Latest Alternatives News – Page 353
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Louisiana Teachers places $125m in “real assets”
UNITED STATES- Teachers’ Retirement System of Louisiana has placed $125m (€80.2m) into new real estate investments, as part of its unique view of real estate investing.
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San Francisco reduces real estate flow by $550m
UNITED STATES - City and County of San Francisco Employees’ Retirement System has reduced significantly the amount of capital it is investing in real estate for the 2008/2009 fiscal year.
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German retail ‘good for long term’
GERMANY - Investors should invest in German retail for the long term, but exercise regional caution in a market characterised for strong demand and limited supply, according to fund manager Cordea Savills.
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Illinois Teachers harvests farming growth
UNITED STATES – The Teachers Retirement System for the State of Illinois has sold its entire agricultural real estate portfolio for $340m (€220.2m) to TIAA-CREF.
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Pennsylvania puts $925m beyond the core
UNITED STATES - Pennsylvania Public School Employees’ Retirement System has approved $925m (€598.8m) into new real estate investments through a variety of non-core commingled funds.
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Waterton moves into hotel
UNITED STATES - Waterton Associates is set to create a hotel investment fund for the first time in the company’s history.
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Austrian property outperforms, despite sector fall
AUSTRIA - Austrian real estate returns outperformed both equities and bonds in 2007, despite a decline in retail – the best performing sector.
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Pirelli punts on Euro-property fund
EUROPE - Pirelli Real Estate is targeting international pension funds with an opportunistic pan-European property fund it plans to launch early next year.
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UK residential ready for institutions
UK - The UK residential market is ready for pension fund investors despite being fragmented and dominated by amateur property managers, according to property firm Nice.
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LaSalle creates hotel JV
UNITED STATES - LaSalle Investment Management and public Reits LaSalle Hotel Properties have formed a $700m (€455.3m) joint venture to invest in US hotels.
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Pennsylvania State commits to senior housing fund
UNITED STATES - Pennsylvania State Employees Retirement System has already approved a $25m (€16.2m) commitment to Senior Housing Partners IV commingled fund.
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TIAA-CREF moves into commingled space
UNITED STATES - TIAA-CREF has created its first commingled fund to be backed by third-party investment capital.
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UK shopping centre investors and developers stall
UK - Investors are holding off from acquisitions in the UK as shopping centre developments stall amid a funding crisis, according to two specialists at property consultancy Savills.
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Pricing and rents repeal increase Poland’s appeal
POLAND - Upward-moving rents and “rational” pricing are boosting the acquisition appeal of Polish property assets, according to James Rushworth, European property director at Standard Life Investments.
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Pramerica creates UK senior housing vehicle
UNITED STATES - Pramerica Real Estate Investors has setup a new co-investment entity to invest in senior housing in the United Kingdom, to sit alongside its PRECO III commingled fund.
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Orange County works on commingled fund manager search
UNITED STATES - Orange County Employees Retirement System is nowworking on a search to hire new commingled fund real estate managers.
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Venture with SWF shows debt still in the black
UK/MIDDLE EAST – An Abu Dhabi sovereign wealth fund (SWF) is to pump £200m (€250m) into London & Stamford via a seven-year joint venture aimed at building a war chest for UK acquisitions.
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Investor interest lifts non-core Rockpoint to $2.5bn
UNITED STATES - Rockpoint Group LLC has attracted $2.51bn (€1.58bn) of equity for its latest commingled fund, Rockpoint Real Estate fund III but says the sum could have been larger on the back of investor demand.
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DRA invests half of its new $1.25bn fund
UNITED STATES - DRA Advisors has already spent around 50% of the $1.25bn (€787.4m) of equity it has just finished for its DRA Growth and Income Fund VI.
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Washington State outshines Oregon’s commitment to Lone Star
UNITED STATES - Washington State Investment Board has approved a commitment of up to $600m (€375.1m) into the Lone Star Fund VI commingled fund.
