All Americas articles – Page 167
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RV Kuhns adds real estate presence
UNITED STATES - RV Kuhns & Associates has become the latest general investment consultant in the United States to have its own real estate team.
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US pension funds see new opportunity
UNITED STATES – Pennsylvania State Employees Retirement System and the Teacher Retirement System of Texas are two of the latest US pension funds to place capital into opportunity funds.
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JP Morgan creates $726m apartment JV
UNITED STATES - JP Morgan Asset Management has setup a $726m (€498.6m) joint venture with Apartment Investment and Management Company to gain a co-ownership of three apartment complexes in West Los Angeles.
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ING Clarion redevelops mixed-use site
UNITED STATES - ING Clarion Partners and Panattoni Development Company have formed a joint venture to redevelop a former Boeing Company site as a major mixed-use project in Anaheim, California.
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Alaska Permanent Fund resettles in Chicago
UNITED STATES - Alaska Permanent Fund Corporation has moved back into investing in the Chicago real estate market for the first time in several years, through the purchase of The Shops at North Bridge.
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Cap rates stay low on in retail shopping
UNITED STATES - The Oregon Public Employees Retirement Fund has been able to pick up new purchases which suggests cap rates on grocery anchored shopping centers are staying low and have yet to be hit impacted by the changes in the debt market.
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Shorenstein taps investors for mezzanine deals
UNITED STATES - Shorenstein Properties LLC has decided to reopen its last closed-end mezzanine commingled fund Shorenstein Realty Investors Nine to existing investors, in a bid to make gains before financing capital hits the market.
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Enrichment claims send ‘inadequate’ OMERS board to court
CANADA - Ontario’s appellate court has passed for trial the main substance of a claim arguing the CA$48bn (€32bn) Ontario Municipal Employees Retirement System (OMERs) pension scheme was duped into “unjust enrichment” of directors of its real estate management firm.
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US state scheme invests in student housing
UNITED STATES - An unnamed US state pension fund has set up a US$100m (€67.5m) account to invest in student and faculty accommodation at the University of California.
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Principal buys into retail partnership
UNITED STATES - Principal Real Estate Investors has created a partnership with McCaffery Interests to invest in US retail properties.
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Texas Teachers spends $600m on finance and overseas
UNITED STATES - Teacher Retirement System of Texas is looking at making new real estate commitments totaling $600m (€402.8m), the bulk of which will tap into the demand for institutional debt support.
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Core gains momentum in State of Connecticut
UNITED STATES - State of Connecticut Trust Funds has added to its core real estate portfolio by making a $75m (€51.2m) commitment to the Cornerstone Patriot Fund.
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Indiana moves into real estate
UNITED STATES - Indiana Public Employees Retirement Fund has approved $300m (€205.7m) worth of real estate investments as it moves into the asset class for the first time.
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Ohio PERS expands REIT investment program
UNITED STATES - Ohio Public Employees Retirement System has expanded the Reit investment program of its healthcare fund by 1% to 6%.
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Pennsylvania Public School to invest $641.5m into real estate
UNITED STATES - Pennsylvania Public School Employees’ Retirement System intends to allocate up to $641.5m (€436.1m) in new real estate investments through a variety of commingled funds, in a bid to tap advantages thrown up by the credit crisis.
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CalPERS ups real estate allocation by 2%
UNITED STATES - The California Public Employees’ Retirement System (CalPERS) has increased its allocation to real estate by 2%, to provide around $4bn (€2.88bn) of extra investment into the sector.
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CalSTRS and Waterson seek apartment viewings
UNITED STATES - California State Teachers Retirement System and Waterton Associates have created a new apartment investment fund, to tap into what they anticipate will be a shift in the sector.
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Illinois Teachers allocates office space
UNITED STATES - Teacher Retirement System of the State of Illinois has approved two real estate investments totaling $187.5m (€127.4m) which contribute to the acquisition of office space.
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Courtland arrival firms West Coast division
UNITED STATES - Courtland Partners has hired Lou Canlas as a principal to boost its pension fund real estate consulting operations on the West Coast.
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Concerns raised as returns drive pensions diversity
GLOBAL - The argument for global diversification is becoming more compelling, but institutional investors are often simply investing according to total return expectations, say industry experts.
