News – Page 1179
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New Jersey commits $300m to Prudential fund
REAL ESTATE - The New Jersey Division of Investment has approved an investment of up to $300m (€235m) into the Prudential Property Investment Separate Account (PRISA). The fund took this action at its board meeting on September 21, assisted ...
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Nieuwe Steen divests residential portfolio
NETHERLANDS – Dutch real estate fund Nieuwe Steen Investments (NSI) will sell its entire residential housing portfolio worth €134m.
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Orange County commits $60m
REAL ESTATE - The Orange County Employees Retirement System has approved commitments of $60m into two real estate commingled funds. The pension fund chose to allocate $30m each to AEW Value Investors II, L.P. and Fidelity Real Estate Growth Fund I...
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CalPERS’ green fund makes first investment
REAL ESTATE - The California Public Employees Retirement System (CalPERS) has acquired a controlling interest in the first investment of its sustainable real estate fund. The Green Development fund, a joint venture with real estate firm Hines, fo...
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Mars pension fund sells town centre portfolio
REAL ESTATE - The Mars pension fund has sold a hefty retail portfolio in England’s northeast to Halladale for £15.25m (€22.5m). The portfolio comprises much of a town centre in Cleveland, Teesside. Halladale, which is backed...
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Row erupts over Belgian REIT plan
REAL ESTATE – A row has erupted over the Belgian state’s plans for a €1.2bn real estate investment trust. AXA last week filed suit against the state over the government’s recent selection of Cofinimmo as partner in a sicaf...
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Alaska Permanent approves new strategy
REAL ESTATE - The Alaska Permanent Fund Corp. has approved a new real estate strategy to invest less in public real estate and allow a value-added component. The pension fund made these changes as part of real estate resolution 06-07 at its board ...
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CalPERS to invest $100m into commingled fund
REAL ESTATE - The California Public Employees Retirement System has approved a $100m commitment into the Page Mill Properties II commingled fund. The pension fund made this commitment as part of its opportunistic real estate investment strategy. ...
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Canada’s La Caisse takes Brazil real estate stake
REAL ESTATE - A real estate subsidiary of Caisse de dépôt et placement du Québec, Canada’s largest pension fund, has acquired an undisclosed stake in Brazilian retail management firm Ancar. La Caisse’s Ivanhoe Cambridge...
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Belgium sells off military real estate
REAL ESTATE – The Belgian government is planning to sell off an “important” piece of its defence real estate – a plot of land containing officer accommodation. The Ministry of Defence’s Central Service for Social an...
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New Asian unlisted real estate forum unveiled
REAL ESTATE - A new Asian real estate investors’ forum will be unveiled this week at the MIPIM Asia event in Hong Kong. The Asian Real Estate Association (AREA) is being formed to bring together investors, managers of privately held real es...
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Illinois State commits to urban fund
REAL ESTATE - The Illinois State Board of Investment has approved a $30m commitment to the MacFarlane Urban Real Estate Fund II, L.P. The fund took this action at its board meeting in mid September. It was assisted in its real estate decision by ...
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Norway state fund rejects real estate before 2007
REAL ESTATE - The Norwegian finance ministry says moving into real estate “just isn’t a priority” for the Government Pension Fund, despite reports of an imminent 8-10% allocation. A spokeswoman for Norges Bank Investment Manageme...
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Chicago school fund eyes international
REAL ESTATE – The $10.9bn (€8.5bn) Public School Teachers' Pension and Retirement Fund of Chicago is considering amending its real estate exposure, according to fund documents. At its last trustee meeting on August 17 executive directo...
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Value-added theme in ING REIM funds launch
REAL ESTATE - ING Real Estate Investment Management has launched five new property funds with a total value of €4.25bn. The new offering comprises a central and East European fund of €1bn, a Nordic property fund of €1bn, a French...
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Idaho fund in $18m Arizona purchase
REAL ESTATE – The $9.9bn (€7.75bn) Public Employee Retirement System of Idaho, or PERSI, was last week involved in the $18m purchase of an office building in Scottsdale, Arizona following the vendor’s liquidation. PERSI and the C...
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IVG ups Oppenheim real estate stake
REAL ESTATE – German real estate specialist IVG Immobilien plans to acquire nearly all of Oppenheim Immobilien-Kapitalanlagegesellschaft (OIK), Germany’s leading provider of real estate funds for institutional investors. IVG said that ...
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Texas Teachers makes real estate moves
REAL ESTATE - The Teacher Retirement System of Texas made some real estate moves at its board meeting in the middle of September. The fund has approved an investment of up to $100m into the Capmark Structured Real Estate Partners commingled fund. ...
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USS in central Europe real estate move
REAL ESTATE – The £26bn (€38.5bn) Universities Superannuation Scheme, the pension fund for university staff, has made a move to increase it central European real estate holdings. First Property Group, which manages regional real e...
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LA County earmarks $600m for separate account
REAL ESTATE - The Los Angeles County Employees Retirement Association has chosen an initial commitment of $600m as it establishes a new way to allocate capital for its separate account real estate managers. The allocation will be split into three ...
