Institutional Real Estate Newsline
January 28, 2008: Vol. 15, No. 4Buy For $65.00 Add to Cart
Crescent Hotels & Resorts Invests $600 Million in Capital for Hotel Acquisitions
Crescent Hotels & Resorts plans to invest $600 million in capital for hotel acquisitions in 2008 with the equity raise of a second fund.
Open-End Fund Acquires Stake in Paris Skyscraper
Encore+, a Pan-European open-end fund managed by LaSalle Investment Management and Morley Fund Management, has acquired an interest in eight fully leased floors of Tour Franklin, an office tower in the Paris submarket of La Défense, for €84 million ($123 million).
Pennsylvania SERS Invests $50 Million in Real Estate
The board of the $35 billion Pennsylvania State Employees’ Retirement System (SERS) has approved a follow-on commitment of up to $50 million to Westbrook Real Estate Partners VIII LP, a fund sponsored by Westbrook Partners.
Positive Outlook for Commercial Real Estate Hiring and Compensation in 2008
The 2008 job outlook for real estate professionals — particularly in the commercial sector — remains positive, notes a new survey conducted by FPL Advisory Group, a strategic recruitment and advisory firm.
- RREEF Buys Stake in Indian Real Estate Development Company
Scandinavian Hotel Fund Raises $428 Million in First Close
Helsinki-based CapMan PLC has held an initial closing of CapMan Hotels RE Ky, a private equity real estate fund, with €292 million ($428 million) in equity.
Singapore Commits $300 Million to U.S. REITs
GIC Real Estate, the real estate investment arm of the Government of Singapore Investment Corp., has committed $300 million to Rosen Real Estate Securities LLC to invest in U.S. public real estate securities.
- Starwood Hotels to Sell Italian Assets