All Americas articles – Page 166
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SanFran Employees selects global REIT managers
UNITED STATES - San Francisco Employees’ Retirement System has selected European Investors and ING Clarion Real Estate Securities as its global Reit managers.
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Russell Investments adds real estate staff
UNITED STATES - Russell Investments has expanded its real estate staff with the hiring of Dawne Clark as a portfolio manager.
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Hotel investors build at home, buy abroad
US/GLOBAL -US hospitality investors are looking to Asia for returns but will face increasing competition from local investors, according to a report by Ernst & Young.
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Credit crunch cost $3-4trn – JP Morgan
GLOBAL – JP Morgan officials say investment market turbulence sparked by the US subprime housing crisis may already have cost in excess of $3trn (€2.04trn) in lost credit and warn there could be more to come under tightened credit pricing.
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ING Clarion targets $5bn in 2008
UNITED STATES - ING Clarion is expecting to invest $5bn (€3.44bn) in real estate in the United States and Mexico in 2008 - equal to its accomplishments in 2007 despite the recent market downturn.
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Mass PRIM expands REIT program
UNITED STATES - Massachusetts Pension Reserves Investment Management Board has decided to expand its REIT investment program by increasing its allocation by 50%.
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NYSTRS buys $250m in fresh real estate
UNITED STATES - New York State Teachers Retirement System has added a mix of international, opportunistic and structured finance funds to its real estate portfolio totaling up to $250m (€171.1m).
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Savanna creates first institutional fund
UNITED STATES - Savanna Investment Management has joined the institutional fund management business with the closing of its Savanna Real Estate Fund I.
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New Jersey PF pulls partners
UNITED STATES - New Jersey state pension fund is scouting institutional partners for infrastructure investment as part of a broader strategy aimed at leveraging critical mass to gain better deal terms.
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US pension funds see 5% drop on real estate
UNITED STATES - The Transaction-Based Index compiled by the MIT Center for Real Estate has indicated the value of commercial real estate owned by the large pension funds in the United States fell 5% in the fourth quarter of 2007.
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CalSTRS expands industrial JV with new partner
UNITED STATES - California State Teachers Retirement System has expanded its joint venture industrial program beyond First Industrial Trust by creating a new relationship with Sealy & Company.
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Pramerica sets up hotel JV
UNITED STATES - Pramerica Real Estate Investors has formed a new joint venture with Ashford Hospitality Trust to invest in hotel properties through structured debt and equity.
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Canada scheme bags prime office
CANADA - CPP Investment Board (CPPIB), the investment arm of Canada’s CA$121.3bn (€82bn) public pension fund, has upped its exposure to domestic prime commercial with the CA$64m (€43m) investment in an Edmonton office block.
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MagazineOpportunity in adversity
Transaction volume is down sharply but investor interest remains, with both a flight to quality and activity in distressed deals. Meanwhile the threat of recession looms large, Stephanie Schwartz-Driver finds
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MagazineMarket view: US on brink of recession
The risk of a US economic recession has been consistently on the rise since July. Moody’s Economy.com posted the probability of a recession occurring in the US within the next six months at 15.3% in July.
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Orange County adopts commingled strategy
UNITED STATES - Orange County Employees Retirement System is adopting a real estate investment strategy which will see it only invest in commingled funds.
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Pramerica widens LatAm operations
UNITED STATES - Pramerica Real Estate Investors has extended its real estate investment area into South America and made its first investment in Argentina, but the firm is looking for its first deal in Chile.
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Ohio Police & Fire shifts direct property into core fund
UNITED STATES - Ohio Police & Fire Pension Fund has made a $200m (€135.4m) investment with Invesco, as part of a deal which sees some of its properties move into its core real estate fund.
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New Jersey eyes $2bn in real estate
UNITED STATES - New Jersey Division of Investment will be looking at investing as much as $2bn (€1.38bn) in real estate for 2008.
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Washington State commits to Brazil
UNITED STATES - Washington State Investment Board has decided to allocate $100m (€68.4m) into a commingled fund providing debt and equity investments in Brazilian real estate.
