Americas – Page 174
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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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Magazine
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.
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MagazineCash at the ready
The US market is paralysed by uncertainty about the future, but plenty of capital is poised for a signal to invest. Stephanie Schwartz-Driver reports
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ING Clarion deal signals market re-entry
UNITED STATES- ING Clarion Partners has shown its belief in the comeback of the real estate market and made its first acquisition in over two years for the Clarion Development Ventures III commingled fund.
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Wisconsin eyes debt as part of $250m signing
UNITED STATES – The State of Wisconsin Investment Board is in process with making new investments in real estate totalling $250m (€183.9m).
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Mass PRIM to invest $1bn in 2010
UNITED STATES - Massachusetts Pension Reserves Investment Management Board has approved its 2010 annual real estate investment plan and could allocate as much as $1bn (€729.7m) to the asset class over the next 12 months.
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COP says US real estate could bring TARP downturn
US – Real estate loan failures at a large number of small and medium-sized US banks could destabilise the country’s financial system and derail its economy recovery, according to the government body set up to monitor the unwinding of toxic assets.
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Ohio PERS eyes apartments and mortgages
UNITED STATES – The Ohio Public Employees Retirement System has issued Requests for Information (RFI) concerning separate account managers working in the residential apartments and first mortgage loan portfolios space.
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SURS takes conservative approach to real estate
UNITED STATE - State Universities Retirement System of Illinois (SURS) is planning to apply conservative growth to its 6% targeted allocation to real estate.
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Nebraska nears investment in secondary market (amended)
UNITED STATES - Nebraska Investment Council is expected to put money in the secondary real estate market next month on behalf of its pension fund, and may make a $25m (€17.9m) investment in a Landmark Partners fund.
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New Jersey to tap structured credit...while it can
UNITED STATES – The New Jersey Division of Investment has established a $300m (€212m) separate account with Och-Ziff Capital Management to invest in structured credit investment products.
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Kansas PERS puts $150m into preferred REIT securities
UNITED STATES- Kansas Public Employees Retirement System has allocated $150m (€106m) to US preferred REIT securities through an existing REIT manager, Brookfield Redding.
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NY Common signs up to public-private programme
US – The New York State Common Retirement Fund has invested in the US government’s Public-Private Investment Program (PPIP) via to third-party real estate fund managers.
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Pramerica to target Mexican pension funds
UNITED STATES- Pramerica Real Estate Investors is creating a commingled investment fund which for the first time will encourage only Mexican pension funds to invest.
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SanFran CCERS moves assets from bankrupt Capmark
UNITED STATES – The San Francisco City and County Employees’ Retirement System is transferring the assets held in a separate account managed by Capmark Real Estate Equity Group following the asset manager’s bankruptcy.
