Institutional Real Estate Newsline
June 6, 2014: Vol. 22 No. 23Buy For $65.00 Add to Cart
Recent commercial real estate transactions
The largest transaction was an office property in Northern California.
Oregon PERF approves $425m in noncore real estate commitments
The $67.9 billion Oregon Public Employees Retirement Fund has approved $425 million in commitments to noncore real estate.
- LACERA increases real estate separate accounts, proposes updates to investment policy
Texas ERS commits $116m to European fund of funds
The approximately $25 billion Employees Retirement System of Texas has committed €85 million ($115.8 million) to Aberdeen European Opportunity Fund of Funds, managed by Aberdeen Asset Management.
U.K. housing prices spike
In a bit of good news/bad news, housing prices in the United Kingdom increased by 3.9 percent in May, the largest monthly jump in more than 11 years, according to data from Halifax, the United Kingdom’s biggest mortgage lender.
Olayan Group pays $1.5b for European and U.S. portfolios
The Olayan Group has completed two separate deals with its joint venture partners, totaling approximately $1.49 billion in sales price.
Ventas spends $3.5b in two transactions
Ventas has agreed to a pair of deals totaling $3.5 billion, expanding its ownership in the senior housing and medical sector.
- C-III raises $523m for Recovery Fund II
Colorado PERA seeks separate account manager
The $43 billion Colorado Public Employees’ Retirement Association has issued an RFP for a real estate separate account adviser.
Transaction volume increases in Benelux region
Investors have begun to review their attitude toward the Benelux region, inking major deals in Belgium and the Netherlands.
Texas Municipal commits $750m to mortgage-backed securities
The $22.8 billion Texas Municipal Retirement System has committed $750 million to RMBS/CMBS strategies (pending contract negotiations), divided among three separate managers.
GGP sells Southern California mall for $210m
Retail Opportunity Investments has purchased Fallbrook Shopping Center in Southern California for $210 million, or $239 per square foot, in cash. General Growth Properties is the seller.
Kilroy Realty to build $450m development in San Francisco
Kilroy Realty Corp. has paid $95 million, or $704 per square foot, for 1800 Owens St., 3.1-acre, fully entitled development site in San Francisco’s Mission Bay neighborhood. The seller was Mission Bay Development Group.
John Buck Co. markets fifth fund
The John Buck Co. has a fifth fund in the market. JBC Fund V aims to raise approximately $100 million. A first close is targeted in September, and the firm will hold a final close in September 2015.
Two NYC properties valued at $645m change hands
An office asset and an apartment property in Manhattan have sold for an approximate total property value of $645 million.