Institutional Real Estate Newsline
May 10, 2013: Vol. 21 No. 19Buy For $65.00 Add to Cart
Ares to buy AREA Property Partners
Ares Management has signed a definitive agreement to acquire AREA Property Partners.
Recent commercial real estate acquisitions
The two largest completed transactions included a mall in Hollywood, Fla., and a mid/high-rise apartment complex in Houston.
LaSalle to sell logistics portfolio to Japanese investors
Chicago-based LaSalle Investment Management will be selling eight logistics assets in Japan to a group of Japanese institutional investors for $900 million.
SFERS approves commitment to multifamily fund
The $15.6 billion San Francisco City & County Employees' Retirement System (SFERS) has approved a $40 million commitment to the Berkshire Multifamily Value Plus Fund III.
LACERA hires three new separate account managers
The $39.2 billion Los Angeles County Employees Retirement System (LACERA) has hired three new separate account managers to invest up to an additional $600 million in real estate.
Angelo Gordon raises $130 million for net lease fund
Angelo, Gordon & Co. has raised approximately $130.2 million for its AG Net Lease Realty Fund III.
Hines sells two NYC buildings for more than $1 billion
Hines, on behalf of its Hines U.S. Core Office Fund, has sold 499 Park Ave. in Manhattan to an institutional fund managed by American Realty Advisors and 425 Lexington Ave. in Manhattan to institutional investors advised by J.P. Morgan Asset Management.
OPIC commits $100 million to Paladin
Overseas Private Investment Corp. (OPIC) has committed to $100 million to Paladin Realty Latin America Investors IV.
Revera sells big stake in Canadian senior housing for $1 billion
Revera has partnered with Health Care REIT in a joint venture to share ownership of 47 Revera retirement residences in Canada.
Embarcadero Capital Partners holds first close for value-added fund
Belmont, Calif.-based Embarcadero Capital Partners has held a $144 million first close for Embarcadero Capital Investors IV.
Canyon Capital raises $50 million for multifamily fund
Canyon Capital Realty Advisors has raised $50 million for its Canyon Multifamily Impact Fund.
CBBIB, GE form $403 million venture to invest in Tokyo office properties
Canada Pension Plan Investment Board (CPPIB) and GE Capital Real Estate have formed the Tokyo Office Venture targeting investment in mid-size class A and B office properties in key CBD submarkets of Tokyo.
Stonebridge launches second infrastructure debt fund
Canada-based Stonebridge Financial Corp. has launched its second fund, Stonebridge Infrastructure Debt Fund II, with a $300 million fundraising goal.
OPERF makes $400 million commitment to Lone Star
The Oregon Investment Council approved a commitment of up to $400 million to Lone Star Funds' Lone Star Fund VIII (LS Fund VIII), on behalf of the Oregon Public Employees' Retirement Fund (OPERF), at its May 1 meeting.
SCERS plans additional commitments to real estate
The $6.9 billion Sacramento County (Calif.) Employees' Retirement System (SCERS) has approved a 12-month real estate investment plan.