Pennsylvania SERS approves $30 million investment by Andrea Waitrovich The board of the $25.7 billion Pennsylvania State Employees' Retirement System (SERS) has approved a $30 million commitment to Hawkeye Scout Fund II.
Texas Teachers invests $550 million in real estate and infrastructure by Ross Dohrmann, released 7/15/13 The $116.1 billion Texas Teacher Retirement System (TRS) has committed a combined $550 million into two real estate funds and one infrastructure fund.
Ram Realty Partners III holds final close by Sara Kassabian Florida-based Ram Real Estate has held a $150 million final close for its Ram Realty Partners III.
Massachusetts pension plan searches for real estate manager by Ross Dohrmann The $655 million Norfolk County (Mass.) Retirement System (NCRS) has issued an RFP for a new private equity real estate manager.
Rising interest rates impact on REIT market in second quarter by Sara Kassabian The REIT market underperformed the broader equity market in the second quarter, with the NAREIT All Equity REIT Index posting negative returns of -2.13 percent while the S&P 500 Index returned 2.91 percent.
Recent commercial real estate transactions by Andrea Waitrovich The largest completed transactions included an apartment and office property in Manhattan.
SEC lifts ban on general solicitation by Andrea Waitrovich The Securities and Exchange Commission (SEC) voted 4 to 1 to lift an 80-year-old ban on advertisements of private offerings on July 10, 2013.
U.S. retail vacancy drops to its lowest level in four years by Ross Dohrmann The average vacancy rate for the U.S. retail sector has dropped to its lowest level in nearly four years.
IN-DEPTH LOOK: Shorenstein Properties acquires Redmond Town Center from Macerich for $185 million by Ross Dohrmann Shorenstein Properties has purchased the office portion of Redmond Town Center in Redmond, Wash., from Macerich. The six-building complex sold for $185 million, according to a July 2 article in the Puget Sound Business Journal.
Invesco raises $339 million for third fund by Andrea Waitrovich Invesco Real Estate has raised $339 million for its Invesco Real Estate Fund III.
Asia-focused fund exceeds $1 billion target in final close by Sara Kassabian Singapore-based Alpha Investment Partners Ltd. has confirmed its second Asia-focused fund has surpassed its $1 billion fundraising target in a recent final close.
IN DEPTH LOOK: Thayer Lodging Group acquires Ritz-Carlton hotel in downtown San Francisco for $161 million by Sara Kassabian Annapolis, M.D.–based Thayer Lodging Group has paid $161 million to Host Hotels & Resorts for the Ritz-Carlton hotel in downtown San Francisco.
Bridge Investment raises $482 million for opportunity fund by Ross Dohrmann Bridge Investment Group Partners has held a $482 million close for its second opportunistic fund, Real Estate Opportunity Capital Fund II.
Mesa West Real Estate Income III raises $677 million for third fund by Sara Kassabian Los Angeles-based Mesa West Capital has raised $677 million for its closed-end value-added fund Mesa West Real Estate Income Fund III.
Berkshire raises an additional $43 million by Andrea Waitrovich Boston-based Berkshire Group has raised an additional $43 million for its value-added vehicle Berkshire Multifamily Value Plus Fund III.
Metropolitan Real Estate closes three funds of funds by Sara Kassabian Metropolitan Real Estate Equity Management has held the final close for three of its value-added and opportunistic funds.
Recent commercial real estate transactions by Andrea Waitrovich The largest completed transactions included a Boston hotel and an apartment complex in Southern California.
UPDATE: Fir Tree raises $300 million for its third fund by Andrea Waitrovich Fir Tree Partners has raised more than $300 million for its third fund Fir Tree Real Estate Fund III, reaching more than half of its fundraising goal of $500 million.
CalPERS invests in two emerging managers through Canyon Catalyst Fund by Sara Kassabian The $258.6 billion California Public Employees Retirement System (CalPERS) has formed two joint venture through its emerging manager program Canyon Catalyst Fund, a $200 million fund with Canyon Capital Realty Advisors.
Jim Hime leaves ADIA by Sara Kassabian Jim Hime has stepped down as CFO of the real estate department at Abu Dhabi Investment Authority (ADIA), a United Arab Emirates (UAE) sovereign wealth fund.
