Institutional Real Estate Newsline
May 30, 2011: Vol. 19, Number 22Buy For $65.00 Add to Cart
Alaska Permanent Fund Adds $400 Million to Infrastructure
The $40 billion Alaska Permanent Fund Corp. will allocate another $400 million to infrastructure during its 2012 fiscal year and may search for new infrastructure managers, according to a statement by the fund’s board of directors.
American Assets Pays $92 Million for Office Portfolio
American Assets Trust (NYSE: AAT) has entered into an agreement to acquire the Lloyd District Portfolio, a portfolio of office buildings on more than 16 acres located in the Lloyd District of Portland, Ore., at a purchase price of $92 million.
Future Fund Continues to Grow Alternative Assets
In first quarter 2011, Australia’s Future Fund further increased its real estate, private equity and infrastructure portfolios, with overall assets rising to A$74.62 billion (US$78.68 billion) during the quarter.
GE Capital and Aberdeen Launch Multifamily Joint Venture
GE Capital Real Estate and Aberdeen Asset Management have launched a $400 million joint venture vehicle, The Tokyo Residential JV, to acquire studio and one-bedroom apartment properties in Tokyo during the next two years.
Invesco Real Estate Buys One Finsbury Circus From JV
One Finsbury Circus, a 210,000-square-foot office building in London, has been sold by a joint venture between Hermes Real Estate Investment Managers Ltd., on behalf of BT Pension Scheme, and clients of LaSalle Investment Management.
Japan's Economic Recovery Will Be Pushed Back to 2012 or 2013
The 4.4 percent GDP growth that Japan experienced in 2010 was the best economic performance the country had seen in years, according to a recent RREEF Research report, and economists had been predicting a soft landing with modest growth in 2011 — but that all changed when the Great Tohoku Earthquake occurred, registering the country’s highest magnitude earthquake ever recorded.
Mapletree Plans to Launch Three Property Funds
Mapletree Investments has plans to launch three property funds worth up to $2 billion.
ORIX Launches $200 Million Infrastructure and Technology Fund
Texas-based financial services firm ORIX USA has launched a $200 million infrastructure fund that will invest in public infrastructure in Texas along with early-stage technology projects, its original focus.
Texas TRS Commits Additional $200 Million to LaSalle
The $108 billion Teacher Retirement System of Texas (TRS) has committed an additional $200 million in a second round of equity capital to LaSalle Investment Management to invest in real estate co-investment opportunities around the globe.
Westport Capital and Tenacity Sell Office and Retail Tower
An affiliate of Westport Capital Partners and Tenacity Real Estate Group have completed the sale of a 317,000-square-foot office and retail building in Macau to an undisclosed buyer for HK$970 million ($125 million).