Institutional Real Estate Newsline
August 11, 2008; Vol. 15, No. 30Buy For $65.00 Add to Cart
AEW Closes Asian Property Fund with $557.8 Million
AEW Capital Management has closed AEW Value Investors Asia LP, which was oversubscribed with $557.8 million in equity.
AMP Fund Makes First Acquisition
AMP Capital Investors’ Asian Giants Infrastructure Fund has agreed to pay $25 million to acquire a minority stake in Gayatri Infra Ventures Ltd., the newly formed road unit of India-based construction firm Gayatri Projects Ltd.
First Quarter 2008 NCREIF Released
The first quarter 2008 NCREIF -Townsend Real Estate Fund Indices had a gross of fees total return of 1.3 percent for all core funds, 0.3 percent for all value-added vehicles and –0.4 percent for all opportunistic products.
Illinois TRS Approves Changes to Real Estate Plan
The board of trustees of the $38.4 billion Teachers’ Retirement System of the State of Illinois (TRS) has approved a tactical plan for its real estate investments for the fiscal year that began July 1.
Mass. PRIM Selects Real Estate, Timber and Debt Consultants
The Massachusetts Pension Reserves Investment Management (PRIM) Board, which is responsible for investing the assets of the $49.4 billion Pension Reserves Investment Trust (PRIT), has hired Callan Associates to provide general real estate and timber consulting services.
Inland American to Invest $100 Million in Debt JV
A subsidiary of Inland American Real Estate Trust has agreed to contribute up to $100 million in capital over the next 18 months to Concord Debt Holdings LLC, a joint venture debt platform established by Winthrop Realty Trust (NYSE: FUR) and Lexington Realty Trust (NYSE: LXP).
SCRS Hires D. E. Shaw Group
The South Carolina Retirement System Investment Commission, which is responsible for investing and managing the more than $29 billion in assets of the South Carolina Retirement System (SCRS), has awarded a strategic relationship mandate to the D. E. Shaw Group, an alternative investment firm.
Sovran, Heitman Buy Self-Storage Portfolio for $144 Million
San Antonio–based Hendry Investments, which has storage facilities operating under the Lock-N-Key brand, has sold a 21-property self-storage portfolio for $144 million to Sovran HHF Storage Holdings LLC, a joint venture between self-storage REIT Sovran Self Storage (NYSE: SSS) and an affiliate of real estate management firm Heitman.
World Bank Plans to Ramp Up Infrastructure Lending
The World Bank intends to significantly increase its lending and analytical support for infrastructure investments in developing countries in an effort to aid growth and poverty reduction.