Institutional Real Estate Newsline
August 1, 2011: Vol. 19, Number 31Buy For $65.00 Add to Cart
Alcion Ventures Closes Fund II with $500 Million
Alcion Ventures has raised nearly $500 million of equity for its Alcion Real Estate Fund II, surpassing its original target of $400 million.
JHM Interstate Hotels India Acquires Two More Hotels in India
JHM Interstate Hotels India, a 50-50 joint venture management company between Interstate Hotels & Resorts and JHM Hotels, has signed contracts to operate two more hotels in India that are expected to open this year.
Macerich Buys Niagara Falls Outlet Center for $200 Million
The Macerich Co. (NYSE: MAC) has paid $200 million for Fashion Outlets of Niagara Falls USA, a 526,000-square-foot outlet center located in Niagara Falls, N.Y., from a subsidiary of AWE Talisman Co., a retail outlet center developer.
Pennsylvania SERS Commits $25 Million to Mezzanine Fund
The board of the $26 billion Pennsylvania State Employees’ Retirement System (SERS) approved a $25 million commitment to LEM Mezzanine’s third fund, LEM Real Estate High Yield Debt Fund III, at its July 20 meeting.
RREEF Sells La Rinascente for €260 Million
RREEF, on behalf of one of its opportunistic funds, has sold La Rinascente S.r.l. to Central Retail Corporation Ltd., a large Thailand retail conglomerate, for an enterprise value of approximately €260 million ($376 million).