Evelyn Lee
The largest country in Latin America has become a much costlier place to do business than the US’ neighbor to the south, but the high costs still offer a major benefit to investing in Brazil.
Terrafina, the Mexican REIT managed by Prudential Real Estate Investors, will become the largest Mexican industrial real estate owner after it completes the acquisition from Kimco Realty and American Industries.
The real estate arm of the Ontario Teachers’ Pension Plan will invest $150 million in Terranum Corporate Properties, one of the portfolio companies of Equity International.
America’s largest pension plan has agreed to acquire an interest in the Metropolis shopping center in Moscow, three months after Morgan Stanley acquired the property in the largest-ever commercial real estate deal in Russia.
The $72.76 billion pension plan has made new commitments to Perella Weinberg and M&G Investment Management as it seeks to increase its real estate exposure in Europe.
The former asset management unit of AIG has recruited Wael Aburida to lead its private equity and real estate team in the Middle East, North Africa and Turkey.
The $160.4 billion pension plan intends to add more senior investment professionals, particularly in alternatives, and rely less on outside consultants for due diligence and underwriting in the future.
The $40.5 billion pension plan has allocated $200 million each to three firms that have been selected for a real estate equity manager mandate.
The $14.85 billion pension system plans to conduct a search for new advisory firms, including potentially its first real estate-focused consultant.
Despite the greater scarcity of traditional real estate investment opportunities, the Los Angeles-based private equity real estate firm still remains bullish about investing in the asset class, particularly in areas of capital dislocation.