News – Page 1181
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LA Water dips toe into real estate
REAL ESTATE – The $11.1bn (€8.6bn) Los Angeles Water and Power Employees’ Retirement Plan has approved its first two investments in real estate. These will be in two open-ended core commingled funds. It has made $50m commitments ...
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Finnish pension funds cautious on REITs reform
REAL ESTATE - The Finnish Pension Alliance (TELA) has criticised government proposals on real estate investment for failing to remove tax obstacles that will discourage pension funds and other investors from investing in REIT-style structures. At...
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San Bernardino County makes its move
REAL ESTATE – The San Bernardino County Employees Retirement Association took on several real estate items at its board meeting in early August. The most significant of the actions was to change the overall mix of its real estate portfolio...
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Pramerica plans $1bn office development
REAL ESTATE- Pramerica Real Estate Investors and SJP Properties have setup a joint venture to develop the $1bn (€770m) 11 Times Square office project on Times Square in New York. Pramerica will be the main equity source for the development a...
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Insight floats real estate under Ross Goobey
REAL ESTATE - Insight Investment plans to raise £100m (€148m) in new capital when it floats its real estate fund management business, Invista, on the junior AIM market this month. Former Hermes pensions chief executive Alistair Ross G...
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American Realty raises $200m for new fund
REAL ESTATE- American Realty Advisors has attracted equity commitments totaling $200m (€155m) for its latest close-ended commingled fund, Building for America III. The real estate manager thinks that a factor in the investor interest was its...
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CalPERS commits extra $300m
REAL ESTATE- The California Public Employees Retirement System has recently committed $300m (€233m) to three real estate investments. One of the investments was a $100m commitment to the PRECO III. This is a closed-ended commingled fund tha...
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Ex-Hewitt consultant takes real estate role
REAL ESTATE - Dick van den Oever, a former senior consultant at consulting firm Hewitt Associates in Amsterdam, has taken on a role at Dutch real estate firm Berckheijde. He’s taken over the operational management and a part of the shares of...
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Pennsylvania to invest in structured finance
REAL ESTATE – The $30bn (€23.3bn) Pennsylvania State Employees Retirement System will be looking at investing capital into three structured finance commingled funds at in next board meeting on September 13. One of the commitments will ...
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AP3 hindered by lack of real estate advisor
REAL ESTATE - Six months after it first announced it was to re-allocate half its real estate into global markets, Swedish buffer fund AP3 is reporting falling returns for the asset class because it has yet to appoint an adviser to manage the shift. ...
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AIM faces competition for property listings
REAL ESTATE - Two IPOs announced last week suggest that AIM, the London Stock Exchange’s junior bourse, is losing its near-exclusive power to attract global real estate companies. Kenmore European Industrial Fund announced that it is to lis...
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Dutch institutional real estate reaches €29bn
REAL ESTATE - Dutch institutions’ investment in the real estate sector have surged to €29bn, according to De Nederlandsche Bank (DNB).
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Texas Teachers commit $175m
REAL ESTATE - The Teachers Retirement System of Texas has approved investments totaling $175m into two commingled funds. One of the investments was a $125m commitment to the Stockbridge Real Estate Fund II, L.P. The other was a $50m investment in...
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Deka keeps mum on €1bn property sale reports
REAL ESTATE – DekaBank, a German provider of open-ended property funds, has declined to comment on a news report that its core German fund will soon sell 50 properties for €1bn to either Whitehall, a Goldman Sachs venture or Cerebus, a US...
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Illinois State to invest in hotel fund
REAL ESTATE - The Illinois State Board of Investment has decided to allocate $30m to the RLJ Lodging Fund II – the scheme’s first investment in hotels in several years. Joy Winterfield, portfolio manager for real estate said: “W...
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Clayton joins Pension Real Estate Association
REAL ESTATE – The Pension Real Estate Association has named James Clayton as its new Director of Research as of September 1. He takes over from Jack Nowakowski to support the educational goals of the association as well as undertake direct...
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ABP affiliate buys San Francisco office block
REAL ESTATE – A real estate firm co-owned by Dutch pension fund ABP and State Street has bought an office block in San Francisco. The Tuckerman Group, part of ABP and the Boston bank’s State Street Global Alliance, said its Redevelopme...
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Nottinghamshire scheme makes real estate buy
REAL ESTATE – The £1.6bn (€2.6bn) Nottinghamshire County Council Pension Fund has bought an office building in the southern English town of Sutton for £13.33m. The 55,000 sq ft Chancery House was sold by property investment a...
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Judge rules in Ontario real estate transfer case
REAL ESTATE – Elements of a suit first brought two years ago against the Ontario Municipal Employees Retirement System (OMERS) over the 2002 transfer of its real estate fund management business to infrastructure subsidiary Borealis have been al...
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CalPERS board candidate backs real estate
REAL ESTATE – Howard Schwartz, one of the candidates vying for a seat on the California Public Employees’ Retirement Scheme’s board, has come out strongly in favour of US real estate Schwartz, a CalPERS lawyer, told IPE Real Esta...
