Institutional Real Estate Newsline
May 19, 2008: Vol. 15, No. 19Buy For $65.00 Add to Cart
Apple REIT 8 Acquires Two Southern California Hotels
Apple REIT 8 has acquired two Southern California hotels from R.D. Olson Development for $80 million.
Baltic Property Trust Launches Two Funds
Copenhagen-based Baltic Property Trust has launched a fund focused on German real estate and a fund targeting Russian property.
CB Richard Ellis Investors Closes Real Estate Funds with $2.1 Billion
CB Richard Ellis Investors has closed CB Richard Ellis Strategic Partners U.S. 5, which consists of two limited partnerships, with equity commitments of $2.1 billion from institutional investors in the United States, Europe and the Middle East.
Citi Infrastructure Forms Airport JV
Citi Infrastructure Investors and the Vancouver Airport Authority have formed a joint venture to pursue the sourcing, funding and maximization of potential airport opportunities through YVR Airport Services Ltd. (YVRAS), a subsidiary of the Vancouver Airport Authority.
Hansa Investment Launches Baltic Real Estate Fund
Hansa Investment Funds, an asset management division of Hansabank Group, has launched and held the first closing of Hansa Baltic Real Estate Fund.
Harrison Street Holds Second Closing with $240 Million
Harrison Street Real Estate Capital has held the second closing of Harrison Street Real Estate Partners II with $240 million in equity.
Morgan Stanley Infrastructure Fund Raises $4 Billion
Morgan Stanley has closed Morgan Stanley Infrastructure Partners (MSIP) with $4 billion in equity commitments, exceeding the firm’s initial target of $2.5 billion, which “underscores the particular demand for infrastructure investment and, broadly, for alternative assets that generate long-term stable cash flows,” says James Gorman, co-president of Morgan Stanley.
NYSTRS Commits $155 Million to Real Estate
The $103.4 billion New York State Teachers’ Retirement System (NYSTRS) has invested up to $155 million in three real estate funds, renewed agreements with external managers and expanded its agreement with Callan Associates, the retirement system’s general investment, real estate and private equity consultant.
Parkway Properties Office Fund II Plans to Acquire Multi-Tenant Office Properties
Parkway Properties Office Fund II, a joint venture between the $112.1 billion Teacher Retirement System of Texas (TRS) and Parkway Properties, plans to acquire $750 million of high-quality, multi-tenant office properties in the United States.
Tenet Healthcare Corp. Plans to Sell 34 Medical Office Buildings
Tenet Healthcare Corp. plans to sell 34 medical office buildings, totaling 2.4 million square feet, as part of an effort to focus more on patient care rather than property management, says Biggs Porter, Tenet’s CFO.