Institutional Real Estate Newsline
January 7, 2008: Vol. 15, No. 1Buy For $65.00 Add to Cart
AIMCO, JPMorgan Form $726 Million Multifamily JV
Apartment Investment & Management Co. (AIMCO) (NYSE: AIV) has formed a joint venture with a fund managed by JPMorgan Asset Management to allow for the co-ownership of three multifamily properties with 1,382 units located in west Los Angeles.
Forestar Real Estate Group Becomes An Independent Company
Forestar Real Estate Group has completed its spin-off as an independent company from Temple-Inland Inc. Forestar began trading on the New York Stock Exchange Dec. 31, 2007, under the ticker symbol FOR (seeIREN, 11/12/07).
Royal Invest Buys 18 Commercial Assets in Europe for €100 Million
Royal Invest International Corp. has acquired 18 class A commercial properties in the Netherlands and Germany for approximately €100 million ($147.5 million) through its European subsidiary, Royal Invest Europe BV, with financing from the Bank of Scotland. The commercial properties, which were purchased from multiple sellers, comprise roughly 992,647 square feet.
Hines, RREEF Acquire San Francisco Office Complex
Hines, in partnership with RREEF’s Real Estate Opportunity Fund, has acquired Hawthorne Plaza, a two-building office complex in the south of San Francisco’s Financial District, from TMG Partners and Farallon Capital Management for an undisclosed amount.
IDR Launches Real Estate Fund of Funds
Investors Diversified Realty (IDR), an independent fund of funds real estate management firm, is currently raising Investors Diversified Realty Fund I.
RREEF to Buy Milan Office Building for €100 Million
RREEF Real Estate has agreed to acquire an office property in Milan for €100 million ($147.5 million) from Patrimonio Uffici, a fund managed by Pirelli & C. Real Estate Opportunities SGR S.p.A.