North American Investors News – Page 213
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Maryland sees value in adding to real estate
UNITED STATES - Maryland State Retirement System has signed a deal to invest with a new manager to the fund, by committing $100m (€64.6m) to the Rockwood Capital Real Estate Partners VIII fund.
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LACERA extends its hotel funds holding
UNITED STATES - Los Angeles County Employees Retirement Association has further diversified of its assets into hotel investments, and approved a $100m (€64.5m) commitment to the Starwood Capital Global Hospitality Fund II.
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CalPERS-backed real estate entity files Chapter 11
UNITED STATES - LandSource Communities Development LLC, a US land investment entity backed by California Public Employees Retirement System, the largest pension fund in the United States, has filed for Chapter 11 bankruptcy protection.
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Thomas Properties and UBS sign office contract
UNITED STATES - Thomas Properties Group has created a new office building acquisitions joint venture with UBS Wealth Management to purchase assets in selected markets across the United States.
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Tricon Capital creates new investment platform
UNITED STATES - Tricon Capital Group has created a new investment platform for the recapitalisation of single-family communities.
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State of Wisconsin makes hotel reservations
UNITED STATES - Wisconsin State Investment Board is planning to invest into hotels for the first time.
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Ohio Police & Fire commits to high return fund
UNITED STATES - Ohio Police & Fire Pension Fund is continuing its high return commingled fund investing strategy by making a $25m (€16.2m) commitment to the Walton Street Real Estate Fund VI.
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Investors pull back from emerging markets
GLOBAL - Investors are pulling back from emerging markets as the credit crunch dents both global transaction volumes and occupancy.
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Vietnam gains ground in global rent rise
VIETNAM - Ho Chi Minh City has seen the world’s fastest office rent rises in the 12 months to March, with occupancy costs rising 94%, according to CBRE’s Global Market Rents survey.
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Illinois Municipal sees value in adding funds
UNITED STATES - Illinois Municipal Retirement Fund is moving $150m (€95.1m) of assets into value-added commingled funds.
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ING Clarion sees guarded US investors
UNITED STATES- ING Clarion Partners believes any pension funds in the United States are going to be taking a very cautious approach to investing in real estate this year.
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New York Common looks at urban space
UNITED STATES - New York Common Retirement Fund has made a $285m (€182.1m) commitment to the JP Morgan Star Lake Fund I, which invests in urban real estate across the major US metropolitan markets.
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Illinois Teachers harvests farming growth
UNITED STATES – The Teachers Retirement System for the State of Illinois has sold its entire agricultural real estate portfolio for $340m (€220.2m) to TIAA-CREF.
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LaSalle rides the Mexican real estate bull
UNITED STATES - LaSalle Investment Management believes Mexico as a country has strong real estate fundamentals for future investment possibilities as middle-class demand is creating new commercial projects.
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Pennsylvania puts $925m beyond the core
UNITED STATES - Pennsylvania Public School Employees’ Retirement System has approved $925m (€598.8m) into new real estate investments through a variety of non-core commingled funds.
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Waterton moves into hotel
UNITED STATES - Waterton Associates is set to create a hotel investment fund for the first time in the company’s history.
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LA Fire and Police survey property risks
UNITED STATES - Los Angeles Fire and Police Pensions are considering investing as much as $300m (€194.1m) in real estate this year as part of its 2008 investment plan.
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LaSalle creates hotel JV
UNITED STATES - LaSalle Investment Management and public Reits LaSalle Hotel Properties have formed a $700m (€455.3m) joint venture to invest in US hotels.
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Pennsylvania State commits to senior housing fund
UNITED STATES - Pennsylvania State Employees Retirement System has already approved a $25m (€16.2m) commitment to Senior Housing Partners IV commingled fund.
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TIAA-CREF moves into commingled space
UNITED STATES - TIAA-CREF has created its first commingled fund to be backed by third-party investment capital.
