Institutional Real Estate Newsline
February 11, 2008: Vol. 15, No. 6Buy For $65.00 Add to Cart
Canyon Capital Launches New Urban Fund
Beverly Hills, Calif.–based Canyon Capital Realty Advisors has launched Canyon-Johnson Urban Communities Fund.
CPP Investment Board Acquires Stake in Canadian Office Tower
The CPP Investment Board (CPPIB), which invests the assets of the C$121.3 billion ($121.4 billion) Canada Pension Plan, has acquired a 40 percent interest in Scotia Place, a 600,000-square-foot class A office tower located in downtown Edmonton, Alberta, for a value of C$64 million ($64 million).
Meredith & Grew Joins Colliers International
Boston-based Meredith & Grew, a commercial real estate services provider, has joined Colliers International, which plans to broaden its reach into the Northeast region of the United States. Meredith & Grew will transition to the Colliers brand name and be known as Colliers Meredith & Grew.
Niam Closes Fourth Property Fund with €700 Million
Swedish private equity firm Niam has closed its fourth property fund, Niam Fund IV, with approximately €700 million ($1 billion) in equity.
NYSTRS Commits $347.5 Million to Real Estate
The $103.4 billion New York State Teachers’ Retirement System (NYSTRS) has invested up to $100 million in Lehman Brothers Real Estate Mezzanine Partners II, a fund sponsored by Lehman Bros., and up to $75 million in Carbon Capital Fund III.
Ohio Police & Fire Commits Real Property to Open-End, Core Fund
The $12.8 billion Ohio Police & Fire Pension Fund (OP&F) has moved seven direct properties out of a separate account held with Invesco Real Estate and into Invesco’s open-end, core fund, Invesco Core Real Estate – U.S.A. This completes a three-year plan initiated in 2005 with a strategic decision by the OP&F board to invest through commingled funds going forward.
Triple Net Properties Changes Name to Grubb & Ellis Realty Investors LLC
Triple Net Properties, which was acquired through Grubb & Ellis Co.’s acquisition of NNN Realty Advisors last December, has changed its name to Grubb & Ellis Realty Investors LLC.
ING Real Estate, GIC Real Estate Form Italian Retail JV
ING Real Estate and an affiliate of GIC Real Estate, the property investment arm of the Government of Singapore Investment Corp., have formed a joint venture to acquire the new Roma Est Shopping Centre in Rome from Italian grocer Gruppo PAM.