Institutional Real Estate Newsline
December 26, 2011: Vol. 19, Number 48Buy For $65.00 Add to Cart
Brookfield Sells Office Tower for $610 Million
Brookfield Office Properties has sold 53 State St., the 40-story Exchange Place office tower, in Boston for $610 million.
CalPERS Earns $695 Million Profit From GI Fund
The $226 billion California Public Employees’ Retirement System (CalPERS) has earned a profit of approximately $695 million from its investment in GI Partners Fund I, a 10-year-old fund that liquidated after selling its last asset.
- Heitman and Abacus Property Group Acquire Office Property
Illinois Teachers Commits $200 Million to Blackstone
The $37.7 billion Illinois Teachers Retirement System has committed $200 million to Blackstone Real Estate Partners VII (BREP VII), a global opportunistic real estate fund that currently is targeting $10 billion in capital commitments.
LaSalle Investment Management Sells Assets to Global Logistics Properties
LaSalle Investment Management has entered into an agreement to sell all but two of the assets in its $1.6 billion Japan Logistics Fund (JLF).
Paladin Plans to Launch Fourth Latin America Property Fund
Paladin Realty Partners plans to launch a fourth Latin America–focused real estate fund, Paladin Realty Latin America Investors IV.
Prologis Transfers Mexican Industrial Portfolio
Prologis (NYSE: PLD) has transferred a $293 million Mexican industrial portfolio to its Mexican co-investment venture, Prologis Mexico Fondo Logistico.
PS Business Parks Buys Industrial/Flex Portfolio for $520 Million
PS Business Parks (NYSE: PSB) has acquired a 5.3 million square foot industrial and flex portfolio for $520 million from RREEF America REIT II Corp. and its affiliate, Northern California Industrial Portfolio.
Segro, Moorfield Purchase U.K. Logistics Fund for £314.7 Million
In a 50-50 joint venture, U.K. industrial REIT Segro PLC and Moorfield Group, a U.K.-based private equity fund manager, have agreed to acquire U.K. Logistics Fund (UKLF) from Hermes Real Estate Investment Management, Legal & General Property and LaSalle Investment Management.
Washington State Makes $400 Million Follow-Up Commitment
The $76.6 billion Washington State Investment Board (WSIB) has made a commitment of approximately $400 million to its internally managed real estate fund, Emerging Markets Fund of Funds II (EMFOF II).
Hiberno Announces £100 Million U.K. Property Fund Launch
London-based property company Hiberno Saxon has plans to launch its first property fund.
Marin County Hires Two Core Managers
The $1.4 billion Marin County (Calif.) Employees Retirement Association (MCERA) has hired two core real estate managers: Cornerstone Real Estate Advisers and UBS Realty Investors.