Research | Jul 21, 2020 CBRE forecasts a strong recovery for U.S. hotels in 2021 and 2022 by Andrea Zander CBRE forecasts a strong recovery for U.S. hotels in 2021 and 2022, with RevPAR (revenue per available room) climbing back to pre-crisis levels by 2023.
Investors | Jul 21, 2020 Texas Teachers plans to invest $4.2b in real estate in 2020 by Andrea Zander The $148.1 billion Texas Teacher Retirement System has plans to commit approximately $4.2 billion to its real estate exposure, with 50 percent in principal investments, or co-investments.
Investors | Jul 21, 2020 CalSTRS real estate portfolio posts above benchmark by Andrea Zander The California State Teachers’ Retirement System (CalSTRS) reported its investment portfolio returned 3.9 percent net of fees for the fiscal year ending June 30, 2020, and recorded the year-end fund value at $246 billion.
Investors | Jul 21, 2020 China to spend $60b on data centers by Andrea Zander China has plans to spend $60 billion on data centers this year, with demand driven by 5G, the Internet of Things, industrial digitization and digital finance, reported Asia Times Financial.
People | Jul 21, 2020 Former CBRE Global Investors CEO named Schroders global head of real estate by Released Schroders Private Assets has appointed Sophie van Oosterom to global head of real estate to oversee the firm’s direct and indirect real estate portfolio.
Transactions | Jul 21, 2020 Hines secures financing package for development in Copenhagen by Released Hines has secured a large debt-financing package on behalf of The Trinity Quarter, its landmark hotel and retail redevelopment in the heart of Copenhagen.
Transactions | Jul 21, 2020 U.S., Singapore investors invest in Blackstone-backed second Indian REIT by Andrea Zander Mindspace Business Parks REIT, owned by K Raheja and Blackstone Group, has raised approximately $150 million from GIC, the Singapore-based sovereign wealth fund.
People | Jul 20, 2020 Matthew Lunt joins CA Immo as head of asset management Austria and CEE by Kali Persall CA Immo has named Matthew Lunt as head of asset management Austria and Central and Eastern Europe.
Transactions | Jul 20, 2020 Harbor Group sells Kansas City apartments for $81m by Andrea Zander Harbor Group International has sold Coach House, an 807-unit garden-style multifamily property in Kansas City, Mo., for $81 million.
People | Jul 20, 2020 Purpose Investments renames real estate fund, appoints new managers by Kali Persall Purpose Investments Inc. an asset management company with more than $9 billion under management, has announced several changes to its Purpose Duration Hedged Real Estate Fund to more accurately reflect the fund’s new investment strategy.
Investors | Jul 20, 2020 Blackstone launches second Indian REIT by Andrea Zander Mindspace Business Parks REIT has filed its final offer document with markets regulator Securities and Exchange Board of India (SEBI).
Transactions | Jul 20, 2020 Chuang’s Consortium International acquires redevelopment site in Hong Kong by Andrea Zander Chuang’s Consortium International has acquired full ownership of No. 20 Gage Street, and about 88.9 percent and 87.5 percent ownership of No. 16 and No. 18 Gage Street in Hong Kong, respectively.
Transactions | Jul 20, 2020 L.A. tower sells for $430m by Andrea Zander Beringia Central, an indirect wholly-owned subsidiary of OUE Limited, the Singapore-based property developer controlled by Indonesian conglomerate Lippo Group, has agreed to sell the iconic U.S. Bank Tower in Los Angeles for $430 million.
Fundraising | Jul 20, 2020 Brookfield raises $300m for new residential fund by Kali Persall Brookfield Asset Management has launched a new real estate fund.
Transactions | Jul 20, 2020 L&G commits to major Edinburgh regeneration project by Released Legal & General, on behalf of the L&G U.K. Property Fund, will invest over £50 million (€55 million/$63 million) into a major regeneration project in Princes Street, Edinburgh, Scotland.
Transactions | Jul 20, 2020 Chancerygare and Hines JV submits plans for industrial development in Cheshire by Released Chancerygare and Hines have submitted plans to speculatively build 115,000 square feet of industrial and warehousing space in Warrington, Cheshire, United Kingdom.
Transactions | Jul 20, 2020 Nuveen Real Estate makes Danish investment debut by Released Nuveen Real Estate has agreed to acquire Campus, Copenhagen.
Transactions | Jul 20, 2020 PATRIZIA U.K. launches new industrial mandate with €41m acquisition by Released PATRIZIA has acquired a multi-let industrial estate near Maidstone, United Kingdom.
Research | Jul 20, 2020 Poland retail: New opportunities for convenience centers and retail park developers by Released The outbreak of the pandemic has certainly slowed construction activity. Nevertheless, in the first half of 2020, developers in Poland completed nearly 148,000 square meters (1.6 million square feet) of retail space in large-scale projects, according to JLL.
People | Jul 20, 2020 Prelios SGR selects head of new asset management unit by Kali Persall Prelios SGR, the management company of Italy’s Prelios Group, has appointed Piergiulio Dentice di Accadia as head of the company’s new asset management unit, reporting directly to CEO Patrick Del Bigio.
