North American Investors News – Page 208
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Texas Teachers earmarks $1.1bn for real estate investment
GLOBAL – The Teacher Retirement System of Texas has approved $1.1bn (€849.5bn) worth of new commitments to real estate.
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Kansas PERS invests $30m in Harrison Street fund
GLOBAL – The Kansas Public Employees Retirement System has approved a $30m (€23.1m) commitment to the Harrison Street Real Estate Partners III commingled fund.
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European occupancy markets dragged down by austerity measures
GLOBAL – While occupier demand is rising in the majority of countries across the globe, austerity measures to reduce fiscal deficits are causing a drag on euro-zone and UK real estate markets, according to the latest global report from the Royal Institute of Chartered Surveyors (RICS).
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Ohio School Employees to invest as much as $125m over next 12 months
GLOBAL – The School Employees Retirement System of Ohio is aiming to invest as much as $125m in real estate over the next 12 months.
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Rothschild makes first investment in New York office market
GLOBAL – Rothschild Realty Managers has made its first-ever investment in the New York office market with a $150m (€116m) investment in RXR Realty.
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Transactions on the rise globally, but down in Asia: JLL
GLOBAL – The volume of global real estate transactions in the first half of this year is almost double that of the same period in 2009, but deals in Asia-Pacific dropped by more than a third between the first and second quarters, according to Jones Lang LaSalle (JLL).
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University of California to invest $300m in REITs
GLOBAL – The University of California Retirement Plan and General Endowment Plan are planning to make a $300m (€238m) investment in REITs.
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CalSTRS to conduct core search in the next 12 months
GLOBAL – The California State Teachers Retirement System (CalSTRS) is planning to send out a Request for Proposal for core managers within the next 12 months.
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Santa Barbara County hires ORG as real estate consultant
GLOBAL – ORG Real Property has won a real-estate consultancy tender from the Santa Barbara County Employees Retirement System that will give the company full investment discretion.
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Global real estate transactions faltering, says RCA
GLOBAL – Preliminary data suggests the growth in global real estate transactions slipped significantly in the second quarter of 2010, as the sovereign debt crisis and fears of a double-dip recession took hold, according to Real Capital Analytics (RCA).
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CalSTRS makes pair of real estate investments in first quarter
GLOBAL – The California State Teachers Retirement System (CalSTRS) has made two real estate investments totaling $215.5m (€177m) during the first quarter, as market transactions slowly increased from historically low levels.
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Mass PRIM issues request for core separate account manager
GLOBAL – Massachusetts Pension Reserves Investment Management (Mass PRIM) has issued a Request for Proposal for a core, separate account real estate manager.
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Wisconsin State Investment Board drops domestic REIT managers
GLOBAL – The Wisconsin State Investment Board has dropped AEW Capital Management and Heitman as domestic REIT managers to adopt a more "global perspective".
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BPF Bouw opens Dutch portfolio to other pension funds
NETHERLANDS – BPF Bouw, the pension fund for Dutch construction workers, will offer other pension funds access to its €4bn domestic real estate portfolio so it can increase its weighting to global property markets.
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CalPERS acquires 12.7% stake in London Gatwick Airport
GLOBAL – The California Public Employees' Retirement System (CalPERS) has acquired a 12.7% stake in London Gatwick Airport from Global Infrastructure Partners (GIP).
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Texas Municipal selects ORG Portfolio as first-ever consultant
UNITED STATES – The Texas Municipal Retirement System has chosen ORG Portfolio Management as its first-ever real estate consultant.
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CalSTRS makes €81m allocation to Thomas Properties Group
UNITED STATES – The California State Teachers Retirement System (CalSTRS) has awarded a $100m (€81.3m) allocation to Thomas Properties Group.
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USS continues to blaze UK acquisition trail
UK – Universities Superannuation Scheme (USS) has continued its 18-month UK real estate spending spree with the purchase of an office building in London's West End for £42m (€50.8m).
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Ohio Police and Fire makes $100m commitment to core commingled fund
US – The Ohio Police and Fire Pension fund has approved a $100m (€84m) allocation to the UBS Trumbull Property fund.
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Mass PRIM fires RREEF as separate account manager
US – The Massachusetts Pension Reserves Investment Management Board has terminated RREEF as one of its separate account managers.
