Institutional Real Estate Newsline
April 28, 2008: Vol. 15, No. 16Buy For $65.00 Add to Cart
Chicago Teachers Commits $40 Million to Asian Real Estate
The $12 billion Public School Teachers’ Pension and Retirement Fund of Chicago has committed $40 million to an Asian real estate fund sponsored by Merrill Lynch & Co.
Hines, CalPERS Fund Brazilian Investment Program
The São Paulo office of Hines, a Houston-based developer, has implemented a nationwide investment program to acquire or develop strategically located logistics parks on major highway intersections in various Brazilian cities to serve the needs of logistics and transportation clients.
L.A. Water and Power Employees Hires Consultant
The board of the $8.2 billion Water and Power Employees’ Retirement Plan (WPERP) selected Courtland Partners as its real estate consultant, pending contract negotiations, says Sangeeta Bhatia, WPERP’s retirement plan manager.
LaSalle Launches Pan-European Opportunity Fund
LaSalle Investment Management has launched a new Pan-European property fund, LaSalle European Ventures III.
Mass. PRIM Searches for Real Estate and Timber Consultants
The Massachusetts Pension Reserves Investment Management (PRIM) Board, which is responsible for investing the assets of the $52 billion Pension Reserves Investment Trust (PRIT), has issued an RFI for firms interested in providing general real estate and timber consulting services.
Morgan Stanley Real Estate Fund Raises an Additional $2.5 Billion
Morgan Stanley Real Estate has raised an additional $2.5 billion in equity commitments for the third offering of the firm’s Special Situations Fund III, 63 percent of which came from investors located outside of the United States.
Pacific Office Properties Trust Intends to Acquire Seven Office Buildings
Pacific Office Properties Trust (Amex: PCE) intends to acquire seven office buildings in Phoenix and San Diego comprising roughly 400,000 square feet from an undisclosed seller. Terms of the deal were not disclosed.
Strategic Capital Solutions Forms Dedicated Hospitality Financing Program
Strategic Capital Solutions has formed a dedicated hospitality financing program to fund up to $300 million of debt and equity investments in established properties and construction projects throughout the United States, the Caribbean, Latin America, the Middle East and Europe.