Transactions | May 6, 2014 Savanna and KBS purchase Manhattan office tower for $261.1m by Andrea Waitrovich Savanna Partners has acquired 110 William St., located in Manhattan, in a joint venture with KBS Capital Advisors for $261.1 million.
Transactions | May 6, 2014 Blackstone JV buys stake in Bangalore office park by Andrea Waitrovich A 50-50 joint venture between The Blackstone Group and Embassy Group, known as Embassy Office Parks, has acquired a 60 percent partial interest in a 106-acre business park in Bangalore, India.
Transactions | May 6, 2014 Thor pays $485m for Manhattan office by Andrea Waitrovich Thor Equities has purchased the Gucci Building in Manhattan for approximately $485 million, or $4,205 per square foot. The seller was Gucci America.
Investors | May 6, 2014 Ohio Police & Fire commits $35m to timber by Reg Clodfelter In an ongoing effort to increase exposure to the timberland sector, the Ohio Police & Fire Pension Fund has committed $35 million to Forest Investments Associates, adding to a past allocation to the firm of $100 million.
Three U.S. REITs raise a combined $747m in 2014 IPOs by Reg Clodfelter To date, three U.S. REITs have gone public in 2014, matching the number of IPOs at this time last year and raising a combined $747.2 million.
Investors | May 5, 2014 Oregon commits $300m to value-added real estate by Reg Clodfelter The $67.9 billion Oregon Public Employees Retirement Fund has committed $100 million each to three value-added funds.
Research | May 2, 2014 ODCE returns down, but vacancies hit post-GFC low by Reg Clodfelter Open-end core funds produced the lowest returns since 2012 in the first quarter, but the total occupancy rate hit a level it has not achieved since fourth quarter 2007, according to the National Council of Real Estate Investment Fiduciaries, which released the first quarter results for the NCREIF Open-end Diversified Core Equity index.
Fundraising | May 2, 2014 Berkshire raises $396m for multifamily fund by Reg Clodfelter Berkshire Property Advisers has raised $396.1 million for its domestic multifamily fund, Berkshire Multifamily Value Plus Fund III, according to a filing with the SEC.
Fundraising | May 2, 2014 Portfolio Advisors raises $195m for fifth fund by Andrea Waitrovich Portfolio Advisors has raised $195 million for its fifth real estate fund, Portfolio Advisors Real Estate Fund V, according to a filing with the SEC.
Investors | May 2, 2014 Illinois Muni commits $208m to non-U.S. real estate by Andrea Waitrovich The $33.7 billion Illinois Municipal Retirement Fund approved commitments of $208 million to three commingled real estate funds at its April 24 meeting.
Transactions | May 2, 2014 Recent commercial real estate transactions by Andrea Waitrovich The largest transactions included a retail asset and an industrial property in New York City, and an office investment in San Francisco.
Fundraising | May 1, 2014 DRC has $820m final close on European debt fund by Reg Clodfelter London-based DRC Capital has had a £485 million ($820 million) final close on its European Real Estate Debt Fund II, according to a filing with the SEC.
Transactions | May 1, 2014 Apollo buys 35 properties in Europe by Andrea Waitrovich Apollo Global Management has purchased 18 European hotels and 17 Germany-based offices.
Investors | May 1, 2014 Wisconsin commits $80m to core JV with Essex by Reg Clodfelter The State of Wisconsin Investment Board and Essex Property Trust have each committed $80 million to a joint venture titled Wesco IV, the fourth in a series of joint ventures between the two.
Transactions | May 1, 2014 Kimco completes 24-property acquisition for $270 million by Andrea Waitrovich Kimco Realty Corp. has purchased a 24-property, 1.4 million-square-foot retail portfolio for $270 million.
Research | Apr 30, 2014 Malaysia increases exposure to real estate and infrastructure by Reg Clodfelter The $179.8 billion Malaysian Employees Provident Fund has increased its allocation to real estate and infrastructure by approximately $1.8 billion and invested an additional $7.7 billion in overseas markets, according to its annual report.
Fundraising | Apr 30, 2014 Oaktree raises $678m for debt fund by Reg Clodfelter Oaktree Capital Management has raised $678 million for its $700 million debt fund, Oaktree Real Estate Debt Fund, according to a filing with the SEC.
Fundraising | Apr 30, 2014 Och-Ziff raises $1b for third fund by Andrea Waitrovich Och-Ziff Real Estate Advisors has raised $1 billion for its Och-Ziff Real Estate Fund III, according to filings with the SEC, achieving its fundraising target.
Investors | Apr 29, 2014 Japan's GPIF continues to overhaul strategy and governance by Jennifer Molloy Japan's $1.3 trillion Government Pension Investment Fund has added three members to its investment committee, which is expected to have greater authority than before.
Transactions | Apr 29, 2014 Starwood Hotels sells Paris hotel for $413m by Andrea Waitrovich Starwood Hotels & Resorts has sold Le Meridien Etoile Hotel, a 1,050-room hotel in Paris, to U.S. investment firm Mount Kellett Capital Management for $413.2 million, or $403,162 per room.
