All Residential Coverage – Page 145
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Texas Teachers-backed apartment fund makes first investments in two years
GLOBAL – The Camden Multifamily Value Add fund, 80% owned by the Teacher Retirement System of Texas, has closed on its first two apartment deals in more than two years.
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Texas Employees commits $60m to value-added fund
GLOBAL – The Employees Retirement System of Texas has made a $60m (€43m) commitment to the Madison International Real Estate Liquidity Fund IV.
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Irish commercial real estate continues to slide, IPD says
IRELAND – The commercial real estate market in Ireland continued to see declines in capital values in the third quarter, meaning the market has been falling for more than three years, according to Investment Property Databank (IPD).
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Rockspring enters student housing through counter-cyclical strategy
UK – Rockspring Property Investment Managers has entered the student accommodation market for the first time with the acquisition of 123 Fountainbridge, Edinburgh, in a joint venture with Mansion Group.
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Pension funds targeting US multi-family housing
GLOBAL – Multi-family housing has been identified as the favoured sector for investment in the US by a number of European pension funds, a position backed up by new research from Pramerica Real Estate Investors.
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Scottish minister calls on pension funds to invest in affordable housing
GLOBAL – Pension funds have been called upon to invest as much as £1bn (€1.1bn) into affordable housing in Scotland in an effort to meet the growing demand in the sector.
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GID takes over CalPERS apartment portfolio from BlackRock
GLOBAL – GID Investment Advisers has taken over the management of a core multi-family residential portfolio from BlackRock Realty Advisors on behalf of the $212bn (€152bn) California Public Employees' Retirement System (CalPERS).
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Oregon Retirement Fund considers larger commitments, club funds
GLOBAL – The Oregon Public Employees Retirement Fund is exploring the possibility of making larger investments into either commingled funds or separate accounts.
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French commercial real estate returns to positive territory, says IPD
FRANCE – Commercial real estate in France has emerged from a two-year slump to record a six-month 1.6% capital appreciation, according to Investment Property Databank (IPD).
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CalPERS continues Brazilian joint venture with Hines
GLOBAL – The $210bn (€158bn) California Public Employees Retirement System (CalPERS) has given its latest endorsement to Hines' Brazilian real estate expertise by committing to the third in a series of joint ventures in the South American market.
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Newham Pension Fund backs co-investment housing fund
UK – The London Borough of Newham Pension Fund is to invest in a new residential real estate fund run by Mill Group.
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Denmark's FSP, Lærernes team up on residential development
DENMARK – Danish pension funds FSP Pension and Lærernes Pension have teamed up to invest nearly DKK400m (€53.7m) in a new residential property development in Denmark.
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UK roundup: Greater Manchester Pension Fund, GVA Grimley, British Property Federation, Oaktree
UK – The UK government has rejected proposals to help attract institutional investment in residential property despite growing interest in the sector.
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Invesco fund shows German appetite for UK property remains strong
EUROPE – Invesco Real Estate has raised €75m from four German institutional investors, enabling it to make a first closing for its latest UK real estate fund.
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AFIAA shuns London for Scottish investment
UK – AFIAA, the global property investor owned by 18 Swiss pension funds, has made its second acquisition in the UK, having bought a new mixed-use development in Edinburgh.
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Tesco moves to release value from property portfolio
LONDON – Tesco has agreed a second sale and leaseback of properties with the Tesco Pension Fund Trustees in an effort to release value from its property portfolio.
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Mass PRIM issues request for core separate account manager
GLOBAL – Massachusetts Pension Reserves Investment Management (Mass PRIM) has issued a Request for Proposal for a core, separate account real estate manager.
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APG backs Pramerica debt strategy
EUROPE – APG Asset Management, the wholly-owned investment manager of the ABP pension fund, is one of a number of investors to have invested in a European real estate debt strategy run by Pramerica Real Estate Investors.
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Progress to reinvest direct capital in Dutch ING REIM funds
NETHERLANDS – Progress, the Unilever pension fund, has decided to invest in two Dutch real estate funds managed by ING Real Estate Investment Management following the disposal of its directly held domestic portfolio.
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Finland's Veritas offloads residential portfolio to Germany's Patrizia
EUROPE – Finnish pensions insurer Veritas has sold a 113-asset portfolio to German fund manager Patrizia in the first residential deal involving an investor based outside the region.
