Institutional Real Estate Newsline
October 24, 2011: Vol. 19, Number 43Buy For $65.00 Add to Cart
Grosvenor Residential Fund Fully Invests $100 Million
The $100 million Grosvenor Residential Investment Partners I (GRIP), sponsored by Grosvenor Fund Management of Philadelphia and KeyCorp Fund Management Group, an affiliate of KeyCorp, has fully invested its capital.
Jersey City Office Sells for $377.5 Million
The Multi-Employer Property Trust (MEPT) and Bentall Kennedy, real estate adviser to MEPT, have purchased Newport Tower, a 1.1 million-square-foot, 36-story office tower in Jersey City, N.J., for $377.5 million. The seller was Brookfield Office Properties (NYSE: BPO).
KAREA Exceeds Target on Closing of Second Fund at $575 Million
Kayne Anderson Real Estate Advisors (KAREA), which invests in specialized real estate sectors with a primary focus on student housing, has closed its second fund, Kayne Anderson Real Estate Partners II (KAREP II) at $575 million.
OMERS, CPPIB Form Partnership to Develop High-Rise
Two of Canada’s largest pension plans, the C$153.2 billion ($151.2 billion) Canada Pension Plan Investment Board (CPPIB) and Oxford Properties Group, the real estate arm of the C$53 billion ($52 billion) Ontario Municipal Employees Retirement System, have entered into a new joint venture to develop a 30-story, class A, LEED Gold office tower in Toronto.
Parmenter Realty Partners Acquires Two New Properties
Parmenter Realty Partners has acquired 160 Clairemont, a 121,686-square-foot class A office building located near Atlanta, and Woodland Park Plaza, a 225,727-square-foot, 68 percent leased office building located in near Houston.