Institutional Real Estate Newsline
April 5, 2013: Vol. 21 No. 14Buy For $65.00 Add to Cart
REITs rise 8 percent in first quarter
Equity REITS posted a total return of 8.10 percent in first quarter 2013, slightly underperforming the S&P 500 Index’s 10.61 percent total return, according to the FTSE NAREIT All Equity REITs Index.
Arkansas Teachers invests $20 million in real estate fund
The $12.6 billion Arkansas Teachers Retirement System has invested $20 million in the LaSalle Income and Growth Fund VI.
Latitude Management raises $242.2 million for third fund
Latitude Management Real Estate Investors, formerly Legg Mason Real Estate Investors, has raised approximately $242.2 million for its value-added fund Latitude Management Real Estate Capital III, according to a filing with the Securities and Exchange Commission.
Northern Virginia apartment towers trade for $322.2 million
Equity Residential has sold Archstone Crystal Towers in Arlington, Va.’s Crystal City submarket for $322.2 million to Dweck Properties.
SEB raises $385 million from sale of three Berlin properties
SEB Asset Management AG has raised about €300 million ($385 million) selling three properties in Berlin on behalf of its ImmoInvest fund.
Tech, energy help real estate rebound
Growth in the technology and energy industries is adding extra pop to the commercial real estate rebound in the biggest U.S. cities as well as smaller ones.
Meadow Partners nears final close for second fund
Meadow Partners plans to hold a final close for Meadow Real Estate Fund II on April 15, 2013.
Deutsche acquires three West Coast commercial properties for $266 million
Deutsche Asset & Wealth Management, on behalf of three institutional investors, has acquired three West Coast commercial properties for $266 million.
Invesco holds €200 million final close for hotel fund
Invesco Real Estate has held a final close of its second hotel fund, Invesco European Hotel Real Estate Fund II, with approximately €200 million ($260 million) of equity.
AXA Private Equity raises €1.75 billion for third infrastructure fund
AXA Private Equity held a €1.75 billion ($2.2 billion) final close for its AXA Infrastructure Fund III in March 2013.
GIP to acquire terminals business
The liner carrier Mediterranean Shipping Co. has agreed to sell a 35 percent stake in its terminals business, Terminal Investment, to Global Infrastructure Partners (GIP) for more than $1.9 billion.
Eagle Rock plans April 30 final close for multifamily fund
Eagle Rock Advisors plans to hold a final close on April 30, 2013 for its debut fund.
LACERA acquires two office buildings in Seattle
The $39.2 billion Los Angeles County Employees Retirement Association (LACERA) has acquired two office buildings in the Union Station office complex in Seattle for $96.9 million.
DIF holds €800 final close
Independent fund manager DIF has held an €800 million ($1.0 billion) final close for its third infrastructure fund, DIF Infrastructure III.
Jason Kern joins LaSalle as CEO of Americas
LaSalle Investment Management has appointed Jason Kern as CEO, Americas. Previously, he was with HSBC.