Â鶹ӳ» Alternatives News – Page 354
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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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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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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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Invesco begins US acquisition trail for German investors
GLOBAL – Invesco Real Estate has made its first acquisitions in the US for German institutional investors in its MEAG US Immobilien Fonds IV.
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PGGM commits €57m to Chinese real estate joint venture
GLOBAL – A joint venture between UBS Global Asset Management and Gemdale Corporation has completed a second successful closing after Dutch investor PGGM agreed to commit as much as $75m (€56.6m) to Chinese real estate.
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F&C REIT raises €240m for German retail acquisitions
GERMANY – F&C REIT Asset Management in Germany is looking to invest as much as €240m in German retail properties having raised capital for a new real estate fund and a segregated account with a German pension fund.
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USS adds Savoy House to burgeoning UK portfolio
UK – The Universities Superannuation Scheme (USS) has resumed its acquisition programme in the UK with the purchase of Savoy Court in the West End of London for £45.5m (€53.9m).
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PKA acquires €79m office, retail project in Copenhagen
DENMARK – Denmark's PKA has bought an office and retail construction project in the country's capital for DKK588m (€79m), with provisional leases already secured for around a quarter of units.
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APG joint venture in €1bn Olympic retail venture
GLOBAL – A joint venture between Dutch pension fund manager APG and the Canada Pension Plan Investment Board (CPPIB) has acquired retail real estate worth £870.5m (€1bn) on the East London 2012 Olympics site.
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Texas Teachers-backed apartment fund makes first investments in two years
GLOBAL – The Camden Multifamily Value Add fund, 80% owned by the Teacher Retirement System of Texas, has closed on its first two apartment deals in more than two years.
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Funds of funds require more transparency on fees, says INREV
GLOBAL – Managers of funds of funds require greater transparency on fees from the funds in which they invest, according to Lonneke Löwik, INREV's director of research and market information.
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Blended real estate portfolios perform best, says NAREIT
GLOBAL – A blended real estate portfolio that combines REITs and private equity real estate with core holdings outperformed portfolios that contained either REITs or private equity real estate funds alone, according to a study by the National Association of Real Estate Investment Trusts (NAREIT).
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ÆRIUM targets France for first opportunistic strategy
FRANCE – ÆRIUM is seeking to raise €50-60m in third-party equity to invest in prime retail real estate opportunities in France.
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US apartment market in early period of recovery, says Pramerica
GLOBAL – The US apartment market is in the early parts of a recovery, according to Pramerica Real Estate Investors.
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UK real estate values to fall in 2011, offset by income returns, says Invista
UK – The recovery in capital values in the UK real estate market slowed to a crawl in October and is expected to see a reversal in fortunes over 2011.
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Texas Employees commits $60m to value-added fund
GLOBAL – The Employees Retirement System of Texas has made a $60m (€43m) commitment to the Madison International Real Estate Liquidity Fund IV.
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VastNed Retail builds up Turkish portfolio to €90m
TURKEY – Pan-European retail property fund VastNed Retail has acquired its seventh prime high street shop in the heart of Istanbul, taking its total investment in Turkey to €90m.
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Pradera begins raising capital for UK retail park 'club fund'
UK – Pradera UK has secured £75m (€85.6m) from a European pension fund to invest in UK retail parks and is hoping to raise a further £175m from several other investors currently undertaking due diligence.
