Institutional Real Estate Newsline
October 11, 2010: Vol. 18, Number 39Buy For $65.00 Add to Cart
Blackstone and Patria Establish Partnership in Brazil
The Blackstone Group has purchased a 40 percent stake in Patria, Brazil’s leading alternative asset manager.
CalPERS Reorganizes $1.1 Billion Apartment Portfolio
The $212 billion California Public Employees’ Retirement System (CalPERS) has replaced BlackRock as the manager of a $1.1 billion apartment portfolio to consolidate its entire core multifamily apartment portfolio under a single partner, GID Investment Advisors LLC, an affiliate of The General Investment & Development Cos.
JER Partners Closes Sale of Immobel SA
JER Partners has closed the sale of a 25 percent shareholding in Immobel SA, a Belgian real estate development company, to Eastbridge Sarl, a privately held company based in Luxembourg, for a price between Ä35.68 and Ä35.56 ($49.20 and $49) per share.
Joint Treasure International Buys Beverly Hills Property
Joint Treasure International Ltd., a consortium of investors from Hong Kong and Singapore, has acquired an eight-acre site at 9900 Wilshire Blvd. in Beverly Hills, Calif.
Lennar Acquires Portfolio of Distressed Real Estate
Lennar Corp., a Miami-based home builder, has acquired $740 million in distressed real estate in separate transactions from three large financial institutions.
New York City Searches for REIT Managers
The $105 billion Teachers’ Retirement System of the City of New York and the $6.8 billion New York City Fire Department Pension Fund are searching for investment management firms to create and manage U.S. and global real estate equity securities portfolios for one or more of the systems.
PRP's U.S. Government Building Fund Has First Close
Washington, D.C.–based PRP has completed the first closing of its U.S. Government Properties Income & Growth Fund.