Americas – Page 179
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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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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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News
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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News
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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News
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.
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News
Interest in US derivatives picks up
UNITED STATES – The use of property derivatives by institutional investors, including pension funds, has increased in the United States, following their losses resulting from the financial crisis, according to data analysts.
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PBGC moves into real estate with three ‘strategic partners’
US – The Pension Benefit Guaranty Corporation (PBGC) has selected BlackRock, Goldman Sachs and JP Morgan to mange $2.5bn (€1.9bn) in real estate and private equity assets.
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News
Rene Tremblay joins Caisse de Depot
CANADA – Caisse de dépôt et placement du Québec, manager of public pension plans in Québec, has appointed Rene Tremblay as executive vice-president of real estate.
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News
Over-exposed Alaska Retirement issues redemption queues
UNITED STATES – Alaska Retirement Management Board (ARMB) is to issue $103m (€76.3m) of redemption queues on three open-ended commingled funds as its allocation to real estate exceeds its strategic target.
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Illinois State Universities to capitalise on 2009 opportunities
UNITED STATES – State Universities Retirement System of Illinois has entered into the opportunistic real estate space by making a $40m (€29.4m) commitment to the Dune Real Estate Fund II.
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News
Goodman and L&G raise equity for ABPP
GLOBAL – Australia’s Goodman Group and the UK’s Legal & General have raised £350m (€383m) of equity for real estate fund Arlington Business Park Partnership (ABPP).
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News
Hypo Real Estate faces claims for damages
GLOBAL – Pension funds are making the first claims for damages against Hypo Real Estate (HRE) for failing to reveal its financial difficulties sooner.
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MagazineNew optimism
Despite the recession, investors still see the US as providing the most stable and secure investments.Buoyed by some recovery in lending, cross-border investment into the country looks set to increase sharply, as James Fetgatter reports
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News
Ohio PERS looks to 2009
UNITED STATES - Ohio Public Employees Retirement System has approved an annual real estate investment plan for 2009 which will see some fresh investments but will eventually lead to more properties being disposed of.
