Latest Americas News – Page 175
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Virginia makes $150m commitment to CIM urban fund
GLOBAL - Virginia Retirement System has approved a $150m (€113.8m) commitment to the CIM VI Urban REIT Fund. Pension fund officials stated that this commitment will be funded over the next four and a half years.
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ING Clarion buys DC area apartment building for €90m
GLOBAL - ING Clarion Partners has paid $118.5m (€90.1m) to acquire the 300-unit Millennium at Metropolitan Park in Arlington, Virginia.
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AREA Property Partners buys Chicago area hotels for $51m
GLOBAL – AREA Property Partners has closed on its first hotel purchases of the year with the acquisition of three Chicago area properties for $51m (€38.6m).
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Invesco begins US acquisition trail for German investors
GLOBAL – Invesco Real Estate has made its first acquisitions in the US for German institutional investors in its MEAG US Immobilien Fonds IV.
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Rothschild Realty Managers invests $200m in Welsh Property Trust
GLOBAL – Rothschild Realty Managers has invested $200m (€149.4m) into Welsh Property Trust, made through Rothschild's commingled fund, Five Arrows Realty Securities V.
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Iowa PERS on the lookout for domestic REIT manager
GLOBAL – The Iowa Public Employees Retirement System has approved a request for proposal (RFP) for a new domestic REIT manager, allocating approximately $150m (€113m) for the search.
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Ohio PERS directs capital to local opportunities
UNITED STATES – Ohio Public Employees Retirement System is investing $250m (€187m) in local real estate investment opportunities as part of its so-called Grow Ohio programme.
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GI Partners, RREEF to take over CalPERS logistics
GLOBAL – GI Partners and RREEF are to take over the management of The California Public Employees' Retirement System's (CalPERS) $2.5bn (€1.9bn) global industrial real estate portfolio from incumbent manager LaSalle Investment Management.
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Wisconsin State to ramp up real estate investment to $900m
GLOBAL – The Wisconsin State Investment Board has said it is looking to step up its real estate investment activity.
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Ohio Police & Fire approves $30m commitment to opportunity fund
GLOBAL – The Ohio Police & Fire Pension Fund has approved a $30m (€23.1m) commitment into the Savanna Real Estate Fund II.
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Ohio School Employees makes $30m follow-on commitment with Carlyle Group
GLOBAL – The School Employees Retirement System of Ohio has approved a $30m (€22.5m) commitment into the Carlyle Realty Partners VI commingled fund.
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Santa Barbara County to redeem investment in RREEF America II
GLOBAL – The Santa Barbara County Employees Retirement System has taken its first real estate action since hiring ORG Real Property as its real estate consultant in June.
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Washington State allocates $500m to Evergreen Real Estate Partners
GLOBAL – The Washington State Investment Board has approved a follow-on investment of $500m (€366.1m) into Evergreen Real Estate Partners.
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APG joint venture in €1bn Olympic retail venture
GLOBAL – A joint venture between Dutch pension fund manager APG and the Canada Pension Plan Investment Board (CPPIB) has acquired retail real estate worth £870.5m (€1bn) on the East London 2012 Olympics site.
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Texas Teachers-backed apartment fund makes first investments in two years
GLOBAL – The Camden Multifamily Value Add fund, 80% owned by the Teacher Retirement System of Texas, has closed on its first two apartment deals in more than two years.
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Nebraska moves capital from REITs into private real estate
GLOBAL – Nebraska Investment Council has taken some of its capital invested in REITs and had it cover a portion of its private real estate investment programme.
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ATP Real Estate calls for manager 'early-warning' system
EUROPE – At a panel discussion at this year's INREV CFO/COO conference in Copenhagen, speakers discussed how to balance the need for managers to communicate with investors at a time when they were also being asked to charge less for their services.
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Multi-family sector leading US recovery, says IPD
GLOBAL – The residential sector continues to lead the real estate recovery in the US, with capital values up 12.3% since the start of the year, according to Investment Property Databank (IPD).
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Maryland pension scheme moves in core real estate
GLOBAL – The Maryland State Retirement System is set to add core real estate holdings to its portfolio to give investors an alternative to fixed-income investments.
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San Francisco City and County postpones separate account search
GLOBAL – The San Francisco City and County Employees' Retirement System has decided to withdraw a Request for Qualifications (RFQ) search for a new separate account real estate manager.
