Institutional Real Estate Newsline
June 16, 2008: Vol. 15, No. 23Buy For $65.00 Add to Cart
American Campus Communities Acquires Student Housing Business
American Campus Communities (NYSE: ACC) has completed its acquisition of the student housing business of GMH Communities Trust (NYSE: GCT).
Avanath and MacFarlane/Costa Venture Acquire Simpson Housing Solutions
Avanath Capital Partners and MacFarlane Costa Housing Partners (MCHP) have acquired Simpson Housing Solutions (SHS) and its portfolio of 273 properties, which comprises 26,000 affordable rental apartments in 33 states, the District of Columbia and Puerto Rico.
Buchanan Storage Capital Offers Services to Self-Storage Owners
Buchanan Storage Capital, a national subsidiary of Buchanan Street Partners, will immediately begin providing capital, advisory and investment sales services to self-storage owners, operating under the Buchanan Street Partners name and business platform.
Dividend Capital Launches Global Real Estate Fund of Funds
Dividend Capital Group has launched Dividend Capital Global Real Estate Fund of Funds, a private equity fund of funds focused on value-added and opportunistic global real estate funds.
Essex, Mass., Invests in High-Return Real Estate
The $300 million Essex Regional Retirement Board, which serves Essex County, Mass., has selected three high-yield funds for a total mandate of $13 million.
Fairfield Greenwich Launches Opportunity Fund
Fairfield Greenwich Group and London-based Ærium Finance Ltd. have launched Ærium Fairfield Special Opportunities Fund, which is seeking to raise €500 million ($770 million) in equity targeting European developments and investments in the office, retail, residential, hotel and logistics sectors, as well as land for development.
Mass. PRIM Selects Public Global Natural Resources Managers
The Massachusetts Pension Reserves Investment Management (PRIM) Board, which is responsible for investing the assets of the $54 billion Pension Reserves Investment Trust (PRIT), has hired T. Rowe Price and Jennison Associates to handle a public global natural resources mandate of $900 million.
North River Raises $100 Million for First Commercial Real Estate Debt Fund
North River Investment Management has closed its first commercial real estate private equity fund, North River Opportunity Partners I LP, with $100 million in committed equity.
Strategic Capital Launches Urban Real Estate Fund
Strategic Capital Partners has launched Strategic Partners Urban Fund, which will invest in real estate in underserved urban communities in cities across the country.