North American Investors News – Page 207
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Washington State ups real estate allocation
UNITED STATES - Washington State Investment Board has decided to boost its real estate allocation from 12% to 13%.
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Texas Teachers invest in land banking
UNITED STATES - Teacher Retirement System of Texas has approved a commitment of $150m ($101.4m euros) into the Stratford Land Fund III commingled fund, as there is now less appetite for building physical developments.
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Apartments hit most by market shift – Pramerica
UNITED STATES - Pramerica Real Estate Investors is predicting the apartment market will be the most affected of all major property types by the recent changes in the residential housing and credit markets.
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US pensions shift further into structured finance
UNITED STATES – Increased pension fund capital in the United States is expected to flow into structured finance over the coming months, following moves by two schemes to invest in the sector.
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NY State Teachers to pull out of two core funds
UNITED STATES - New York State Teachers Retirement System is thinking of withdrawing $225m (€153m) from two US core open-ended commingled funds.
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CPPIB to make direct bid to airport shareholders
NEW ZEALAND - The CA$120.5bn (€89bn) Canada Pension Plan Investment Board (CPPIB) is to approach Auckland International Airport (AIAL) shareholders directly after the firm called off talks on its bid to acquire a 49% stake.
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DTZ strikes oil with Canada buy
CANADA - As Canadian pension funds continue to invest aggressively in overseas infrastructure, DTZ has announced it is entering the market through the CA$31m (€22.5m) acquisition of property services firm JJ Barnicke.
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Pennsylvania State signs to $1bn Mexico fund
UNITED STATES - Pennsylvania State Employees Retirement System is thinking of making a commitment to a $1bn (€681.3m) Latin America residential fund being launched by Pramerica Real Estate Investors.
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Illinois Teachers widens separate account plans
UNITED STATES - Teachers Retirement System of the State of Illinois is planning a shift in its separate accounts real estate programme when it makes its next manager search.
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Principal study calls end of cap rate compression
UNITED STATES - Principal Real Estate Investors feels that time of the cap rate compression in the United States has run its course, according to a report investigating current real estate market potential.
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LACERA trades property for commingled fund
UNITED STATES - Los Angeles County Employees Retirement Association has sold a shopping centre in Los Angeles and traded it for an investment into a commingled fund with the same real estate manager.
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Pramerica expands into Brazil
UNITED STATES - Pramerica Real Estate Investors has expanded its industrial investment efforts into Brazil for the first time, through a joint venture with Racional Engenharia.
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US pension funds rest sleeping capital in hotels
UNITED STATES - Pension funds are still eyeing hotel properties as a good investment, as San Diego is the latest to shift additional assets into the sector and Principal has made its first purchase for investors.
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CalSTRS sets up retail JV
UNITED STATES - California State Teachers Retirement System has established a new joint venture with Urban Retail Properties Company to invest in retail properties.
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US pension funds make play for value-added apartments
UNITED STATES - Pension funds in the United States are moving some capital into investing in value-added apartments, as renter demand for flats is believed to be on the upswing.
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New Jersey taps into real estate debt pressures
UNITED STATES - New Jersey Division of Investment has agreed to commit $150m (€105.3m) to two commingled funds, to take advantage of the market capital squeeze and structured financing.
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US pension funds place capital into distressed paper
UNITED STATES - Several pension funds in the United States have decided to invest some capital into a distressed debt investment strategy but are choosing to do so through leverage-driven funds.
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PCA 'conflict of interest' forces CalSTRS' shop
UNITED STATES - California State Teachers Retirement System is planning to hire a new real estate consultant for the first time in 10 years.
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US pension fund capital heads back to core
UNITED STATES - Some pension fund capital in the United States is flowing against the tide and being reallocated to a core investment strategy.
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UCAL moves to separate accounts
UNITED STATES - The University of California (UCAL) has moved into the separate account real estate space for the first time signing a relationship with Cornerstone Real Estate Advisers.
