All articles by Jon Peterson – Page 52
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News
Pennsylvania to invest in structured finance
REAL ESTATE – The $30bn (€23.3bn) Pennsylvania State Employees Retirement System will be looking at investing capital into three structured finance commingled funds at in next board meeting on September 13. One of the commitments will ...
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San Bernardino County makes its move
REAL ESTATE – The San Bernardino County Employees Retirement Association took on several real estate items at its board meeting in early August. The most significant of the actions was to change the overall mix of its real estate portfolio...
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CalPERS commits extra $300m
REAL ESTATE- The California Public Employees Retirement System has recently committed $300m (€233m) to three real estate investments. One of the investments was a $100m commitment to the PRECO III. This is a closed-ended commingled fund tha...
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American Realty raises $200m for new fund
REAL ESTATE- American Realty Advisors has attracted equity commitments totaling $200m (€155m) for its latest close-ended commingled fund, Building for America III. The real estate manager thinks that a factor in the investor interest was its...
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Pramerica plans $1bn office development
REAL ESTATE- Pramerica Real Estate Investors and SJP Properties have setup a joint venture to develop the $1bn (€770m) 11 Times Square office project on Times Square in New York. Pramerica will be the main equity source for the development a...
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Illinois State to invest in hotel fund
REAL ESTATE - The Illinois State Board of Investment has decided to allocate $30m to the RLJ Lodging Fund II – the scheme’s first investment in hotels in several years. Joy Winterfield, portfolio manager for real estate said: “W...
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Sacramento to invest $75m into three funds
REAL ESTATE - The Sacramento County Employees Retirement System has chosen three real estate fund managers for its value-added commingled fund manager search. The pension fund has selected Hines US Office Value Added Fund II, AEW Value Investors I...
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Texas Teachers commit $175m
REAL ESTATE - The Teachers Retirement System of Texas has approved investments totaling $175m into two commingled funds. One of the investments was a $125m commitment to the Stockbridge Real Estate Fund II, L.P. The other was a $50m investment in...
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LA County expands investment scope
REAL ESTATE – The Los Angeles County Employees Retirement Association has decided to increase the investment capabilities of one of its separate account real estate managers, Cornerstone Real Estate Advisers. The pension fund has decided to ...
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LA Fire & Police to invest in commingled
REAL ESTATE – The Los Angeles Fire & Police Pension System has approved an investment in a commingled fund and signed off on some emerging manager guidelines. The pension fund has committed to invest $25m into the ABR Chesapeake Fund III...
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New York teachers invest $105m
REAL ESTATE - New York State Teachers Retirement System has approved investments up to $105m (€81m) in two commingled funds. These actions were taken by the pension fund at its board meeting at the end of July. One of the investments was a...
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Pennsylvania schools in REIT move
REAL ESTATE – The Pennsylvania Public School Employees Retirement System has allocated capital to three new REIT managers and made a commitment to a new office building investment fund. One of the new REIT managers was hired for a non-US pub...
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Ohio Police & Fire to invest in two funds
REAL ESTATE - The $10.8bn (€8.4bn) Ohio Police & Fire Pension Fund has approved investments totaling $200m into two core open-ended commingled funds. Both the Strategic Property Fund and Pramerica Real Estate Separate Account (PRISA) w...
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News
Illinois Teachers eye hotels, international
REAL ESTATE - The $36.8bn (€28.9bn) Teachers’ Retirement System of the State of Illinois has approved an investment into a hotel acquisition fund and will be looking to expand into international real estate investments possibly later thi...
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State of Maryland hires global REIT manager
REAL ESTATE - The $34.4bn Maryland State Retirement System has selected Morgan Stanley as its global REIT manager. The pension fund took this action at its board meeting towards the end of July. The fund has awarded an allocation of up to $15...
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Oregon buys California complex
REAL ESTATE - The Oregon Public Employees Retirement Fund has bought a 232-unit apartment complex in California for $36.7m (€28.5m). It’s bought Redwood Creek Apartments in Rohnert Park via its real estate manager, General Investment a...
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News
CalPERS backs hotel, urban funds
REAL ESTATE – The California Public Employees Retirement System has recently invested capital into hospitality and urban investment funds. One of the investments was a $200m commitment into the TGP Hospitality Investments IV, L.P. CalPERS e...
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CalSTRS to invest $600m in two ventures
REAL ESTATE – The California State Teachers Retirement System has established two joint ventures where it will be investing initially $600m. One of the ventures is being called FirstCal 3, LLC. This is a deal with First Industrial Realty Tr...
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News
New Jersey commits $350m
REAL ESTATE - The New Jersey State Investment Council has approved investments into four new commingled funds that amounts to $350m of capital. There were two commitments made of $100m into the TA Associates Realty Fund VIII and the Warburg Pincus...
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Oregon in talks on new GID commingled fund
REAL ESTATE - General Investment & Development (GID) is getting prepared to close the money raising portion of its latest commingled fund, Windsor Realty Fund VII. The total amount of capital that would be raised is in the neighborhood of $170m.
