Institutional Real Estate Newsline
June 9, 2008: Vol. 15, No. 22Buy For $65.00 Add to Cart
CalSTRS to Add Infrastructure
The $164.6 billion California State Teachers’ Retirement System (CalSTRS) is considering adding infrastructure as an asset class.
Carlyle Closes Pan-European Property Fund
The Carlyle Group has closed Carlyle Europe Real Estate Partners III, a Pan-European private equity real estate fund, with $3.4 billion in equity commitments.
Delta Lloyd Fund Raises €96 Million in First Close
Delta Lloyd Asset Management, based in Amsterdam, has completed the first closing of the Delta Lloyd Property Fund, raising €96 million ($151 million) in equity from institutional investors.
- Duke JV to Invest $800 Million
KBS Launches Second Nontraded REIT
KBS Capital Markets Group, an affiliate of Newport Beach, Calif.–based KBS Realty Advisors, has launched KBS Real Estate Investment Trust II, a nontraded REIT offered through registered broker/dealers and investment advisers.
- Sovran Forms Self-Storage JV with Heitman Affiliate
Standard & Poor's Launches the S&P Asia Property 40 Index
Standard & Poor’s has launched the S&P Asia Property 40 Index; it’s comprised of the 40 listed Asian property companies that meet size, liquidity and local listing requirements.
Sunstone Sells Century Plaza Hotel for $366.5 Million
Sunstone Hotel Investors (NYSE: SHO) has sold the 726-room Century Plaza Hotel in Los Angeles for $366.5 million, or nearly $505,000 per room.
Trump Entertainment Resorts Sells Trump Marina Hotel Casino
Coastal Marina LLC has acquired Trump Marina Hotel Casino in Atlantic City, N.J., for $316 million. Donald Trump’s Trump Entertainment Resorts was the seller.
- UBS Wealth Management Forms $250 Million JV with Thomas Properties
Union Investment Real Estate AG Purchases Office Building in Herdon, Virginia
Hamburg, Germany–based Union Investment Real Estate AG has purchased a newly constructed office building in Herdon, Va.
Pirelli RE to Launch Opportunity Fund
Pirelli Real Estate’s board of directors has authorized the launch of its first European opportunistic contribution fund.
LACERA to Invest $50 Million in Asian Real Estate
The board of investments of the $41 billion Los Angeles County Employees Retirement Association (LACERA) approved a commitment of $50 million to ING Real Estate Asia Value Fund on May 28.