Real Estate news 鈥� Page 751
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Mass PRIM plants natural resources RFP
UNITED STATES - Massachusetts Pension Reserves Investment Management Board has issued a Request for Proposal (RFP) for a global natural resources investment mandate worth $900m (鈧�570.6m).
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Pennsylvania eyes opportunities in $461m placement
UNITED STATES - Pennsylvania Public School Employees Retirement System has approved new real estate commitments totaling $461.5m (鈧�293.5m) in the opportunistic sector.
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ING shuffles European managers for healthcare launch
NETHERLANDS - ING Real Estate Investment Management (ING REIM) has shuffled its European management team ahead of the launch of the firm鈥檚 first healthcare property fund.
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CalSTRS buys into opportunistic projects
UNITED STATES - California State Teachers Retirement System has grown its opportunistic real estate portfolio by $154m (鈧�100.2m) through two new commitments, including one to a new development project in Washington DC.
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Chicago Police eyes more real estate
UNITED STATES - Chicago Policemen鈥檚 Annuity and Benefit Fund has increased its allocation to real estate from 5% to 7%.
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New player to enter 'B-Class' real estate
UNITED STATES - Former principals of Somera Capital Management have created a new player in the real estate manager market called Pacific Retail Capital Partners
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ING Clarion pays $116.2m for apartments
UNITED STATES - ING Clarion Partners has closed one of the largest single apartment investments in some time and purchased a 217-unit in Hoboken, New Jersey, for $116.2m (鈧�75.5m).
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Principal creates California JV
UNITED STATES - Principal Real Estate Investors has created a new joint venture with The Martin Group to invest in Californian real estate.
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Fortis forms car pool with Vinci
EUROPE - Insurer Fortis is in exclusive talks with French firm Vinci to pool the firms鈥� European carpark assets in a joint venture.
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K氓pan eyes more real estate after poor year
SWEDEN 鈥� The SEK32.7bn (鈧�3.5bn) K氓pan Pensioner scheme forgovernment employees booked a return of 2.1% for 2007, and now plans toincrease its real estate allocation to 10%.
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Texas buys into Latam real estate
UNITED STATES - Teacher Retirement System of Texas has approved $250m (鈧�164.4m) worth of real estate commitments so far in 2008, including an investment in Pramerica鈥檚 Latin American residential offering.
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Swedish shoppers overtake industrials
SWEDEN - Swedish retail has overtaken office as the market鈥檚 best performing sector, according to the 2007 Swedish Annual Property Index.
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Dubai wealth fund offers 鈧�3.1bn for Colonial
GLOBAL 鈥� Sovereign wealth fund the Investment Corporation of Dubai (ICD) is seeking approval from two major shareholders in Colonial for its 鈧�3.1bn offer for the Spanish property firm.
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CalPERS allocates $2.4bn to timberland
UNITED STATES - California Public Employees Retirement System (CalPERS) has made an initial new allocation to invest 1% of its total plan assets in timberland, which means $2.4bn (鈧�1.6bn) could be invested to the property type over several years.
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New Jersey considers $350m for non-core
UNITED STATES - New Jersey Division of Investment is looking at placing $350m (鈧�232m) into non-core real estate investments through commitments to six commingled funds.
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Spanish spread boosts logistics
SPAIN - Spanish logistics markets are expanding as urban sectoral growth continues at above the national average, according to a Savills report on the country鈥檚 warehousing market.
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CalPERS approves 鈧�850m in real estate
UNITED STATES - California Public Employees Retirement System has allocation $859.8m (鈧�587.9m) of new real estate investments in commingled funds containing a mixture of local and international real estate, and debt.
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UK pension funds look east for storage
UK - UK pension funds see continued traction in Central and Eastern European (CEE) logistics despite concerns over pricing in other segments of those markets.
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GIC acquires Finnish retail
FINLAND - GIC, the 鈧�145bn Singapore sovereign wealth fund, has acquired 40% of one of Finland鈥檚 largest shopping centres for 鈧�131.6m.
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Hotel investors build at home, buy abroad
US/GLOBAL -US hospitality investors are looking to Asia for returns but will face increasing competition from local investors, according to a report by Ernst & Young.
