Institutional Real Estate Newsline
January 14, 2008: Vol. 15, No. 2Buy For $65.00 Add to Cart
LACERA Invests in European Real Estate
The $41 billion Los Angeles County Employees Retirement Association (LACERA) has committed approximately €17 million ($25 million) to Europa Fund III, which is sponsored by London-based Europa Capital.
CalSTRS, First Industrial Expand Partnership Internationally
First Industrial Realty Trust (NYSE: FR) and the $175 billion California State Teachers’ Retirement System (CalSTRS) have formed two joint ventures, one in the Netherlands and Belgium, the other in Canada.
E-House Holdings Announces First Closing of Chinese Real Estate Fund
E-House (China) Holdings Ltd., a real estate services company, has held the first closing of E-House China Real Estate Investment Fund I LP with $100 million.
Hines, CalPERS Acquire Minneapolis Office Campus
National Office Partners LP, a partnership formed in 1998 between Hines and the $246 billion California Public Employees’ Retirement System (CalPERS), has acquired a three-building office campus in downtown Minneapolis from ING North America Insurance Corp. Terms of the deal were not disclosed.
Infrastructure Survey Reveals Investor Confidence in the Asset Class
An online Ernst & Young infrastructure survey of U.S. and Canadian respondents revealed cautious optimism about the asset class.
ING Real Estate Acquires ABP
ING Real Estate Investment Management and Stichting Pensioenfonds ABP, a Dutch pension fund, have entered into an agreement in which ING Real Estate will acquire KFN, a Dutch nonlisted REIT and wholly owned subsidiary of ABP.
ING Real Estate Investment Management Acquires Merikortelli Building
ING Real Estate Investment Management has acquired the Merikortelli building in Helsinki’s city center for €70.5 million ($104.3 million).
Mass. PRIM Selects International Real Estate Securities Managers
The $45.5 billion Massachusetts Pension Reserves Investment Management Board (PRIM) selected RREEF and European Investors to handle separate accounts of $100 million each to invest in international real estate securities.
New City Holds Second Closing with $650 Million
Tokyo-based New City Corp. has held the second closing for New City Asia Partners with $650 million in equity.
ProLogis to Develop London Distribution Park
ProLogis (NYSE: PLD) plans to develop a new 2.1 million-square-foot, rail-served distribution park in southeast London. Projected costs for the project have not been disclosed.
SBCERA Commits $20 Million to Real Estate
The $5.7 billion San Bernardino County (Calif.) Employees’ Retirement Association (SBCERA) has committed $20 million to Fillmore West Fund LP, a fund sponsored by Fillmore Capital Partners.
- Union Buys Italian Shopping Mall
Westfield Forms Retail Development JV at World Trade Center Site
The Westfield Group has formed a joint venture with the Port Authority of New York and New Jersey to reacquire an interest in the retail premises at the World Trade Center site in lower Manhattan. Westfield will invest up to $625 million in development costs.