All articles by Jon Peterson – Page 53
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News
Chicago Police pick first real estate consultant
REAL ESTATE - The $3.9bn (€3.1bn) Chicago Policemen’s Annuity & Benefit Fund has selected Cleveland-based Courtland Partners as its first ever real estate consultant. The fund made the decision at its board meeting in June as it ...
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Los Angeles changes real estate allocation
REAL ESTATE - The $9.54bn (euro) Los Angeles City Employees’ Retirement System has changed its targeted real estate allocation. It had a targeted real estate allocation of 7% but has decided to move this allocation to a funding target of 3...
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Principal to invest in New York residential
REAL ESTATE - Principal Real Estate Investors has created a $300m (€239m) joint venture with The Dermot Company to invest in apartments in New York City. The equity in the deal is $100m, with the majority coming from Principal. The pension ...
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Ohio fund approves real estate investment plan
REAL ESTATE - The School Employees Retirement System of Ohio has approved its annual real estate investment plan for fiscal 2007 at its board meeting in late June. One of its new investment strategies for the next 12 months will be to consider inv...
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Hearthstone raises $600m
REAL ESTATE- Heathstone has raised $600m of equity for its latest commingled fund, Hearthstone Housing Partners III. This will be one of the largest single-family investment funds in the country. There will be up to 70% leveraged employed on th...
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Pramerica sets up a joint venture to buy large senior housing complex
US - Pramerica Real Estate Investors (PREI) has put together a joint venture with American Retirement Corporation to acquire the Freedom Village senior housing property in Bradenton, Florida. The total size of the transaction was US$95m (€74...
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Apollo raises US$700m of equity for new commingled fund
US - Apollo Real Estate Advisors has raised US$700m (€546.6m) of equity for its latest commingled fund, Apollo Real Estate Investment Fund V. This is US$200m more than it had originally targeted when the money raising was started. One perso...
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Pension funds surge into US REITs
US – Several large public pension funds are preparing to jump into publicly traded real estate securities (REITs). Industry insiders are predicting that $500m (€422m) of new capital will be invested in REITs by public pension funds ov...
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WP Realty forms new investment fund
US - WP Realty has put together a new investment fund called WP Real Estate Investment Fund IV. There was a total equity raise of US$150m (€117m). One of the largest investors in the fund was BayNorth Capital Partners, which has many institut...
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Ohio Police & Fire joins value-added US fund
US – The Ohio Police & Fire Pension Fund has made a US$20m (€15.6m)commitment to the CB Richard Ellis Strategic Partners IV commingled fund. The investment forms part of Ohio Police & Fire’s high-return investment strate...
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Funds put faith in urban investment
US – Two California-based pension funds have committed capital to an urban investment strategy using commingled funds. The Los Angeles County Employees’ Retirement Association has made a $60m (€47m) investment into UrbanAmerica I...
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Oregon PERF nears decision on global REIT manager
REAL ESTATE- The Oregon Public Employees Retirement Fund is approaching making a final decision on its search for a global REIT manager. The pension fund expects to make a final choice sometime during the late summer to early fall. The pension fu...
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News
Sacramento interviews four real estate managers
REAL ESTATE - The Sacramento County Employees Retirement System is to interview four value-added commingled fund real estate managers for its new manager search. The four commingled funds are AEW Value Investors II, GEAM Value Add Realty Partners,...
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Illinois to invest up to $90m in three funds
REAL ESTATE - The $11bn Illinois State Board of Investment will be investing up to $90m (€71.7m) into three non-core pooled (commingled) funds. The fund will take the action at its board meeting later this month, June 29-30. T...
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Washington State invests $850m in real estate
REAL ESTATE- The Washington State Investment Board has placed $850m (€677m) of new investment capital into real estate in two investments. The fund made an investment of up to $750m into GMS International and a $100m commitment into the Warb...
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Rubenstein raises €378m for new office fund
REAL ESTATE - Rubenstein Partners has attracted a total equity raise of $475 million (€378m) for its commingled fund, Rubenstein Properties Fund, L.P. The investors in the fund were a mixture of corporate pension funds, educational endowment...
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Ex-CalPERS’ McCook joins new firm
REAL ESTATE - Mike McCook, the former senior investment officer for real estate at the California Public Employees Retirement System, has found new employment. He is now co-owner of a company in San Francisco called Kenwood Investments. The other ...
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Wisconsin to invest in non-core assets
REAL ESTATE - The $70.4bn (€54.4bn) Wisconsin State Investment Board is to look at placing some capital into the marketplace this year with a non-core investment strategy. These will be done in a mixture of strategies on both the commingle...
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NY Teachers in €77m Texas retail venture
REAL ESTATE - The New York State Teachers Retirement System has put together a $100m (€77.2m) joint venture with Inland Real Estate Corp. to invest in retail properties in Texas. The fund was the driving force behind the venture as it had a ...
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Pennsylvania to invest in real estate finance firm
REAL ESTATE – The Pennsylvania Public School Employees Retirement System has chosen to invest up to $150m (€116m) into a new real estate finance company being created by Apollo Real Estate Advisors. The name of the new company is Apoll...
