Transactions | May 20, 2014 Kildare buys Mars portfolio for €1b by Andrea Waitrovich Deutsche Bank has sold the remains of its Mars Fixed I Loan portfolio of distressed German assets for €1 billion ($1.37 billion) to Kildare Partners.
Transactions | May 19, 2014 Blackstone Group to sell five Boston high-rise towers for $2b by Andrea Waitrovich The Blackstone Group has agreed to sell five Boston-area high-rise office towers to a venture led by Oxford Properties Group, the property investment arm of the Ontario Municipal Employees Retirement System, for approximately $2.1 billion.
Transactions | May 19, 2014 Google pays $250m for Northern California office campus by Andrea Waitrovich Google is to buy a 397,510-square-foot office park in Mountain View, Calif., for approximately $250 million, or $626 per square foot.
Transactions | May 19, 2014 SL Green acquires partner's interest in NYC property by Andrea Waitrovich SL Green Realty Corp. has completed its purchase of a 49.4 percent interest in the Citigroup headquarters building in Manhattan from its joint venture partner.
Investors | May 19, 2014 San Diego commits $50m to opportunistic Asian real estate by Reg Clodfelter The $6.5 billion San Diego City Employees' Retirement System is looking to invest in high-yielding Asian real estate, committing $50 million to LaSalle Investment Management's Asia Opportunity Fund IV.
Fundraising | May 19, 2014 AG Co. holds $1b final close for third fund by Andrea Waitrovich Angelo, Gordon & Co. has held a $1.026 billion final close for AG Net Lease Realty Fund III on April 8.
Investors | May 16, 2014 MetLife provides $206m in financing to Greystar by Reg Clodfelter MetLife has provided an affiliate of U.S.-based Greystar Real Estate Partners with a senior debt acquisition financing package worth £122.8 million ($206 million).
Transactions | May 16, 2014 Recent commercial real estate transactions by Andrea Waitrovich The largest transaction was in Boston.
Transactions | May 15, 2014 IN-DEPTH: Blackstone buys Vegas resort for $1.7b by Andrea Waitrovich The Blackstone Group has agreed to pay $1.7 billion to Deutsche Bank for The Cosmopolitan of Las Vegas.
Research | May 15, 2014 Hotel market even more active than projected by Reg Clodfelter After hotel transactions in the Americas shot up by 30 percent to $24 billion in 2013, the market was forecast to grow even more in 2014, with Jones Lang LaSalle projecting a further 15 percent growth in transaction volume across the Americas to $28 billion, which would qualify as the third most active year on record.
Investors | May 15, 2014 Health Care REIT invests $386m in 10-property portfolio by Andrea Waitrovich Health Care REIT has invested $386 million to acquire a 47 percent joint venture interest in a premier-quality, West Coast senior housing portfolio managed by Senior Resource Group.
Transactions | May 15, 2014 IN-DEPTH: AXA JV pays €475m for office building in Belgium by Andrea Waitrovich AXA Real Estate Investment Managers, with its joint venture partner ATP, has acquired the shares of the company owning the North Galaxy, a prime office building in Brussels, from Cofinimmo SA.
Investors | May 14, 2014 Update: Washington commits $400m to tangible assets, considers $150m more by Reg Clodfelter The Washington State Investment Board has committed $400 million, divided between two commitments, to tangible assets, and will vote on third commitment to tangible assets of up to $150 million next month.
Investors | May 14, 2014 IN-DEPTH: Brookfield enters into JV with MetLife on Denver office property by Andrea Waitrovich Brookfield Office Properties has entered into a 50-50 joint venture partnership with MetLife Real Estate Investors for the ownership of the Republic Plaza office building in Denver.
Investors | May 14, 2014 Texas Teachers commits $200m to value-added real estate by Reg Clodfelter The $126.1 billion Teacher Retirement System of Texas has committed $200 million to CBRE Strategic Partners U.S. Value 7.
Fundraising | May 14, 2014 Wheelock holds $625m close for opportunistic fund by Andrea Waitrovich Wheelock Street Capital has held a $625 million final close for its second real estate fund.
Fundraising | May 13, 2014 2014 fundraising off to a great start by Denise Dechaine Fundraising activity started the year with a bang as 23 funds wrapped up their marketing efforts in the first quarter with an aggregate $21.7 billion, according to data collected by the Institutional Real Estate FundTracker database.
Investors | May 13, 2014 NYSTRS invests $100m in real estate, renews REIT managers by Reg Clodfelter The $104.3 billion New York State Teachers' Retirement System was active with its real estate portfolio at a recent board meeting, investing $100 million in a separate account with Grosvenor Capital Management Customized Fund Investment Group and renewing agreements with three of its REIT/REOC managers.
Research | May 13, 2014 Open-end funds down in first quarter by Reg Clodfelter Open-end funds had a 2.62 percent return in the first quarter 2014, a year-over-year drop of 10 basis points and a 69 basis point drop from fourth quarter 2013, according to the National Council of Real Estate Investment Fiduciaries, which has released the first quarter results for the NCREIF Fund Index - Open End.
People | May 13, 2014 Clarion Partners founder retires by Andrea Waitrovich Frank Sullivan, one of the founders of Clarion Partners, has plans to retire as managing director at the end of the month.
