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Institutional Real Estate Newsline

May 22, 2015: Vol. 23, Number 21

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  • Recent commercial real estate transactions

    The largest transaction was a hotel in Austin.

  • Three NYC properties to sell for $2.9b

    In separate deals, three properties in Manhattan are under contract to be sold with a total sales price of $2.86 billion.

  • Chicago pension fund searches for infrastructure managers

    The Public School Teachers' Pension & Retirement Fund of Chicago is searching for infrastructure investment managers.


  • CalPERS forms Asia Pacific infrastructure partnership

    The $300 billion California Public Employees' Retirement System has formed an Asia Pacific infrastructure partnership.

  • Maine commits $25m to real estate

    The Maine Public Employees Retirement System has committed up to $25 million to a real estate fund.

  • SFERS commits €100m to Nordic real estate fund

    The San Francisco Employees' Retirement System has committed €100 million ($113.5 million) to a Nordic region real estate fund.


  • UDR buys stake in apartment portfolio

    UDR has completed the acquisition of a 48 percent interest in a five-property apartment portfolio from its new partner.

  • Montana commits $60m to real estate and energy

    The $9.8 billion Montana Board of Investments has committed $60 million to three funds.

  • CPPIB invests in retail in Europe and Asia

    In two separate deals, the Canada Pension Plan Investment Board has invested more than $1.2 billion for its international portfolio.


  • London apartment fund holds final close

    London Central Portfolio held a final close for its apartment fund on May 15 with £100 million ($155.6 million) in equity commitments.

  • LGP announces £403m close for U.K. fund

    Legal & General Property has announced the final close of U.K. Property Income Fund II.

  • Patrizia acquires European residential portfolio

    Patrizia Immobilien has announced the successful takeover of a Scandinavian real estate fund for €900 ($1 billion) in an off-market transaction.


  • Singapore REIT buys retail property in Australia

    Singapore-based Starhill Global REIT has acquired a retail property in Australia, marking it the largest retail property deal in Australia year-to-date.

  • Cross-border investment from China hits $7.8b

    Chinese investors have invested more than $7.8 billion in global property transactions in the first four months of 2015, with Australia a major recipient of the cross-border capital.

  • Illinois State Board of Investment searches for real estate consultant

    The Illinois State Board of Investment has issued an RFP for a real estate consultant.


  • Verizon Operations Center in New Jersey sells for $650m

    Cushman & Wakefield has closed a sale-leaseback transaction valued at $650.3 million for the 1.4-million-square foot Verizon operations center. 

  • GTIS Partners buys Brazil Hospitality Group for $400m

    GTIS Partners and a Brazilian partner have completed a tender offer in a deal valued at $400 million.

  • Ashford Trust buys nine-hotel portfolio for $224m

    Ashford Hospitality Trust has acquired a nine-hotel portfolio for $224 million in cash.


  • Virginia pension fund searches for real estate manager

    The Danville (Va.) Employees' Retirement System has issued an RFP for a real estate manager.

  • Chinese companies to invest $500m in India

    India-based GMR Infrastructure has entered into an agreement with China's Guizhou International Investment Corp.

  • Brookwood Financial holds $233m final close

    Brookwood Financial Partners has announced the final close for its Brookwood U.S. Real Estate Fund with $233 million in equity commitments.


  • Ohio Police & Fire commits to energy fund

    The Ohio Police & Fire Pension Fund has committed up to $30 million to energy fund.

  • SDCERS commits $40m to real estate funds

    The San Diego City Employees' Retirement System has committed $20 million each to two real estate fund.

  • Moody National REIT I to acquire $1.7b portfolio

    Moody National REIT I is under contract to acquire a 149-property hotel portfolio for $1.725 billion.