All articles by Jon Peterson – Page 55
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News
Principal sets up retail joint venture
REAL ESTATE- Principal Real Estate Investors has put together a new joint venture to invest in retail properties in the Southeast region in the US. The real estate manager will be investing along with its partner, Charlotte, North Carolina-based G...
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Ohio fund commits to mezzanine
REAL ESTATE- The School Employees Retirement System of Ohio has made a $30m (€24.9m) investment into the Fillmore East Fund. This decision was made by the pension fund at its board meeting in the middle of March. This investment falls in li...
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Oregon looks at new opportunity funds, REITS
REAL ESTATE- The Oregon Public Employees Retirement Fund has allocated $225m to invest in two opportunity funds and will be pursuing a global REIT strategy later this year. The fund has approved a $100m investment into the IL&FS India Realty F...
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PREA meeting: let’s talk emerging markets
REAL ESTATE - Emerging markets was the talk of the town at the Pension Real Estate Association Conference in San Francisco on March 8 and 9. This idea was spelled out to all of the 480 attendees at the conference on countless occasions. One of the…
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New Jersey to invest $1.6bn in two years
REAL ESTATE - The New Jersey Division of Investment has allocated $1.6bn (€1.3bn) to be invested in real estate over the next two years – that’s $675m in fiscal 2006 and $900m in the next year. This allocation comes from an alloc...
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NY teachers back Penwood fund
REAL ESTATE - Penwood Real Estate Management has attracted $100m (€84m) in equity for its first commingled fund called California Select Industrial Partners. The capital came from two public pension funds contributing $50m each: one of these...
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Louisiana Teachers’ €600m move
REAL ESTATE – The Teachers’ Retirement System of Louisiana has allocated a total $600m (€503m) to three open-ended core commingled fund real estate managers. Each of these managers will receive a $200m commitment. They are Pramer...
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Townsend gets larger role at Ohio fund
REAL ESTATE - The $10.6bn Ohio Police & Fire Pension Fund has decided to let its real estate consultant, Cleveland-based the Townsend Group, to work with its separate account real estate managers. In the past, the pension fund had its senior r...
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CalSTRS to expand apartment venture
REAL ESTATE – The California State Teachers Retirement System has expanded an existing joint venture with BlackRock Realty to invest in apartments that will have a total capitalization of $1.2bn (€1bn). There is a total of $420m of equ...
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San Bernardino in new allocation
REAL ESTATE – California’s San Bernardino County Employees Retirement Association has awarded separate account manager American Realty Advisors a new $25m allocation and approved a new value-added strategy. The real estate manager has ...
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Alaska fund to buy into Simpson Housing
REAL ESTATE - The Alaska Permanent Fund Corporation is to acquire a 50% interest in Simpson Housing Corporation which is currently held by the State of Michigan Retirement System. The transaction is set to close by the end of March. The size of ...
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CalPERS to build industrials in Europe
REAL ESTATE - The California Public Employees Retirement System (CalPERS) is to invest between $200 million and $400m in a joint venture to develop industrial properties in Europe. Portfolio manager Jose McNeill said: "We think that this ki...
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CalSTRS creates value-added apartment fund
REAL ESTATE - The California State Teachers Retirement System has established a $1bn apartment fund to invest in value-added transactions. The Waterton Residential Property Fund IX will be run through Chicago-based Waterton Associates LLC. There...
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RREEF and NexCore in medical venture
REAL ESTATE - RREEF and NexCore Group have created a joint venture to invest $500 million in medical office buildings. A specific equity allocation for the venture has not been decided. The relationship will be handled on a deal-by-deal basis. De...
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CalSTRS goes big on Beacon office fund
REAL ESTATE - The California State Teachers Retirement System (CalSTERS) has made a $350m commitment to the Beacon Capital Strategic Partners IV fund. The pension fund regards this commitment as a follow-up investment. It has invested in two prev...
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JP Morgan creates new development fund
REAL ESTATE – JP Morgan Fleming Asset Management has put together a new investment fund called Excelsior II and attracted $450m of institutional capital for it. The money came from three large public pension funds, one of which was the New ...
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A real estate new fund manager is born
REAL ESTATE - A new real estate investment manager has been created - Quadrant Real Estate Advisors. This company has two parents, both Australian-based. The Mirvac Group is one while former senior executives of GMAC Institutional Advisors compris...
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Pennsylvania Public School Employees in $300m move
REAL ESTATE - The Pennsylvania Public School Employees Retirement System has decided to invest $300m (€250.8m) into two new commingled funds. The fund has made a $200m commitment to the ProLogis North American Industrial Fund (a real est...
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Oregon pension fund makes real estate moves
REAL ESTATE - The Oregon Public Employees' Retirement Fund made two real estate moves at its recent board meeting. It invested $150m into the Keystone Industrial Fund and established a value-added category for its real estate investment program. ...
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Bank of New York buys Urdang
REAL ESTATE - Urdang Capital Management has signed a definitive agreement to be acquired by The Bank of New York. Urdang is a Pennsylvania-based real estate investment management firm. The transaction is set to close by either the end of Febru...
