Institutional Real Estate Newsline
September 1, 2008: Vol. 15, No. 33Buy For $65.00 Add to Cart
Cogdell Spencer, Northwestern Mutual Form $350 Million JV
Cogdell Spencer (NYSE: CSA) and Northwestern Mutual have formed a joint venture, known as CSA Medical Partners LLC, to acquire approximately $350 million medical office buildings and other healthcare facilities nationwide, predominantly associated with not-for-profit healthcare systems and large physician-owned clinics.
Global Transaction Volume Slows in First Half of 2008
Global transaction volume was $306 billion in the first half of 2008 with nearly 9,000 properties sold, each measure about 50 percent less than during the same period in 2007, according to Real Capital Analytics’ July/August Global Capital Trends report.
Herald Fund Sells Dutch Retail Portfolio
Henderson Global Investors’ Herald fund, a €1 billion ($1.5 billion) shopping center fund, has closed on the sale of a five-property portfolio of shopping centers in the Netherlands for €85.3 million ($125.2 million).
Land Securities Sells Stake in London Property
Land Securities has sold a 50 percent interest in a London property to Liberty International PLC for £107.75 million ($195.81 million).
Morgan Stanley, Ontario Teachers Acquire Energy Firm
Morgan Stanley Infrastructure and the C$108.5 billion ($107.1 billion) Ontario Teachers’ Pension Plan have completed their acquisition of SAESA Group, a Chilean electricity distribution, transmission and generation company.
PSERS Commits $775 Million in Value-Added Real Estate
The $67.4 billion Pennsylvania Public School Employees’ Retirement System (PSERS) has committed a total of up to $775 million to four value-added real estate funds.
SHUAA Capital Holds First Closing with $240 Million
SHUAA Capital Saudi Arabia has held the first closing of SHUAA Saudi Hospitality Fund I with 900 million riyals ($240 million) in equity commitments from regional, institutional and individual investors.
Unite Group Sells Student Housing Assets
Unite Group PLC has sold 11 U.K. student housing assets for £178.6 million ($322 million) in two separate transactions.
- Senior Housing Properties Buys Health and Wellness Centers for $100 Million
- Equity Residential Closes on $550 Million Secured Loan