Americas – Page 191
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News
MacFarlane raises $1bn for urban investment
UNITED STATES - MacFarlane Partners has raised $1bn (€683.6m) for Urban Real Estate Fund II, making this one of the largest urban commingled funds ever to be created in the United States.
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Ohio School Employees places capital into non-core property
UNITED STATES - School Employees Retirement System of Ohio has approved commitments totaling $100m (€67.2m) into two non-core commingled funds, as its investment strategy for 2008 is to ignore the core real estate market.
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Arizona State to take real estate over the border
UNITED STATES - Arizona State Retirement System has decided to open its real estate investment program to the international stage on both the private and public side.
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MagazineCrisis of confidence
Kevin White and Leonard Mills examine the causes and consequences of the credit crunch kicked off in the US residential property market
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MagazineFroth from the cappuccino
An analysis of the current global economic crisis was one of the key items on the agenda of this year’s annual AFIRE meet in Washington, DC, writes Kathryn Hamilton
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MagazineCaution goes to Hollywood
Even a glamorous Beverly Hills setting could not hide a marked change in sentiment at PREA’s autumn conference. Martin Hurst reports
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CalPERS drops RREEF after key staff losses
UNITED STATES – RREEF has lost the contract to manage California Public Employees Retirement System’s CalWest Industrial Investors LLC separate account following the departure of several key officials earlier this year.
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Washington State ups real estate allocation
UNITED STATES - Washington State Investment Board has decided to boost its real estate allocation from 12% to 13%.
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Texas Teachers invest in land banking
UNITED STATES - Teacher Retirement System of Texas has approved a commitment of $150m ($101.4m euros) into the Stratford Land Fund III commingled fund, as there is now less appetite for building physical developments.
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Apartments hit most by market shift – Pramerica
UNITED STATES - Pramerica Real Estate Investors is predicting the apartment market will be the most affected of all major property types by the recent changes in the residential housing and credit markets.
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US pensions shift further into structured finance
UNITED STATES – Increased pension fund capital in the United States is expected to flow into structured finance over the coming months, following moves by two schemes to invest in the sector.
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NY State Teachers to pull out of two core funds
UNITED STATES - New York State Teachers Retirement System is thinking of withdrawing $225m (€153m) from two US core open-ended commingled funds.
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CPPIB to make direct bid to airport shareholders
NEW ZEALAND - The CA$120.5bn (€89bn) Canada Pension Plan Investment Board (CPPIB) is to approach Auckland International Airport (AIAL) shareholders directly after the firm called off talks on its bid to acquire a 49% stake.
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DTZ strikes oil with Canada buy
CANADA - As Canadian pension funds continue to invest aggressively in overseas infrastructure, DTZ has announced it is entering the market through the CA$31m (€22.5m) acquisition of property services firm JJ Barnicke.
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Pennsylvania State signs to $1bn Mexico fund
UNITED STATES - Pennsylvania State Employees Retirement System is thinking of making a commitment to a $1bn (€681.3m) Latin America residential fund being launched by Pramerica Real Estate Investors.
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Illinois Teachers widens separate account plans
UNITED STATES - Teachers Retirement System of the State of Illinois is planning a shift in its separate accounts real estate programme when it makes its next manager search.
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Principal study calls end of cap rate compression
UNITED STATES - Principal Real Estate Investors feels that time of the cap rate compression in the United States has run its course, according to a report investigating current real estate market potential.
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LACERA trades property for commingled fund
UNITED STATES - Los Angeles County Employees Retirement Association has sold a shopping centre in Los Angeles and traded it for an investment into a commingled fund with the same real estate manager.
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Pramerica expands into Brazil
UNITED STATES - Pramerica Real Estate Investors has expanded its industrial investment efforts into Brazil for the first time, through a joint venture with Racional Engenharia.
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US pension funds rest sleeping capital in hotels
UNITED STATES - Pension funds are still eyeing hotel properties as a good investment, as San Diego is the latest to shift additional assets into the sector and Principal has made its first purchase for investors.
