Top Stories – Page 1108
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CalPERS invests in ‘master-planned’ residential
UNITED STATES - Newland Communities has made another investment in a residential land for a partnership with the California Public Employees Retirement System.
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Florida plans up to $1.1bn investment in infrastructure and timber
UNITED STATES - Florida State Board of Administration has approved commitments to infrastructure and timber for as much as $1.1bn (€691.6m).
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Gdansk hosts Poland’s first PPP
POLAND - The regeneration of Gdansk shipyards – the iconic launch site of Lech Wałęsa’s anti-Communist Solidarity movement in the early 1980s – is to be Poland’s first full private-public partnership.
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SWFs avoid infrastructure, opt for funds
GLOBAL - Sovereign wealth funds (SWFs) will shy away from direct investment in global infrastructure to avoid allegations of ‘political’ investment, according to analysts at the McKinsey Global Institute, an economics thinktank.
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Property funds target Italian market, investors
ITALY - LaSalle Investment Management last week opened an office in Milan under former Redevco chief acquisitions officer Francesco Coviello.
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Developer bags ABP for European reach
NETHERLANDS - APG, the investment arm of ABP, has acquired a 5.77% shareholding in French shopping centre developer Altarea.
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Capri goes international
UNITED STATES - Capri Capital Partners has expanded its efforts to international real estate with its plans to develop a $2bn (€1.27bn) mixed-use project in Saudi Arabia.
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Virginia places capital in real estate debt securities
UNITED STATES - Virginia Retirement System has created two new investment entities to investing in real estate debt securities.
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Pramerica creates investment platform for India
UNITED STATES - Pramerica Real Estate Investors has created an investment platform for investing in India.
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Starwood Land creates $150m JV
UNITED STATES - Starwood Land Ventures has setup a $150m (€95.3m) joint venture with Riverway Properties to invest in residential land acquisition and new project development in Houston.
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Sacramento County works on international REIT manager search
UNITED STATES - Sacramento County Employees’ Retirement System is carrying out an international REIT manager search.
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SWF to invest $150bn in real estate – DEGI
GLOBAL – Sovereign Wealth Funds (SWF) will increase their property exposure to 15% over the next few years, German real estate company DEGI estimates in an analysis of the market.
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Immofinanz and Immoeast buy parent's property
AUSTRIA – Constantia private bank is giving up its real estate business and selling to its sister firms, Immofinanz and Immoeast, for €440m.
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Investors to raise real estate holdings
EUROPE – A study of European institutional investors reveals one in four expect to increase their allocation to real estate this year, while one in 20 expect to reduce their weighting.
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Landmark move predicted on real estate FoFs
EUROPE –European institutional investors are likely to see a significant growth in more liquid real estate fund-of-funds in the market as a result of demand from investors, Landmark Partners has suggested.
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Sweden sells €4.4bn real estate arm to AP
SWEDEN – The Swedish government has agreed to sell the state-owned real-estate company Vasakronan to AP Fastigheter in a deal valued at SEK 41.1bn (€4.4bn).
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Manchester seeks property agent
UK – The £9.6bn (€12bn) Greater Manchester pension fund is seeking a new property management firm to manage part of its real estate portfolio.
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Maine PERS to double real estate portfolio
UNITED STATES – The $11.1bn (€7bn) Maine Public Employees Retirement System has increased the size of its targeted allocation to real estate from 5% to 10%.
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German fund seeks up to $1bn in US core
UNITED STATES - The Deka Global investment fund is looking to invest in United States’ core real estate, to the tune of $500m (€317.4bn) to $1bn.
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LaSalle raising shows less pensions capital in real estate
UNITED STATES - The recent capital raising by LaSalle Investment Management for its Income & Growth Fund V is further proof that pension funds in the United States are not as keen to move capital into real estate.
