All articles by Jon Peterson – Page 44
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Shorenstein sees new fund climb fast
UNITED STATES - Shorenstein Properties LLC had one of the fastest fundraising periods in recent memory with its latest commingled fund, the Shorenstein Realty Investors Nine. Around 85% of the investor commitments for the new fund had previously i...
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ING Clarion takes hotel REIT private
UNITED STATES- ING Clarion Partners has acquired Apple Hospitality Two and turned it from a REIT owning 63 extended stay hotel properties in 24 states into a private company. Acquisition price for the company was $877m ($649.5m euros) and financed...
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More pension fund capital headed for infrastructure investing
UNITED STATES - More pension funds are expected to move into investing in infrastructure in the months ahead as New Jersey Division of Investment, California State Teachers Retirement System and Alaska Permanent Fund Corporation have now expressed an...
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Hawkeye Partners begins emerging manager capital handover
UNITED STATES - Hawkeye Partners is about to begin the process of allocating equity it raised through its Scout Fund to emerging managers. The commingled fund manager raised in excess of $650m ($480.3m euros) for the fund through a select group of...
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Texas Employees makes major move to global REITs
UNITED STATES - The Employees Retirement System of Texas has decided to invest all of its targeted allocation for real estate into a global REIT investment strategy. The $24bn (€17.86bn) public pension fund’s targeted allocation for r...
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Ohio School Employees targets Euro investment
UNITED STATES- School Employees Retirement System of Ohio has approved a commitment of up to $25m ($18.6m euros) into the Rockspring TransEuropean Property LPIV. The pension fund made a commitment at its board meeting on May 17th to globally dive...
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US real estate still looks good - ING Clarion
UNITED STATES - Economic and industry fundamentals are still in place to support continued strength in the United States commercial real estate markets in 2007 but returns will be moderate and cap rates will ease, according to ING Clarion. In a US...
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CalSTRS shifts focus of real estate allocations
UNITED STATES - California State Teachers Retirement System is changing the overall composition of its real estate portfolio to introduce publicly-traded investments as a portfolio segment. At present, CalSTRS has core real estate make-up of betw...
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Illinois Teachers commits $250m to real estate
UNITED STATES- The Teachers’ Retirement System of the State of Illinois is commiting $250m ($186.2m euros) to real estate investment funds through a combination of new and existing managers. New manager commitments total $150m, seeing $100m...
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Morgan Stanley widens its real estate presence
GLOBAL - Morgan Stanley Real Estate is making its first move into Poland and expanding operations in Brazil, just as it is thought to be completing its biggest ever real estate fund launch. The real estate manager has acquired a 25% stake in WAN ...
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Ohio PERS moves ahead with real estate plan
UNITED STATES - Ohio Public Employees Retirement System is making some headway in its plans to invest $1.35bn ($1.004bn euros) in real estate this year. The pension fund had allocated $300m to invest in closed-ended commingled funds in 2007 as we...
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Pramerica adds presence in Mexico
MEXICO - Pramerica Real Estate Investors is expanding its investment operations in Mexico with a new strategic alliance with Industrial Global Solutions de Mexico SA de CV. Pramerica anticipates it will invest in one to three million square feet ...
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Washington State commits $300m to opportunity fund
UNITED STATES - Washington State Investment Board has approved a commitment of up to $300m ($223m euros) into the Fortress Investment Fund V. Having agreed the action at its board meeting on May 17th, the investment will be split to give directly ...
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Wisconsin plans global REIT manager search
UNITED STATES- Wisconsin State Investment Board is now planning a new REIT manager search to invest in global securities with the support of its real estate consultant Courtland Partners. The pension fund believes now is a good time to explore a g...
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RREEF to lose top executive
UNITED STATES - RREEF is losing one of its top executives as Steve Steppe has resigned and leaves at the end of July. Steppe is now on gardening leave – a term used by the asset management industry stating he is not allowed to work for any c...
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Increased pension fund capital heads for student housing
UNITED STATES- There are increasing signs of additional pension fund capital moving into the student housing sector. A series of indicators suggest there is renewed pension fund interest in the student accommodation sector including a move by RREE...
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San Francisco City and County to place $750m
UNITED STATES - City and County of San Francisco Employees’ Retirement System has approved an allocation of $750m ($553.7m euros) to be invested in real estate for fiscal year 2008. Assisted by real estate consultant, The Townsend Group, the...
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CalPERS invests $490m in three real estate strategies
UNITED STATES- California Public Employees Retirement System has agreed to invest $490m ($361.7m euros) into three separate real estate strategies. This is a follow on investment for CalPERS of $190m into the Hines European Development Fund II, ha...
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CalSTRS and Fillmore Capital book into hotels
UNITED STATES - California State Teachers Retirement System and Fillmore Capital Partners have invested capital in a deal which involves the acquisition of eight US luxury resort hotels by Morgan Stanley Real Estate.
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Pramerica funds new development company
UNITED STATES - Pramerica Real Estate Investors has invested capital in a venture designed to jumpstart a new retail development company. Through a division called Interra Development Partners, Pramerica contributed 95% or $47.5m (€69.4m) of...
