North American Investors News – Page 206
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Ohio PERS expands REIT investment program
UNITED STATES - Ohio Public Employees Retirement System has expanded the Reit investment program of its healthcare fund by 1% to 6%.
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Pennsylvania Public School to invest $641.5m into real estate
UNITED STATES - Pennsylvania Public School Employees’ Retirement System intends to allocate up to $641.5m (€436.1m) in new real estate investments through a variety of commingled funds, in a bid to tap advantages thrown up by the credit crisis.
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CalPERS ups real estate allocation by 2%
UNITED STATES - The California Public Employees’ Retirement System (CalPERS) has increased its allocation to real estate by 2%, to provide around $4bn (€2.88bn) of extra investment into the sector.
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CalSTRS and Waterson seek apartment viewings
UNITED STATES - California State Teachers Retirement System and Waterton Associates have created a new apartment investment fund, to tap into what they anticipate will be a shift in the sector.
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Illinois Teachers allocates office space
UNITED STATES - Teacher Retirement System of the State of Illinois has approved two real estate investments totaling $187.5m (€127.4m) which contribute to the acquisition of office space.
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Courtland arrival firms West Coast division
UNITED STATES - Courtland Partners has hired Lou Canlas as a principal to boost its pension fund real estate consulting operations on the West Coast.
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Concerns raised as returns drive pensions diversity
GLOBAL - The argument for global diversification is becoming more compelling, but institutional investors are often simply investing according to total return expectations, say industry experts.
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Entity level investing attracts more pension fund capital
UNITED STATES – US pension funds are showing increased interest in moving capital to commingled funds that make entity-level investments, as two major funds have invested in funds holding direct property.
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Texas Teachers to grow real estate staff
UNITED STATES - Teacher Retirement System of Texas is looking to grow its real estate staff as it mover closer to its 10% allocation for real estate.
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CalSTRS and ING Clarion set up value-added JV
UNITED STATES - California State Teachers Retirement System and ING Clarion Partners have created a value-added investment joint venture called INGCal Tactical.
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US pensions scrutinise apartments
UNITED STATES - Pension funds in the United States are going to be taking a closer look at placing some capital into apartments as officials believe there will be stronger renter demand for apartments in the near-term.
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Harrison Street pairs up for medical offices
UNITED STATES - Harrison Street Real Estate Capital has formed a joint venture with Montecito Medical Investment Company to buy ownership of medical office buildings.
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CalWest assets reduce to $473m
UNITED STATES - California Public Employees Retirement System (CalPERS) and RREEF are working together at present to manage the real estate assets on the CalWest Industrial Investors LLC, but assets are now substantially lower following an earlier sale of properties.
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Green building ‘will define class A’
UNITED STATES - Tenant demand will eliminate non-green new-build real estate in the US, according to a report published by Prudential US’ subsidiary Pramerica Real Estate Investors.
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Brookfield expansion targets REITs
UNITED STATES - Brookfield Asset Management has moved into the REIT management business with the acquisition of KG Redding.
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NYSTRS turns $525m to non-core investing
UNITED STATES - New York State Teachers Retirement System is looking at investing up to $525m (€356m) in non-core real state through commingled funds and a separate account.
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MacFarlane raises $1bn for urban investment
UNITED STATES - MacFarlane Partners has raised $1bn (€683.6m) for Urban Real Estate Fund II, making this one of the largest urban commingled funds ever to be created in the United States.
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Ohio School Employees places capital into non-core property
UNITED STATES - School Employees Retirement System of Ohio has approved commitments totaling $100m (€67.2m) into two non-core commingled funds, as its investment strategy for 2008 is to ignore the core real estate market.
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Arizona State to take real estate over the border
UNITED STATES - Arizona State Retirement System has decided to open its real estate investment program to the international stage on both the private and public side.
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CalPERS drops RREEF after key staff losses
UNITED STATES – RREEF has lost the contract to manage California Public Employees Retirement System’s CalWest Industrial Investors LLC separate account following the departure of several key officials earlier this year.
