Institutional Real Estate Newsline
October 15, 2012: Volume 20, Number 40Buy For $65.00 Add to Cart
Blackstone holds $13.3 billion close
The Blackstone Group has held a $13.3 billion final close for its opportunistic real estate fund, Blackstone Real Estate Partners VII (BREP VII).
Susan Hudson-Wilson passes away
Susan Hudson-Wilson, a pioneer in the commercial real estate industry, passed away on Oct. 5 at the age of 60.
Texas Retirement System commits $125 million
The $22.3 billion Employees Retirement System of Texas has committed $125 million to two real estate funds.
CarVal holds $205 million final close
CarVal Investors has closed its CVI Real Estate Value Fund III (RVF III) with $205 million of equity commitments.
CalPERS agrees to buy out partner in Chicago-area mall
The $245.3 billion California Public Employees Retirement System (CalPERS) has agreed to take full ownership of the Chicago area’s largest shopping center, Woodfield Mall in Schaumburg, Ill.
Shorenstein purchases 801 Gateway Blvd.
Shorenstein Properties has completed the purchase of 801 Gateway Blvd. from Torchlight Investors.
Actis exceeds $250 million fundraising goal
Private equity real estate investor Actis has raised $278 million for its second African real estate fund, Actis Africa Real Estate 2.
Excel Trust pays $262.8 million for shopping center portfolio
Excel Trust (NYSE: EXL) has agreed to pay $262.8 million for a portfolio consisting of five shopping centers and a 50 percent interest in a sixth mall. The seller was Unicorp National Developments.
Great Eagle Group enters New York City with hotel buy
Hong Kong–based Great Eagle Group has purchased Setai Fifth Avenue, a 214-room hotel at 400 Fifth Ave. in midtown Manhattan, for $229 million.
Ivanhoe Cambridge expands presence in Silicon Valley
Ivanhoé Cambridge, the real estate arm of Canadian pension fund Caisse de dépôt et placement du Québec, has partnered up with Shea Properties to build a 648-unit luxury rental property in San Jose.
AXA and NBIM buy German assets
AXA Real Estate Investment Managers and Norges Bank Investment Management have agreed to buy two buildings in Germany for a total of €784 million ($1 billion).
LaSalle converts Excelsior LaSalle Property Fund into REIT
LaSalle Investment Management has converted its Excelsior LaSalle Property Fund into a nontraded REIT.