Latest Alternatives News – Page 308
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CalSTRS to tread cautious real estate path
UNITED STATES – The California State Teachers Retirement System is planning to take a cautious approach to real estate investment for its fiscal year in 2009.
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US pension funds still interested in value-added real estate
UNITED STATES - Apollo Real Estate Advisors was able to reach its capital raising target for its latest commingled fund, Apollo Value Enhancement Fund VII.
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CalPERS invests in ‘master-planned’ residential
UNITED STATES - Newland Communities has made another investment in a residential land for a partnership with the California Public Employees Retirement System.
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Florida plans up to $1.1bn investment in infrastructure and timber
UNITED STATES - Florida State Board of Administration has approved commitments to infrastructure and timber for as much as $1.1bn (€691.6m).
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Property funds target Italian market, investors
ITALY - LaSalle Investment Management last week opened an office in Milan under former Redevco chief acquisitions officer Francesco Coviello.
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Developer bags ABP for European reach
NETHERLANDS - APG, the investment arm of ABP, has acquired a 5.77% shareholding in French shopping centre developer Altarea.
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Capri goes international
UNITED STATES - Capri Capital Partners has expanded its efforts to international real estate with its plans to develop a $2bn (€1.27bn) mixed-use project in Saudi Arabia.
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Pramerica creates investment platform for India
UNITED STATES - Pramerica Real Estate Investors has created an investment platform for investing in India.
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Starwood Land creates $150m JV
UNITED STATES - Starwood Land Ventures has setup a $150m (€95.3m) joint venture with Riverway Properties to invest in residential land acquisition and new project development in Houston.
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US pension funds face slow activity
UNITED STATES – Pension funds have found activity in the buying and selling of real estate is slowing considerably in the United States, as a result of the downturn in prices and sentiment in the property markets.
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Los Angeles City approves non-core commitments
UNITED STATES - Los Angeles City Employees’ Retirement System has approved three new commingled fund investments totaling $50m (€31.5m), in a bid to diversify its non-core holding.
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US-based PE funds struggle after record inflows
UNITED STATES - Investors are abandoning smaller US private equity property funds, and opting instead to commit capital to “megafunds” to avoid navigating a saturated market.
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RREEF sees three-year path to US market low
UNITED STATES – RREEF, the real estate investment giant, is predicting the US residential market still has a substantial way to go before reaching its lowest point.
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New Jersey turns attention to non-core real estate
UNITED STATES - New Jersey Division of Investment has approved $250m (€161.4m) worth of commitments to non-core real estate.
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BPT beats off Quebec pension fund for Russian assets
RUSSIA - The Baltic Property Trust Group (BPT) has beaten off Russia-hungry rival investors to acquire its latest asset in the market: the first phase of the Country Park business centre in Moscow.
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Maryland sees value in adding to real estate
UNITED STATES - Maryland State Retirement System has signed a deal to invest with a new manager to the fund, by committing $100m (€64.6m) to the Rockwood Capital Real Estate Partners VIII fund.
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LACERA extends its hotel funds holding
UNITED STATES - Los Angeles County Employees Retirement Association has further diversified of its assets into hotel investments, and approved a $100m (€64.5m) commitment to the Starwood Capital Global Hospitality Fund II.
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Hotels grow – but outside Europe
EUROPE - The hotel sector’s centre of gravity has lurched away from Europe, according to Martin Armitstead, DTZ’S managing director of EMEA hospitality.
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Care and cure ‘perfect for pension funds’
EUROPE - ‘Care and cure’ property assets are gaining appeal among pension funds because they offer a hedge against the broader economic downturn, according to ING Real Estate fund manager Wietse de Vries.
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Tricon Capital creates new investment platform
UNITED STATES - Tricon Capital Group has created a new investment platform for the recapitalisation of single-family communities.
