Institutional Real Estate Newsline
March 1, 2013: Vol. 21 No. 9Buy For $65.00 Add to Cart
Paladin holds $75 million first close for Latin America fund
Paladin Realty Partners has held a $75 million first close for its fourth Latin America fund.
AEW holds first close for opportunistic fund
AEW Capital Management has held an $89.2 million first close for its opportunistic real estate fund AEW Partners VII.
Sony sells Tokyo property to Japanese REIT for $1.2 billion
Sony has sold its Tokyo-based Sony City Osaki building for ¥111 billion ($1.2 billion).
Meyer Bergman raises $213 million for second fund
London-based investment management firm Meyer Bergman has raised approximately €160 million ($213 million) for its second fund, Meyer Bergman European Retail Partners II.
Illinois Teachers hires two advisers for real estate co-investment program
The $38.1 billion Illinois Teachers’ Retirement System (TRS) has hired ORG Portfolio Management and Real Asset Portfolio Management as advisers.
Caisse unit plans to sell most of C$2.3 billion hotel assets
Ivanhoé Cambridge, a unit of the Caisse de dépôt et placement du Québec, plans to sell most of its hotels after the properties failed to produce adequate returns, and will redeploy proceeds in shopping malls, office towers and residential buildings.
Ohio Bureau invests $50 million in Latitude fund
The Ohio Bureau of Workers’ Compensation has invested $50 million in Latitude Management Real Estate Capital III.
Westfield sells stake in London property for £871.5 million
The Westfield Group is selling a stake in its Stratford City development in London to Dutch and Canadian pension funds for £871.5 million ($1.3 billion).
CBRE Global Investors fund to market U.S. office portfolio
CBRE Global Investors has begun marketing for sale a portfolio of five high-quality office properties located in Atlanta, Chicago and Dallas.
Morgan Stanley fund buys Moscow mall for $1.2 billion
Morgan Stanley Real Estate Investing has bought the Metropolis shopping mall in northwest Moscow for $1.2 billion.
TPG buys Assisted Living Concepts for $278 million
Global investment firm TPG is buying Assisted Living Concepts, a Wisconsin-based operator of senior housing.
Thor Equities puts Manhattan office building up for sale
Thor Equities plans to sell an 11-story SoHo office building at 530–536 Broadway in New York City for $500 million.
Lowy family sells Westfield stake for A$663.7 million
The founding family of The Westfield Group, the Lowy family, has sold its entire 7.1 percent stake in Westfield Retail Trust for A$663.7 million ($677.7 million).
DivcoWest and Brickman purchase three N.Y.C office buildings
DivcoWest and Brickman have acquired three office buildings located in New York City’s Midtown South submarket: 24–28 W. 25th St. and 40 W. 25th St.
Goodman to spend A$500 million on acquisitions
Australia-based Goodman Group plans to spend A$500 million ($510 million) on acquisitions to boost its assets during the next year.