ΒιΆΉΣ³» Alternatives News β Page 372
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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 (β¬1.27bn) mixed-use project in Saudi Arabia.
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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 (β¬95.3m) joint venture with Riverway Properties to invest in residential land acquisition and new project development in Houston.
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US pension funds face slow activity
UNITED STATES β Pension funds have found activity in the buying and selling of real estate is slowing considerably in the United States, as a result of the downturn in prices and sentiment in the property markets.
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Los Angeles City approves non-core commitments
UNITED STATES - Los Angeles City Employeesβ Retirement System has approved three new commingled fund investments totaling $50m (β¬31.5m), in a bid to diversify its non-core holding.
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US-based PE funds struggle after record inflows
UNITED STATES - Investors are abandoning smaller US private equity property funds, and opting instead to commit capital to βmegafundsβ to avoid navigating a saturated market.
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RREEF sees three-year path to US market low
UNITED STATES β RREEF, the real estate investment giant, is predicting the US residential market still has a substantial way to go before reaching its lowest point.
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New Jersey turns attention to non-core real estate
UNITED STATES - New Jersey Division of Investment has approved $250m (β¬161.4m) worth of commitments to non-core real estate.
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BPT beats off Quebec pension fund for Russian assets
RUSSIA - The Baltic Property Trust Group (BPT) has beaten off Russia-hungry rival investors to acquire its latest asset in the market: the first phase of the Country Park business centre in Moscow.
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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 (β¬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 (β¬64.5m) commitment to the Starwood Capital Global Hospitality Fund II.
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Hotels grow β but outside Europe
EUROPE - The hotel sectorβs centre of gravity has lurched away from Europe, according to Martin Armitstead, DTZβS managing director of EMEA hospitality.
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Care and cure βperfect for pension fundsβ
EUROPE - βCare and cureβ property assets are gaining appeal among pension funds because they offer a hedge against the broader economic downturn, according to ING Real Estate fund manager Wietse de Vries.
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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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Retail booms despite βweakβ Russian reputation
RUSSIA - Consumer spending power is driving resurgent growth in Russian retail real estate, according to Swedish fund manager East Capital following the launch of a retail property fund.
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Illinois Teachers targets minority and female managers
UNITED STATES - Teachersβ Retirement System for the State of Illinois has decided to expand its emerging manager program to include real estate for the first time.
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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 PERS sees value of European capital
UNITED STATES - Ohio Public Employees Retirement System (PERS) has made $75m (β¬48.3m) commitments to Carlyle Europe Realty Partners III and Blackstone Real Estate Partners Europe Fund III.
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LACERA moves $50m into pan-Asia fund
UNITED STATES - Los Angeles County Employees Retirement Association had added to its international real estate exposure by committing $50m (β¬32.2m) to the ING Real Estate Asia Value Fund.
