All articles by Jon Peterson – Page 43
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Walton Street closes on CalWest industry
UNITED STATES - Walton Street Capital has completed the $2.8bn (€2.06bn) acquisition of the CalWest Industrial portfolio. Leverage of around 85% was placed on the transaction while yield was in the region of 5%, to factor in the existing inc...
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Stockbridge brings in executives to take on RREEF
UNITED STATES - Several former executives RREEF North America are hooking up with Stockbridge Capital Group in September in a bid to build an operation rivaling their former employer. Steve Steppe, former chairman of RREEF’s North America op...
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Pennsylvania Public School approves Euro commitment
UNITED STATES - Pennsylvania Public School Employees Retirement System has agreed to invest 25% of the committed capital into the Carlyle Europe Real Estate Partners III commingled fund, as long as the total is no more than €200m. Working in...
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Ohio School Employees schedule annual real estate plan
Ohio School Employees approves annual real estate UNITED STATES - School Employees Retirement System of Ohio has approved a new annual plan to invest around $100-$150m (€73.4m-€110m) in real estate for fiscal year 2008. The pension ...
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US real estate investment to slow
UNITED STATES - Mercer Investment Consulting is expecting less pension fund money to enter the US real estate markets this year. According to Real Estate newsletter, the market has matured sufficiently to expect inflows of assets will now slow, sa...
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Pennsylvania State Employees pursues opportunity
UNITED STATES - Pennsylvania State Employees Retirement System has approved a $50m (€37.1m) commitment into the Rockpoint Real Estate Fund III by recycling its capital. Principal at The Townsend Group, Rob Kochis, has been working with the p...
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Cornerstone to market new hotel fund
UNITED STATES - Cornerstone Real Estate Advisers is to begin the marketing process for its next commingled fundraising. The real estate manager is looking at raising around $400m ($297.1m euros) to $600m through the Cornerstone Hotel Income and Eq...
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Morgan Stanley fund reaches $8bn height
UNITED STATES - Morgan Stanley Real Estate has raised $8bn (€5.94bn) for its most recently-completed international commingled fund MSREF VI International. – the largest sum ever raised for a single real estate fund. Capital raised was ...
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Orange County Employees places $116m
UNITED STATES - Orange County Employees Retirement System has approved real estate investments totaling $116m (€86.4m) to be invested in a mixture of public and private real estate. The pension fund approved $75m of capital to be managed by ...
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Developers Diversified reveals US investment offering
UNITED STATES - Developers Diversified Realty has unveiled a new retail investment fund called DDR Domestic Retail Fund I. A total of $539m (€401.7m) equity is invested in the commingled fund, of which around $430m or 80% of the equity came ...
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Los Angeles Fire & Police expands real estate view
UNITED STATES- Los Angeles Fire & Police Pension System is taking a look at three separate real estate buys through a mixture of fund selection and direct investment. The pension fund’s real estate consultant, The Townsend Group, will su...
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Institutional capital still flowing to Latin America - Pramerica
UNITED STATES - Latin America real estate is still seeing strong capital inflows and interest , according to a quarterly research report done by Pramerica Real Estate Investors. Much of that activity is happening in Mexico as the country is attrac...
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AMB completes initial capital for European fund
UNITED STATES – European pension funds were key investors in the initial fund-raising period for AMB Europe Fund I commingled fund, according to AMB executives. John Roberts, president of AMB Capital Partners, said around 95% of the capital ...
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CalPERS commits $200m to Asia
UNITED STATES - California Public Employees Retirement System is the latest pension fund to further invest in Asian real estate after approving a $200m (€149.2m) commitment to the Asia Real Estate Securities Opportunity Fund. Jane Delfendahl...
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Ennis Knupp to increase real estate presence
UNITED STATES - Ennis Knupp & Associates is seeking on expanding its expertise in the real estate asset class as the firm intends to hire four new people over coming months to increase its exposure to the asset class. Scott Brown, principal an...
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Pension funds see Heitman hit double the target
UNITED STATES - Heitman has attracted pension fund institutional investors to the tune of $800m ($599.6m euros) for its commingled fund known as Heitman Value Partners II - double the size of its original $400m Heitman Value Partners offering. One...
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CalSTRS gets closer to its real estate allocation
UNITED STATES- The California State Teachers Retirement System is inching its ways towards its targeted real estate allocation of 11% as the pension fund invested $560m (€420m) in the first quarter of this year. CalSTRS has now invested 9...
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Alaska to invest in infrastructure
UNITED STATES- The Alaska Permanent Fund Corporation making its first move towards investing in infrastructure and plans to initially invest up to $800m ($601.9m euros) in the concept as a separate asset class. The $40bn pension fund agreed at it...
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JER raises €800m for Europe
UNITED STATES – JER Partners has raised €809m for its called JER Europe Fund III - the largest European investment fund so far for the company. JER accumulated €128m in 1998 through its Europe Fund I and six years later raised a ...
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Oregon edges to target with new deals
UNITED STATES - The Oregon State Treasury has approved two real estate investments for two different institutional investors totaling $129m ($95.6m euros), which edges Oregon Public Employees Retirement Fund (PERF) closer to its 8% real estate alloca...
