North American Investors News – Page 207
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CalPERS takes social action to protect rent rates for lower-income households
UNITED STATES – The California Public Employees’ Retirement System (CalPERS) is seeking to prohibit excessive rent increases and involuntary displacement of low-income households in its US multi-family residential investments.
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Nebraska to tap discounted real estate secondary market
UNITED STATES - Nebraska Investment Council has approved a $40m (€29.4m) investment into the Landmark Real Estate Partners VI commingled fund.
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Oklahoma Teachers to make core first play in real estate
UNITED STATES - Teachers’ Retirement System of Oklahoma will make an investment in core open-ended commingled funds as its first ever move into real estate.
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US and European investors reveal different gearing interests
GLOBAL – Appetite for gearing levels in real estate funds has diverged between European institutional investors and those based in the US, according to a multi-manager.
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Rothschild Realty sees fresh prospects for US housing
UNITED STATES - Rothschild Realty Managers has made a $100m (€74.9m) equity investment with Summit Housing Partners based in Montgomery, Alabama, on the back of renewed confidence in the housing market.
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Chicago Policemen eye non-core opportunities
UNITED STATES – The Policemen’s Annuity and Benefit Fund of Chicago has issued a Request for Proposal for non-core real estate managers.
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Santa Barbara County opens separate account search
UNITED STATES - Santa Barbara County Employees Retirement System has approved a Request for Information to hire a discretionary separate account real estate manager.
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Illinois State to boost real estate holdings by $300m
UNITED STATES - Illinois State Board of Investment has approved plans to invest $300m (€223.1m) in real estate in 2010.
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Pennsylvania Public School increases allocation to real estate
UNITED STATES - Pennsylvania Public School Employees’ Retirement System has decided to increase its targeted allocation for real estate from 8% to 10.5%. Most of the increase will be funded by the elimination of the pension fund’s 1.5% allocation to public REITs. Pennsylvania Public School ...
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BRIC-built recovery expected - JLL
GLOBAL – The BRIC countries will lead the global real estate market recovery as their economic expansion boosts occupier demand across all sectors and cross-border investment returns, according to Jones Lang LaSalle (JLL).
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CalPERS to invest $1.3bn in infrastructure in 2010
UNITED STATES - California Public Employees Retirement System wants to invest as much as $1.3bn (€961.5bn) in infrastructure during 2010.
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Texas Teachers seeks growth in agriculture
UNITED STATES - Teacher Retirement System has made its first ever investment in agriculture with a $250m (€145.9m) commitment into the AG Real Value Fund, managed by Teay’s River Investments.
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Arizona Public Safety takes opportunistic strategy in real estate
UNITED STATES - Arizona Public Safety Retirement System intends to make at least two more real estate commitments to commingled funds by investing through a US opportunistic strategy in 2010.
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German pension funds find a way to tap core US real estate
US/GERMANY – Invesco Real Estate has raised $120m (€87m) from four German institutional investors to invest in core US real estate.
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Ohio PERS to invest $1.6bn in real estate
UNITED STATES - Ohio Public Employees Retirement System will allocate $1.6bn (€1.2bn) in real estate this year and will be targeting stable assets as well as motivated sellers in particular.
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NYSTRS signs CMBS managers to new contracts
UNITED STATES – The New York State Teachers Retirement System has signed new contracts with BlackRock Financial Management and ING Clarion Capital to manage commercial mortgage_backed securities (CMBS) investments.
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Washington State creates its own real estate benchmark
UNITED STATES - Washington State Investment Board has dropped the NCREIF Property Index as the return benchmark it applied to its real estate portfolio.
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Indiana PERF sees potential in real estate debt
UNITED STATES - Indiana Public Employees’ Retirement Fund has approved two investments in real estate debt totalling $230m (€169.9m).
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CalSTRS loses $83m as Fairfield moves to Chapter 11
UNITED STATES- California State Teachers Retirement System (CalSTRS) has taken an $82.9m (€61.2m) hit in its real estate portfolio as one of its investments, Fairfield Residential LLC, has filed for Chapter 11 bankruptcy protection.
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Kansas PERS turns attention to core real estate
UNITED STATES - Kansas Public Employees Retirement System has made a $100m (€73.5m) allocation to the LaSalle core commingled US Property Fund.
