All articles by Jon Peterson – Page 45
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DRA to buy public office REIT building asset
UNITED STATES - DRA Advisors has signed an agreement to acquire a majority interest in the office building assets held by Colonial Properties Trust. The deal is projected to close sometime during the second quarter but should see DRA purchase the ...
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AEW beats its commingled target
UNITED STATES - AEW Capital Management has raised $651m (€480.5m) for its latest commingled fund, AEW Value Investors II - significantly more than its original target of raise $500m. Around 40% of the investors in Value Investors II were rep...
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PPSERS to invest $600m
UNITED STATES - Pennsylvania Public School Employees Retirement System has approved commitments of up to $600m ($440.6m euros) into two commingled funds. One of the commitments involved investing capital into the Beacon Capital Strategic Partners ...
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Arizona State tweaks real estate program
US - Arizona State Retirement System has adjusted its portfolio and the amount its real estate program invests in core, non-core and public REITs because of increasing prices of core properties. The maximum amount of the pension fund’s real ...
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Los Angeles County adds co-investment option
US - Los Angeles County Employees Retirement Association has added a co-investment option to its real estate investment strategy. This will be the first time the pension fund has had a co-investment option, having taken this action at its board m...
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Buchanan commingled raises $414m
US - Buchanan Street Partners has completed its equity raise for its latest commingled fund and attracted total commitments of $414m ($304.9m euros) to the Buchanan Fund V. Buchanan had originally intended to raise somewhere in the neighborhood of...
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NYSTRS adds $150m to commingled funds
US - New York State Teachers Retirement System has approved commitments to two new commingled funds totaling no less than $150m (€110.3m). One of these commitments is for the ING Clarion Debt Opportunity Fund II and will see the pension fund...
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Texas Teachers move 10% into real estate
US - Teacher Retirement System of Texas is planning to allocate 10% of its portfolio assets in real estate. Speaking about the move, Rob Kochis, principal with The Townsend Group which acts the Texas Teachers real estate consultant, said: "T...
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JER invests equity in resort mixed-use project
REAL ESTATE - JER Partners has made a $96m (E70.5m) preferred equity investment into the Snowmass Base Village, Snowmass Center and West Village mixed-use project near Aspen, Colo. Cia Buckley ,president of the US Fund Business for JER Partners, s...
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Apollo expands urban residential strategy to Los Angeles
REAL ESTATE – US investor Apollo Real Estate Advisors has broadened its urban residential investment strategy to Los Angeles for the first time with the purchase of 1,002 rental units in the region. Apollo partner Dean Pentikis who heads up...
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Fifield creates $400m joint venture with Pacific Life
REAL ESTATE – In the US, Fifield Companies has created an apartment development joint venture with Pacific Life Insurance Company. The two firms together will construct $400m (E293m ) worth of properties over the next 24 months. The structu...
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San Bernardino expands timber allocation to 4%
REAL ESTATE - San Bernardino County Employees Retirement Association has decided to expand its asset class for investing in timberland from 2 to 4%. The pension fund feels that timber deserves its own asset class. Investment officer Don Pierce s...
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New Jersey looks at making commingled fund investments totaling $200m
REAL ESTATE - New Jersey Division of Investment is looking into making commitments into three commingled funds totaling $200m (E147.5m). These investments were discussed at its board meeting on April 19. The pension fund was assisted in this ac...
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PREI sets up life science real estate venture
REAL ESTATE - Pramerica Real Estate Investors has formed a joint venture with BioMed Realty Trust to invest in life science properties across the United States. The first transaction for the relationship involves three assets that are located in Cam...
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San Bernardino backs two commingled funds
REAL ESTATE - San Bernardino County Employees’ Retirement Association has made commitments to real estate commingled funds totaling $40m (€29.4m). One of these commitments was a $20m allocation to Beacon Capital Strategic Partners V....
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Townsend axed by Los Angeles City scheme
REAL ESTATE - The $10.7bn (€7.8bn) Los Angeles City Employees’ Retirement System has appointed Courtland Partners as its new real estate consultant, resulting in a loss for incumbent consultant The Townsend Group. The fund's investment...
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CalSTRS buys Chicago apartments for $470m
REAL ESTATE - California State Teachers Retirement System and Waterton Associates have acquired the 2,346-unit Presidential Towers apartment complex in Chicago for around $470m (€345.4m). This transaction represents one of the largest sing...
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Santa Barbara OKs new real estate policy
REAL ESTATE - Santa Barbara County Employees’ Retirement System has approved a new real estate investment policy. It happened at the fund’s board meeting on March 28. The pension fund was assisted in this investment activity by its c...
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BlackRock adds to Terranova venture
REAL ESTATE - BlackRock Realty and Terranova Corporation have added to their joint venture with the purchase of the 88, 850 s.f. Paraiso Parc in Pembroke Pines, Fla. The property was purchased for $39m (€29.02m). This asset is a new grocery...
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Texas Teachers to invest $925m in real estate
REAL ESTATE- Teacher Retirement System of Texas will be looking at $925m (€692.3m) worth of real estate investments at its April board meeting. These will be commitments with new and existing real estate managers. A new manager that it will...
