Institutional Real Estate Newsline
April 23, 2012: Vol. 20, No. 17Buy For $65.00 Add to Cart
Aberdeen Raises $242 Million in First Closing
Aberdeen Asset Management Asia has held a $242 million first close for its third closed-end Asia Pacific–focused property fund of funds, Aberdeen Asia Property Fund of Funds (Asia III).
AllianceBernstein Closes First Private Equity Real Estate Fund
AllianceBernstein has held a final close of its first private equity real estate fund, AllianceBernstein U.S. Real Estate Partners.
CCCERA Makes $60 Million Follow-up Investment in Torchlight Fund
The $5 billion Contra Costa County (Calif.) Employees Retirement Association (CCCERA) has committed $60 million to Torchlight Debt Opportunity Fund IV.
- CME Group Sells Chicago Board of Trade Building
Cornerstone Raises $515 Million for Debt Investment Vehicles
Cornerstone Real Estate Advisers has closed its Cornerstone Enhanced Mortgage Fund, which raised $315 million from domestic and international institutional investors.
Dexus Sells U.S. Industrial Properties for $770 Million
Sydney, Australia–based Dexus Property Group has sold its U.S. central portfolio to affiliates of Blackstone Real Estate Partners VII for $770 million.
Extra Space Buys Partner
Prudential Real Estate Investors (PREI) has sold its 94.9 percent interest in ESS PRISA III, a joint venture formed in 2005 that currently owns 36 self-storage properties in 18 states, to Extra Space Storage (NYSE: ESS). Extra Space owned the remaining 5.1 percent.
Manchester Pension Fund Commits $2 Million to Real Estate
The $146 million Manchester (N.H.) Employees’ Contributory Retirement System has invested $2 million in TA Associates Realty Fund X, managed by TA Associates Realty.
Orchard Street Teams Up with GIC for Second Property Joint Venture Fund
Orchard Street Investment Management, the specialist commercial property investment manager, and an affiliate of GIC Real Estate, the property investment arm of the Government of Singapore Investment Corp., have created Orchard Street U.K. Special Situations Fund II.
PREI Raises $568 Million in Final Close
Prudential Real Estate Investors (PREI) has completed the final close for its fourth seniors housing fund, Senior Housing Partners IV, bringing the total amount of equity raised to $568 million.
- Younan Properties Sells 200 N. LaSalle to Onni Group
- Texas Municipal Commits $75 Million to Stockbridge Fund