North American investors – Page 219
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News
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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News
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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News
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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News
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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News
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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News
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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News
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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Magazine
Crisis of confidence
Kevin White and Leonard Mills examine the causes and consequences of the credit crunch kicked off in the US residential property market
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Magazine
Froth from the cappuccino
An analysis of the current global economic crisis was one of the key items on the agenda of this year’s annual AFIRE meet in Washington, DC, writes Kathryn Hamilton
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Magazine
Caution goes to Hollywood
Even a glamorous Beverly Hills setting could not hide a marked change in sentiment at PREA’s autumn conference. Martin Hurst reports
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News
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.
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News
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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News
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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News
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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News
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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News
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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News
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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News
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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News
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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News
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.