North American Investors News 鈥� Page 232
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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 (鈧�691.6m).
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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 鈥榩olitical鈥� investment, according to analysts at the McKinsey Global Institute, an economics thinktank.
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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 (鈧�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 (鈧�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鈥� Retirement System is carrying out an international REIT manager search.
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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鈥� core real estate, to the tune of $500m (鈧�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.
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US pension funds face slow activity
UNITED STATES 鈥� 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 Employees鈥� Retirement System has approved three new commingled fund investments totaling $50m (鈧�31.5m), in a bid to diversify its non-core holding.
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'Goodnight Europe', as RoW dominates returns ranking
GLOBAL - Europe accounted for only one of the world鈥檚 top five-returning property markets, according to the IPD Global Index launched last week.
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RREEF sees three-year path to US market low
UNITED STATES 鈥� 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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Washington State sinks $1.2bn into real estate and infrastructure
UNITED STATES - Washington State Investment Board is putting $1.2bn (鈧�770.7bn) into a combination of real estate and infrastructure investments, and taking advantage of the need for debt liquidity in the market.
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CalSTRS invests $1bn in real estate in Q1
UNITED STATES - California State Teachers Retirement System approved investments totalling just over $1bn (鈧�642.2m) into real estate for the first quarter of 2008, in a mixture of core and tactical investments.
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Orange County turns away from separate accounts
UNITED STATES - Orange County Employees Retirement System has started the process of investing in commingled real estate funds and moving away from separate accounts.
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New Jersey turns attention to non-core real estate
UNITED STATES - New Jersey Division of Investment has approved $250m (鈧�161.4m) worth of commitments to non-core real estate.
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Pramerica books space at Mexican resort
UNITED STATES - Pramerica Real Estate Investors is expecting to invest as much as $800m (鈧�517m) over several years in a joint venture to develop the second phase of a project along the Sea of Cortez in Mexico, known as CostaBaja Resort & Marina.
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SanFran City & County ups real estate assets by 2%
UNITED STATES - San Francisco City & County Employees鈥� Retirement System has decided to increase its exposure to real estate to 12%.
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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 (鈧�64.6m) to the Rockwood Capital Real Estate Partners VIII fund.
