Institutional Real Estate Newsline
April 19, 2013: Vol. 21 No. 16Buy For $65.00 Add to Cart
About $1.38 billion in commercial real estate traded hands in recent weeks
In the past couple of weeks, the multifamily sector has completed the most acquisitions, according to data by Real Capital Analytics (RCA).
CalPERS acquires core apartment portfolio in Manhattan
The $260.4 billion California Public Employees' Retirement System (CalPERS) with its partner GID has purchased two adjacent residential towers
LEM Capital raises $203.5 million for third high-yield debt fund
LEM Capital has raised $203.5 million for its LEM Real Estate High-Yield Debt & Preferred Equity Fund III.
Spear Street agrees to buy Manhattan building for $250 million
Spear Street Capital has agreed to buy 315 Park Ave. S. in Manhattan for less than $250 million from BCN Development.
GLP to invest $500 million to expand Brazil operations
Global Logistic Properties (GLP) expects to invest at least R$1 billion ($500 million) in the next two years to expand its business in Brazil. GLP plans to start construction on an additional 10.8 million square feet.
Blackstone plans to invest extensively in Asian real estate market
The Blackstone Group plans to invest more than $4 billion in China and other Asian countries. Though the exact amount of the fund is not known, the sum is twice the value of what Blackstone had initially planned to raise.
LaSalle obtains South Korea license
LaSalle Investment Management has obtained a license from the Financial Services Commission of South Korea to conduct asset management business in the country.
LACERS plans additional commitments to real estate
Los Angeles City Employees' Retirement System (LACERS) has approved a recommendation from its real estate investment consultant.
LACERA commits $350 million to real estate separate accounts
The board of investments of the $39.2 billion Los Angeles County Employees Retirement Association (LACERA) has approved an additional $350 million be committed to the pension fund's real estate separate account managers.
CalPERS looks to core assets to rebalance real estate portfolio
The $260.4 billion California Public Employees' Retirement System (CalPERS) has approved a proposal to change its current real estate investment strategy by extending the investment period by two years.
Starwood, Vision Equities buy Charlotte, N.C., office building for $245 million
Starwood Capital Group has acquired, in partnership with Vision Equities, 1 Wells Fargo Center, located in the central business district of Charlotte, N.C.
Maine PERS commits $100 million to Mesa West open-end fund
The $11.4 billion Maine Public Employees' Retirement System has committed $100 million to Mesa West Core Lending Fund, an open-end fund managed by Mesa West Capital.
Blackstone's LogiCor plans to double size of warehouse portfolio
LogiCor, The Blackstone Group’s European warehouse owner and operator, plans to double its portfolio through 2015 as it seeks to profit from rising rents and values.
Starwood Capital closes opportunity fund with $4.2 billion
Greenwich, Conn.â€“based firm Starwood Capital Group has closed its Starwood Distressed Opportunity Fund IX (SOF IX) with $4.2 billion in commitments from more than 75 global investors.
Henderson launches global property fund
Henderson Global Investors has launched the Henderson Global Property Income Fund to invest in REITs and listed property securities from around the world.