All Americas articles – Page 156
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News
NYSTRS ends REIT relationship with Citigroup
UNITED STATES - New York State Teachers Retirement System has ended an arrangement with Citigroup Alternative Investments as the REIT manager is pulling out of this space.
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Duncan heads First Industrial
US – First Industrial Realty Trust, the North American Real Estate Investment Trust (REIT), has appointed Bruce Duncan as president and chief executive officer.
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Cohen & Steers predicts “outstanding” returns…in time
GLOBAL – Cohen & Steers, the US investment firm specialising in real estate, remains confident that the majority of global listed real estate companies will weather the economic crisis despite the poor lending environment, according to its latest Review and outlook for the international real estate markets.
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Los Angeles City alters hotel booking
UNITED STATES - Los Angeles City Employees’ Retirement System has asked Integrated Capital to change the agreement it made concerning the Capital Hospitality fund so it can go ahead with investment plans.
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Arkansas searches property management
US – The $8.4bn Arkansas Teacher Retirement System (ATRS) it is looking to appoint a real estate manager to manage a $140m (€107m) property portfolio.
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Economic freeze hits Alaska’s investments
US – The Alaska Permanent Fund Corporation’s (APFC’s) real estate portfolio performed better than other assets but has still contributed to the fund’s $4.2bn (€3.2bn) drop in value in the second quarter of fiscal year 2009.
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AIG puts real estate house on the market
US - AIG Global Real Estate has today announced the $12.4bn (€9.4bn) fund management business has been put up for sale, as part of the American International Group’s (AIG’s) divestment programme set out at the end of last year.
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Magazine
Playing it safe
As the downturn bites the latest Emerging Trends survey shows increased interest in apartments and industrials as well as a move up the popularity stakes for Denver, Houston and Boston. Robert Ruggles and Chuck DiRocco report
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Magazine
Low light in the sunshine state
Never mind California dreamin’, the harsh reality for REITs was reflected in the sombre mood at NAREIT’s annual conference. But the meeting noted some bright lights, as Jon Peterson reports
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MagazineRay of light in the crisis
The very severity of the blows dealt to the US commercial real estate market by the credit crisis and the weak economy could lead to some of the best bargains in CRE investing in our lifetimes, says Michael Pralle
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Magazine
Funds apply the brakes
A reluctance to commit capital to new real estate investments today can be seen in the number of US pension funds delaying manager searches. Jon Peterson reports
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MagazineAll aboard the transatlantic ship
A once-in-a-lifetime opportunity or a potential minefield of uncertainty? Richard Lowe talks to both European investors and advisers on the ground about distressed opportunities in the US
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Maine Public Employees pushes ahead with real estate strategy
UNITED STATES - Maine Public Employees Retirement System is moving ahead with plans to grow its real estate programme, as officials will begin the search for a real estate consultant with the next six months.
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LACERA changes real estate benchmark
UNITED STATES - Los Angeles County Employees Retirement Association has approved a new returns benchmark for investing in real estate.
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Infrastructure investors to buy Puget Energy
US – Puget Holdings LLC, a group of long-term infrastructure investors which includes the Canada Pension Plan Investment Board (CPPIB), expects to buyout Puget Energy and its wholly-owned subsidiary Puget Sound Energy (PSE) by early February.
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Morgan Stanley reopens revised infrastructure pool
UNITED STATES – Morgan Stanley Investment Management (MSIM) has re-opened its Morgan Stanley Global Infrastructure Fund 1 to new investors in the United States, in anticipation of growing investment opportunities across the globe.
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Texas Teachers gets new head
US – The Teacher Retirement System of Texas (TRS) has appointed Linus Wright as the system’s new chairman, following Jim Lee’s decision to resign from the post to pursue a new business venture.
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San Bernardino to cash in real estate
UNITED STATES - San Bernardino County Employees Retirement Association has voted to issue redemption queues in three open-ended commingled funds amounting to $106m (€80.3m).
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Wisconsin extends commingled fund relations
UNITED STATES - Wisconsin State Investment Board has approved two new commitments worth €42m with existing commingled fund managers.
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US Reits fall over a third
UNITED STATES - Real Estate Investment Trusts lost on average 37.3% in 2008, according to the latest report by the National Association of Real Estate Investment Trusts (REITs) in the United States.
