All articles by Jon Peterson – Page 48
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News
New York State Teachers invests in two euro commingled funds
REAL ESTATE - The New York State Teachers Retirement System has approved real estate investments in two commingled funds outside the US. One was a €28m commitment to the CB Richard Ellis Strategic Partners UK Fund III. The other was a ?...
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RREEF joins with Epiphany for luxury residential club venture
REAL ESTATE – Property firm RREEF has formed an equity joint venture with Epiphany Capital Partners that will invest in the luxury residential club industry. RREEF had been looking for some time at investing in the residential club business....
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San Diego County approves investment in apartment commingled fund
REAL ESTATE - San Diego County Employees Retirement System has allocated a $25m(€19m) commitment into the Cornerstone Apartment Ventures III, LLC. The pension fund took this action on its real estate portfolio at its board meeting earlier ...
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CalSTRS expands US apartment JV with BlackRock
REAL ESTATE - California State Teachers Retirement System is in the process of expanding its apartment joint venture with BlackRock Realty called BlackRock Cal I, LLC. The pension fund will be contributing $300m(€231m) of additional equity t...
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Missouri pension fund creates real estate allocation
REAL ESTATE - The Missouri Local Government Employees Retirement System has established a real estate allocation for the first time. The amount that was approved is 5% of its total assets. The pension fund made this decision at its recent board m...
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Oklahoma pension fund to invest in real estate for first time
REAL ESTATE - The Oklahoma Police Pension and Retirement System has decided to invest in real estate for the first time with a new commingled fund manager search. The pension fund has Judy Collins at its chief financial officer. She said: "...
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UBS in JV with Alder to exploit southeast US opportunities
REAL ESTATE - UBS Global Asset Management and the Alder Group have formed a joint venture to invest in up to $300m(€232m) worth of assets in the southeast in the US. The debt to equity ratio for the transactions are 60%-40%. The venture wil...
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Pennsylvania Public School to place up to $525m in real estate
REAL ESTATE - The Pennsylvania Public School Employees Retirement System has approved investments in two commingled funds that could total $525m(€406m). The pension fund took this action at its recent board meeting Pennsylvania Public Schoo...
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Rockpoint Group raises $500m for new commingled fund
REAL ESTATE - The Rockpoint Group has raised approximately $500m(€387m)of equity for its newest commingled fund, Rockpoint Finance Fund I. The commingled fund has a unique investment strategy. The large majority of its transactions will be ...
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Angelo Gordon raises $160m for net-lease fund
REAL ESTATE - Angelo, Gordon & Co recently finished the money raising portion of its latest commingled fund, AG Net Lease Realty Fund LP. The total amount of equity in the fund is $160m(€124m). The alternative investment manager attract...
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Morgan Stanley sets up senior housing JV
REAL ESTATE - Morgan Stanley Real Estate has created a senior housing joint venture with National Health Care Properties. Dave Hardman is head of US real estate investing for Morgan Stanley. He said, "We feel good about doing business with ...
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US retirement fund to invest in more international funds
REAL ESTATE - San Bernardino County Employees Retirement Association will be looking to invest more capital into commingled real estate funds that pursue an international real estate strategy. Don Pierce, who is the investment officer for the pens...
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News
Ohio Police & Fire issues RFP for independent fiduciary
REAL ESTATE - The Ohio Police & Fire Pension Fund has issued a request for proposal (RFP) for an independent fiduciary to evaluate a portion of its real estate portfolio. The responses are due to the pension fund on or before 3:00 PM eastern tim...
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Great Point to expand into US commingled fund business
REAL ESTATE – In the US, Great Point Investors will be expanding into the commingled fund real estate business for the first time with its Great Point Value Fund. Principal Gary Schwandt said, "It’s our opinion that most pension ...
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New Jersey fund to invest $100m with Blackstone
REAL ESTATE - The New Jersey Division of Investment has approved a $100m(€77m) commitment into the Blackstone Real Estate Partners VI. The pension fund approved this investment at its board meeting on January 18. The pension fund will put t...
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REIT and pension fund manager setup retail venture
REAL ESTATE - Ramco-Gershenson Properties Trust and Heitman have created a JV to invest in retail properties in selected markets across the US. The total amount of equity in the joint venture is around $159m(€123m). The equity contributions...
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Pramerica creates JV to develop senior living in UK
REAL ESTATE - Pramerica Real Estate Investors has put together a joint venture with Sunrise Senior Living to construct senior living properties in the United Kingdom. Jonathan Short, managing director and head of the group’s European merchan...
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CalPERS to participate in new REIT IPO
REAL ESTATE - The California Public Employees Retirement System figures to be part of a new initial public that should be coming to the market in January. The new REIT being created is called Meruelo Maddux Properties, Inc. The total number of sh...
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Morgan Stanley fund buys €400m New York office
REAL ESTATE - Morgan Stanley Real Estate has made a major office building purchase in New York City with the acquisition of the one million2ft. 2 Park Avenue in Midtown Manhattan. The purchase price for the property was $519m(€400m). This w...
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Regency Centers forms open-ended $1.2bn retail fund
REAL ESTATE - Regency Centers Corporation has formed a new open-ended investment fund called Regency Retail Partners, LP. There is a total of $370m(€286m) of equity in the fund now. One of the largest investors in the fund is GIC Real Estat...
