that 25 percent of European investors are considering cutting their exposure to real estate funds in the short-term, yet investors are also planning to increase their exposure to opportunity funds.

Indian real estate investment firm Trikona Capital is selling a third portfolio to a German fund manager with $21 billion under management.

Frank Khoo has joined French insurer Axa as the firm bids to become a major player in Asian real estate. Khoo, formerly with Pacific Star Fund Management, will be based in Axa's new Singaporean office.

The German insurance firm, which is the process of building a global property investment business, has acquired a stake in a New York office on the Avenue of the Americas.

Middle Eastern sovereign wealth investors have entered British football with The Abu Dhabi United Group for Development and Investment, headed by ‘the Donald Trump of Abu Dhabi’, agreeing to buy Manchester City FC.

Goldman Sachs' Whitehall funds is to reduce the maintenance budget for a newly acquired portfolio of German residential properties, according to a report.

The private equity fund, listed on the London Stock Exchange, has invested half of the $400m it raised in its IPO last November.