All Americas articles – Page 153
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US and European investors reveal different gearing interests
GLOBAL – Appetite for gearing levels in real estate funds has diverged between European institutional investors and those based in the US, according to a multi-manager.
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Rothschild Realty sees fresh prospects for US housing
UNITED STATES - Rothschild Realty Managers has made a $100m (€74.9m) equity investment with Summit Housing Partners based in Montgomery, Alabama, on the back of renewed confidence in the housing market.
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Chicago Policemen eye non-core opportunities
UNITED STATES – The Policemen’s Annuity and Benefit Fund of Chicago has issued a Request for Proposal for non-core real estate managers.
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Santa Barbara County opens separate account search
UNITED STATES - Santa Barbara County Employees Retirement System has approved a Request for Information to hire a discretionary separate account real estate manager.
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Illinois State to boost real estate holdings by $300m
UNITED STATES - Illinois State Board of Investment has approved plans to invest $300m (€223.1m) in real estate in 2010.
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Pennsylvania Public School increases allocation to real estate
UNITED STATES - Pennsylvania Public School Employees’ Retirement System has decided to increase its targeted allocation for real estate from 8% to 10.5%. Most of the increase will be funded by the elimination of the pension fund’s 1.5% allocation to public REITs. Pennsylvania Public School ...
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BRIC-built recovery expected - JLL
GLOBAL – The BRIC countries will lead the global real estate market recovery as their economic expansion boosts occupier demand across all sectors and cross-border investment returns, according to Jones Lang LaSalle (JLL).
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CalPERS to invest $1.3bn in infrastructure in 2010
UNITED STATES - California Public Employees Retirement System wants to invest as much as $1.3bn (€961.5bn) in infrastructure during 2010.
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Texas Teachers seeks growth in agriculture
UNITED STATES - Teacher Retirement System has made its first ever investment in agriculture with a $250m (€145.9m) commitment into the AG Real Value Fund, managed by Teay’s River Investments.
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Arizona Public Safety takes opportunistic strategy in real estate
UNITED STATES - Arizona Public Safety Retirement System intends to make at least two more real estate commitments to commingled funds by investing through a US opportunistic strategy in 2010.
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German pension funds find a way to tap core US real estate
US/GERMANY – Invesco Real Estate has raised $120m (€87m) from four German institutional investors to invest in core US real estate.
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The fundamental rules apply
Investors have been caught up in the momentum during the good times, but going back to fundamentals is a lesson to be learned for a tougher climate. Greg MacKinnon reports
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Ohio PERS to invest $1.6bn in real estate
UNITED STATES - Ohio Public Employees Retirement System will allocate $1.6bn (€1.2bn) in real estate this year and will be targeting stable assets as well as motivated sellers in particular.
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NYSTRS signs CMBS managers to new contracts
UNITED STATES – The New York State Teachers Retirement System has signed new contracts with BlackRock Financial Management and ING Clarion Capital to manage commercial mortgage_backed securities (CMBS) investments.
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A slow-burn recovery
The rate of rebound in the US property market is likely to vary by sector and location, depending on its susceptibility to employment rates, consumer spending, and industrial recovery. Andrew Warren explains
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Selective focus
Investors’ plans for real estate investment in 2010 show a new focus on a few select markets. James Fetgatter charts investor intentions
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Washington State creates its own real estate benchmark
UNITED STATES - Washington State Investment Board has dropped the NCREIF Property Index as the return benchmark it applied to its real estate portfolio.
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Indiana PERF sees potential in real estate debt
UNITED STATES - Indiana Public Employees’ Retirement Fund has approved two investments in real estate debt totalling $230m (€169.9m).
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CalSTRS loses $83m as Fairfield moves to Chapter 11
UNITED STATES- California State Teachers Retirement System (CalSTRS) has taken an $82.9m (€61.2m) hit in its real estate portfolio as one of its investments, Fairfield Residential LLC, has filed for Chapter 11 bankruptcy protection.
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Kansas PERS turns attention to core real estate
UNITED STATES - Kansas Public Employees Retirement System has made a $100m (€73.5m) allocation to the LaSalle core commingled US Property Fund.
