Institutional Real Estate Newsline
February 21, 2014: Vol. 22 No. 8Buy For $65.00 Add to Cart
Recent commercial real estate acquisitions
The largest completed transactions include a retail property in Texas and an apartment building in Pennsylvania.
Blackstone's Asian fund nears $4b fundraising goal
The Blackstone Group raises an additional $405.5 million for its first Asian exclusive fund.
Illinois Teachers increases real estate allocations
The $42.75 billion Illinois Teachers' Retirement System has increased the allocation to its $5.1 billion real estate portfolio.
U.S. investors plan $48b in real estate commitments
U.S. investors plan to invest $48 billion in real estate in 2014, according to the preliminary results of Institutional Real Estate, Inc.
Manhattan's Standard, High Line hotel changes hands
Andre Balazs Properties, the creator and owner, with its partners Dune Capital Management and Greenfield Partners, of The Standard, High Line hotel in Manhattan, has agreed to sell the hotel.
Secondary markets address the needs of investors and portfolios
As private real estate funds and partnerships become greater components in institutional investors portfolios, says R. Paul Mehlman, a partner at Landmark Partners, secondary markets become management tools for portfolios.
Farallon holds $375m close
Farallon Capital Management has completed the fundraising for Farallon Real Estate Partners, a U.S. real estate investment pooled fund with commitments of $375 million.
CalPERS approves increased allocations to real estate, infrastructure
The $1.8 billion California Public Employees’ Retirement System increased its real estate and infrastructure allocations, while maintaining its expected rate of return of 7.5 percent.
Devon Energy sells energy assets for $2.8b
Devon Energy has sold some of its Canadian energy assets for $2.8 billion to Canadian Natural Resources.
Cook County issues emerging manager RFP
The $8.7 billion Cook County (Ill.) Pension Fund has launched a search for a real estate emerging manager.
Shell sells Australian downstream oil assets for A$2.4b
Royal Dutch Shell has sold its Australian downstream oil assets to Dutch-owned oil trader Vitol and the Abu Dhabi Investment Council for about A$2.4 billion ($2.2 billion).
GLP Brazil Development Partners I expands to $1b
GLP Brazil Development Partners I, managed by Global Logistic Properties, has raised additional capital commitments of $230 million.
Mirvac creates office alliance with TIAA-CREF
Australia’s Mirvac Group has signed a Relationship Deed with TIAA-CREF that establishes the “Australian Office Alliance.”
Goodman and ADIC increase JV equity allocation
Goodman Group and the Abu Dhabi Investment Council have increased their equity allocation to the Goodman Japan Development Partnership from $500 million to $800 million.
Number of Asian REITs likely to grow
In just the past five years, the market capitalization of Asian REITs has more than doubled to top $148.6 billion in fourth quarter 2013.