Institutional Real Estate Newsline
June 14, 2013: Vol. 21 No. 24Buy For $65.00 Add to Cart
Blackstone raises $1.5 billion for Asia fund
The Blackstone Group held a $1.5 billion first close for Blackstone Real Estate Partners Asia on June 7.
LACERA approves $1.2 billion real estate plan
The board of investments of the $39.2 billion Los Angeles County Employees Retirement System (LACERA) has approved a new real estate plan for the upcoming fiscal year.
New Jersey Division of Investments to sell nearly $1 billion in secondaries
The $75.6 billion New Jersey Division of Investments (NJDI) has sold its interest in 25 real estate private equity funds.
Recent commercial real estate transactions
The largest completed transactions included two office properties in Manhattan sold by Invesco Real Estate.
Cypress raises $195 million for retail fund
Cypress Equities has raised $195 million for its Cypress Acquisition Partners Retail Fund.
Cornerstone Real Estate Adviser co-founder passes away
Marc Louargand, Ph.D., a leading figure in the commercial real estate investment industry and globally recognized urban economist, passed away suddenly on June 6.
AustralianSuper appoints Henderson as investment manager
Henderson Global Investors has been appointed investment manager to AustralianSuper, the A$60 billion ($56 billion) Australian superannuation fund, for its emerging U.K. retail property strategy.
REITs lose momentum in May
U.S. REITs underperformed the broader equity index in May, with equity REITs posting a -5.93 percent return versus the S&P 500 Index's positive gains of 2.34 percent, according to the FTSE NAREIT U.S. REIT Index.
Brookfield acquires European logistics company
Brookfield Property Partners and its institutional partners through a fund managed by an affiliate of Brookfield Asset Management have acquired EZW Gazeley Ltd. from Economic Zones World.
Ivanhoé Cambridge to purchase stake in Manhattan office tower
Ivanhoé Cambridge, a unit of the Caisse de dépôt et placement du Québec, and a partner have agreed to purchase a 49 percent stake in 1211 Sixth Ave. in a deal that values the Manhattan office tower at about $1.75 billion.
Oxford Properties and CPPIB expand Canadian retail joint venture
Oxford Properties Group, the real estate arm of the Ontario Municipal Employees’ Retirement System, and the Canada Pension Plan Investment Board (CPPIB) have expanded their 50-50 Canadian retail joint venture, investing in two regional malls.
Brookfield named largest real estate fund manager and core funds dominate
Canadian firm Brookfield Asset Management was named largest global fund manager with the highest total real estate assets under management, totaling more than $109 billion in 2012.
Carlyle plans $4 billion real estate fund
The Carlyle Group is preparing to launch a U.S. real estate fund and hopes to raise $4 billion in equity commitments.
Gafisa SA agrees to sell stake in Alphaville to Blackstone and Pátria
Gafisa has signed an agreement to sell a 70 percent stake in Alphaville Urbanismo S.A., valuing Alphaville at an equity value of approximately R$2 billion ($930 million).
Clarion sells 50 percent stake in IN Retail Fund to Inland
Inland Real Estate Corp. has acquired a 50 percent stake in IN Retail Fund held by Clarion Partners on behalf of the New York State Teachers’ Retirement System for $121 million in cash, making it the solitary owner of a 2.3 million-square-foot Midwest core portfolio.