Institutional Real Estate Newsline
February 4, 2008: Vol. 15, No. 5Buy For $65.00 Add to Cart
- Bouwfonds, Catella Launch Open-End European Residential Fund
CalSTRS, Sealy Form $200 Million Industrial JV
The $180 billion California State Teachers’ Retirement System (CalSTRS) and real estate investment firm Sealy & Co. have formed a new industrial joint venture to acquire and develop industrial projects in the Sun Belt of the United States.
Centerline Raises $140.4 Million Tax-Credit Fund
New York City–based Centerline Capital Group, a subsidiary of Centerline Holding Co., has closed Centerline Credit Enhanced Partnership LP – Series K Number 1 (CCEP-K), a $140.4 million low-income housing tax-credit (LIHTC) investment fund.
GE Pension Trust Acquires Paris Office Portfolio
An affiliate of the $55 billion General Electric Pension Trust has purchased a portfolio of three office properties located in the Paris suburbs of Issy les Moulineaux, Puteaux and Saint-Denis from Generali Group.
L.A. Water and Power Employees' Searches for Real Estate Consultant
The board of the $8.2 billion Water and Power Employees’ Retirement Plan (WPERP) is searching for a real estate consultant. The Los Angeles–based plan sponsor has a 5 percent target allocation to its growing real estate investment program.
Phoenix Holds Final Closings for Two Funds with $470 Million
Phoenix Realty Group has closed two real estate private equity funds — Metropolitan Workforce Housing Fund and the Genesis Workforce Housing Fund II — with a total of $470 million in equity.
ProLogis Signs Agreement to Develop and Lease Industrial Space in Poland
ProLogis (NYSE: PLD) signed new agreements during fourth quarter 2007 to develop and lease more than 1.1 million square feet of industrial space in Poland.
Savanna Closes Opportunity Fund with $313 Million
New York City–based Savanna Investment Management has closed Savanna Real Estate Fund I with $313 million in equity.
U.S. Real Estate Desirable to AFIRE Survey Participants
Despite a growing interest in Asia, U.S. real estate, by a wide margin, has risen to the top of the global property market among foreign investors.