Institutional Real Estate Newsline
April 14, 2008: Vol. 15, No. 14Buy For $65.00 Add to Cart
- Ashkenazy, Carlyle Group Acquire Manhattan Office Tower for $680 Million
DRA Advisors Fund Raises $1.25 Billion
DRA Growth and Income Fund VI, a value-added fund sponsored by DRA Advisors, closed last month with $1.25 billion in equity.
Illinois Teachers Selects Real Estate Managers
The $41.7 billion Teachers’ Retirement System of the State of Illinois has selected Cornerstone Real Estate Advisers and Invesco Real Estate to manage real estate separate accounts of $475.6 million each.
- Jones Lang LaSalle and Colonial First State Property Management Form Asia Retail JV
KPERS Searches for Real Estate and Investment Advisory Services
The $14 billion Kansas Public Employees Retirement System (KPERS) is searching for a qualified firm to provide real estate and investment advisory services on a nondiscretionary basis.
- Macfarlan Capital Partners Acquires Assets for TerraMesa Resorts
Norwegian Government Pension Fund Adds Real Estate Allocation
As part of a regular review of its investment strategy, Norway’s NKr 2.1 trillion ($395 billion) Government Pension Fund – Global, formerly known as the Government Petroleum Fund, has approved the investment real estate as a separate asset class.
ProLogis Forms $1 Billion Middle East JV
ProLogis (NYSE: PLD) and Arcapita, a global investment company headquartered in Bahrain, have formed a 50-50 joint venture called ProLogis Middle East to develop and acquire a $1 billion portfolio of advanced logistics warehouse space in the Middle East.
Rayonier Purchases 56,300 Acres of Timberland in Washington
Rayonier (NYSE: RYN) has completed its purchase of 56,300 acres of timberland in southwest Washington state from Sierra Pacific Industries for approximately $213.4 million or $3,790 per acre. Rayonier’s Washington holdings now total more than 426,000 acres.
Texas Treasury Seeks Global Real Estate Securities Managers
The $3.5 billion Texas Treasury Safekeeping Trust Co., which is responsible for the asset allocation and management of 12 public endowment trust funds, has issued an RFP for or one or more global real estate securities managers.
TIAA-CREF Launches Real Estate Fund
TIAA-CREF Asset Management has launched TIAA-CREF U.S. Real Estate Fund I LP, a closed-end fund that will invest approximately 80 percent in a diversified portfolio of primarily high-quality core real estate assets in the office, retail, industrial and multifamily sectors.