Institutional Real Estate Newsline
October 10, 2011: Vol. 19, Number 41Buy For $65.00 Add to Cart
DRA Raises $1 Billion for Fund VII
DRA Advisors has completed the capital raising for its value-added fund, DRA Growth & Income Fund VII.
Equity International Closes Fifth Fund
Equity International has closed its fifth fund, Equity International Fund V, with $650 million in equity commitments, making it the firm’s largest fund to date.
GIM Forms $600 Million Partnership with KFH
Grosvenor Investment Management U.S. (GIM) has formed an investment partnership with Kuwait Finance House (KFH), a leading Islamic bank, to invest in up to $600 million of U.S. healthcare-related real estate.
HAIL and Edge Fund Advisors JV Purchases Stake in Bertelsmann Building
A joint venture between HSBC Alternative Investments Ltd. (HAIL) and Edge Fund Advisors has purchased the remaining 51 percent of the ownership stake in 1540 Broadway in Manhattan for $423.5 million from CBRE Investors.
Meyer Bergman, Canadian Fund Buy Czech Malls for €290 Million
A 50-50 joint venture between European real estate investment manager Meyer Bergman and the C$35.7 billion ($34 billion) Canadian pension fund Healthcare of Ontario Pension Plan (HOOPP) has acquired two shopping centers in the Czech Republic for approximately €290 million ($402 million) from Dutch shopping center developer Multi Corp.
OP&F Approves $110 Million into Real Estate Funds
The $11.2 billion Ohio Police & Fire Pension Fund (OP&F) has approved $110 million in commitments to real estate funds at its Sept. 26 meeting.
Oregon Commits $150 Million to Infrastructure
The $59.6 billion Oregon Public Employees Retirement System (OPERF), through its Oregon Investment Council (OIC), has hired infrastructure manager Global Infrastructure Partners II (GIP II), to manage a $150 million commitment.
SL Green Teams with Stonehenge to Acquire Retail/Residential Portfolio
SL Green Realty Corp. (NYSE: SLG), an office REIT focused on the New York City metropolitan area, has formed a venture with multifamily property operator Stonehenge Partners to acquire eight retail and multifamily properties for $416 million.
Taconic Raises $220 Million for Investment Fund
New York City–based commercial real estate owner and developer Taconic Investment Partners has closed on Taconic New York City Investment Fund, an investment fund with $220 million in committed equity from Taconic and several public pension funds.
Velocis Holds First Closing for Core-Plus Fund
Velocis Partners has held its first fund closing and met its first closing target amount of $41.2 million for its Velocis Fund.