Latest Americas News – Page 79
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Singapore’s OUE exits iconic LA office tower at discount
US Bank Tower sold for US$430m, below last book value of US$650m
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NewsCalSTRS to increase real estate allocation on market volatility
$243bn pension fund ups real estate allocation target from 13% to 14%
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CBRE GI confirms Townsend Building office asset acquisition
IPE Real Assets previously reported that CBRE GI had agreed to buy the 123 Townsend Street and 118 King Street asset for $140m
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PSP Investments posts infra gains amid overall one-year loss
Manager’s C$18.3bn infrastructure portfolio was its best performing investment bucket, posting an 8.7% one-year return
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San Francisco Employees sets $700m real assets pacing plan
Investment plan includes capitalising on real estate opportunities that may arise as a result of the COVID-19 pandemic
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NewsTennessee Consolidated commits $200m to in-house domestic REIT strategy
OKs $200m each to internally managed US REIT portfolio and a Carlyle Group core-plus real estate fund
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KKR core-plus fund invests $260m in US industrial assets
Acquisitions are first industrial assets in KKR’s core-plus real estate strategy
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NYSCRF commits $600m to new Fairfield apartment development fund
Fairfield Create Core Multifamily fund expects to raise $750m with backing from another investor
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Waterton plans $1.25bn fundraise for latest US apartment fund
OCERS approves a $75m commitment to the Waterton Residential Property Venture XIV fund
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SWIB OKs $535m real estate commitments, eyes further $459m
Places $300m into new debt and more than doubles investment in Carson industrial JV
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NewsOhio SERS sets $200m pacing plan for real assets
Ohio SERS will mainly target real estate because it already has close to $350m in unfunded commitments to infrastructure
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US pension funds post 20%-plus write-downs on hotel assets
Mark downs by two institutional investors exceed 4.8% declines reported by NCREIF index
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UTIMCO ups real estate and infrastructure allocations, experiences value declines
Allocations at endowment fund rise from 8% to 10% and from 2% to 4%, respectively
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NYSCRF backs open-ended Black Creek Industrial Fund
Pension fund approves a $200m commitment to the US industrial property fund
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NewsMontana Board places $125m into US property debt funds
Backs Angelo Gordon Commercial Real Estate Debt Opportunities III and Fidelity Real Estate High Income Fund
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QuadReal and LaTerra create Los Angeles multifamily venture
The venture will invest up to $250m to develop and operate multifamily communities in Southern California
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Americas and APAC real estate transactions slide, Europe bucks trend
RCA says multi-billion-euro deals by Blackstone and Aroundtown helped Europe’s transaction volume
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AEW real estate fund attracts capital from IMRF, Ohio Police & Fire
The pension funds add $110m in total to AEW Partners Real Estate Fund IX which raised $185m in April
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Greystar buys Alliance Residential’s property management arm
The Alliance business manages a portfolio of over 500 US multifamily properties
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NewsLos Angeles Water rehires real estate consultant StepStone
Pension fund makes a $75m commitment to the AG Europe Realty Fund III
