Top Stories – Page 1043
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Virginia makes $150m commitment to CIM urban fund
GLOBAL - Virginia Retirement System has approved a $150m (€113.8m) commitment to the CIM VI Urban REIT Fund. Pension fund officials stated that this commitment will be funded over the next four and a half years.
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ING Clarion buys DC area apartment building for €90m
GLOBAL - ING Clarion Partners has paid $118.5m (€90.1m) to acquire the 300-unit Millennium at Metropolitan Park in Arlington, Virginia.
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Westbrook injects pension fund capital into O Twelve
GLOBAL – Westbrook Partners has injected £35m (€41.2m) in capital from its latest global opportunity fund into UK listed real estate company O Twelve Estates.
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JP Morgan acquires its own London offices for more than €1bn
UK – Investment bank JP Morgan has taken ownership of 25 Bank Street in Canary Wharf, which will become its new European headquarters in 2012, and another London office housing its treasury and securities services division for close to £850m (€1.01bn).
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Amplion buys Varma portfolio for Finnish institutions
FINLAND – Amplion Asset Management Oy has acquired a €100m real estate portfolio from Varma Mutual Pension Insurance Company on behalf of a number of Finnish institutional investors.
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Thursday people roundup
GLOBAL – Valad, Asia Property Fund, SEGRO, Henderson Global Investors, Bouwfonds REIM, Urban Land Institute, UBS Global Asset Management, Scottish Widows Investment Partnership
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Thursday people roundup
GLOBAL – Valad, Asia Property Fund, SEGRO, Henderson Global Investors, Bouwfonds REIM, Urban Land Institute, UBS Global Asset Management, Scottish Widows Investment Partnership
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LACERA receives 28 responses to debt manager search
GLOBAL - Los Angeles County Employees Retirement Association has received 28 responses to its search for real estate debt managers.
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Thursday people roundup
GLOBAL – Valad, Asia Property Fund, SEGRO, Henderson Global Investors, Bouwfonds REIM, Urban Land Institute, UBS Global Asset Management, Scottish Widows Investment Partnership
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Less than a third of funds report TER, INREV finds
EUROPE – Less than a third of European non-listed real estate funds report total expense ratios (TER) to their investors, according to industry body INREV.
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CalPERS combines property, infrastructure and forestry in allocation overhaul
UNITED STATES – The California Public Employees’ Retirement System (CalPERS) has placed real estate, infrastructure and forestry in a ‘real’ assets bucket as part of an overhaul of its asset allocation strategy.
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INREV: Positive capital growth returns to continental Europe
EUROPE – The European Association for Investors in Non-listed Real Estate Vehicles (INREV) has measured positive capital growth across the continental European property markets for the first time since 2007.
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South Carolina Employees to establish real estate strategy
GLOBAL - South Carolina Retirement System is planning to establish its first formal real estate investment strategy.
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Thursday people roundup
GLOBAL – Valad, Asia Property Fund, SEGRO, Henderson Global Investors, Bouwfonds REIM, Urban Land Institute, UBS Global Asset Management, Scottish Widows Investment Partnership
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News
Two JPMorgan Asset Management funds in €657m London office deal
UK – JPMorgan Asset Management (JPMAM) has acquired Bishops Square in London for £557m (€657m) for two of its institutional funds, highlighting continued demand for prime real estate in the capital.
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BT Pension Scheme lands Heathrow industrial estates
UK – The BT Pension Scheme has acquired an industrial real estate portfolio near Heathrow airport for £79.25m (€93.8m) from European developer SEGRO.
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Morgan Stanley opportunity fund extends debt lifeline to hotel owner
EUROPE – A global opportunity fund run by Morgan Stanley Real Estate Investing has provided €150m in mezzanine financing to BRE/Hospitality Europe Holding, an owner of a European hotel portfolio.
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HOOPP makes first direct purchase outside Canada
GLOBAL – The Healthcare of Ontario Pension Plan (HOOPP) has made its first direct real estate investment outside Canada by acquiring a 50% stake in the Crown Estate's St James's Gateway development in London.
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AREA Property Partners buys Chicago area hotels for $51m
GLOBAL – AREA Property Partners has closed on its first hotel purchases of the year with the acquisition of three Chicago area properties for $51m (€38.6m).
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Lend Lease provides PGGM with direct infrastructure exposure
EUROPE – Dutch pension fund asset manager PGGM has committed £220m (€262m) in capital to become the principal investor in a joint venture with Lend Lease targeting social infrastructure in the UK.
