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Institutional Real Estate Newsline

April 11, 2014: Vol. 22 No. 15

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  • Recent commercial real estate transactions

    The largest completed transactions included two offices properties in Boston and Washington, D.C., and an apartment complex in New York City. 

  • Walton Street launches first debt fund, receives TMRS commitment

    Walton Street Capital is marketing its first real estate debt vehicle, Walton Street Real Estate Debt Fund, and the Texas Municipal Retirement System approved a $100 million investment in the fund during its March meeting. 

  • Italian real estate group sells French assets for $1.7b

    Milan-based Risanamento SpA has sold six French properties for $1.68 billion to a joint venture between Chelsfield and The Olayan Group. 

  • GIC buys Tokyo property for $1b

    Singapore's GIC will buy Meguro Gajoen, an office building located in Tokyo, for $1.3 billion, or $751 per square foot. 

  • TH Real Estate replaces outlet mall fund

    Newly formed TIAA Henderson Real Estate has replaced the Henderson Outlet Mall Fund, which concluded its 10-year term in February 2014, with the European Outlet Mall Fund. 

  • CalPERS could invest up to $12b in real assets by summer 2015

    At an April 14 board meeting, the California Public Employees' Retirement System will review an asset allocation implementation plan that will allow the system to reach its new allocation targets, adopted in February 2014, by July 1, 2016, and its new real estate target by July 1, 2015. 

  • Gaw Capital buys Beijing complex for $928m

    Gaw Capital Partners has agreed to acquire Pacific Century Place, a Beijing residential and commercial complex. 

  • JDM Partners pays $550m for 12 properties

    JDM Partners has purchased 12 properties from Lone Star Funds for $550.1 million.  

  • Iowa to issue REIT RFP

    At an April 4 meeting, the $26.76 billion Iowa Public Employees' Retirement System approved a request to issue an RFP for a U.S. REIT strategies mandate. 

  • CEO of APREA resigns

    Peter Mitchell has resigned as CEO of the Singapore-based Asia Pacific Real Estate Association, effective July 1. Peter Verwer will succeed Mitchell. 

  • Texas C&D commits $50m to Carlyle

    The $23 billion Texas County & District Retirement System committed $50 million to Carlyle Realty Partners VII. 

  • Energy Capital holds $5b final close

    Energy Capital Partners has held a $5.043 billion final close for its Energy Capital Partners III, exceeding its $3.5 billion target. 

  • Activum holds $524m final close for European real estate fund

    Activum has held a $524 million final close for its Activum SG Fund III, which targets underperforming real estate-related assets in Europe.

  • Florida pension fund pays $186m for Manhattan office

    The $176.4 billion Florida State Board of Administration has bought 1370 Broadway, an office building in Manhattan. Here's an in-depth look at the deal.

  • Ohio commits $50m to Rockbridge

    The $24.6 billion Ohio Bureau of Workers' Compensation has committed $50 million to Rockbridge Hospitality Fund VI, a value-added fund managed by Rockbridge Capital that invests in both debt and equity in the U.S. hotel sector. 

  • FOMC minutes show uncertainty surround forward guidance

    The recently released minutes to the Federal Open Market Committee's March 18-19 board meeting show that while almost all participants agreed there was a need to scrap the "outdated" Evans rule (which set a 6.5 percent lower threshold for unemployment that determines how long the Federal Reserve will continue to suppress interest rates), there was uncertainty as to how the committee would update its forward guidance policy.

  • Confidence in Europe, its secondary markets, up in 2014

    After recording the best year for commercial real estate investment since 2007, investor confidence in Europe has skyrocketed in 2014, with many investors ready to scour secondary markets for higher yields once again, according to the <em>European Real Estate Investor Intentions Survey 2014,</em> by CBRE.  

  • U.S. retail looks to perform in 2014

    The expected addition of 2.7 million new jobs and GDP growth forecast at 2.5 percent to 3 percent in 2014 has retail market fundamentals all trending upward in 2014, according to Marcus & Millichap's 2014 National Retail Report.