All articles by Jon Peterson – Page 36
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US funds choose the commingled industrial option
UNITED STATES – Some pension funds in the United States are showing evidence of preferring to invest in industrial properties through commingled funds, rather than direct.
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Oregon to spend $700m on real estate
UNITED STATES - Oregon Public Employees Retirement Fund has approved an investment worth $700m (€477.7m) into three real estate commingled funds.
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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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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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Ohio School expands into global REITs
UNITED STATES – The School Employees Retirement System of Ohio has expanded into global REITs investment for the first time with a $200m (€135.4m) allocation.
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LACERA commits to pan-European fund
UNITED STATES - Los Angeles County Employees Retirement Association has approved a $25m (€16.9m) commitment into the Europa fund III commingled fund, which is also expected to contribute to Nordic and Swiss property deals.
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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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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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CalSTRS expands industrial JV to Europe
UNITED STATES - California State Teachers Retirement System CalSTRS) and First Industrial Realty Trust have moved their industrial joint venture program to Europe for the first time.
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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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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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PGGM extends US apartments
UNITED STATES - PGGM has decided to expand its investment in US residential property with Behringer Harvard by as much as an additional $200m (€136.3m).
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Morgan Stanley forms solar project fund
UNITED STATES - Morgan Stanley has put together a $200m (€135.9m) solar project fund to invest with Recurrent Energy and provide solar power to institutionally-owned real estate across the country.
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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.
