Zoe Hughes
The firm co-founded by Olmstead (pictured), Gille and Sagy is targeting $300m for its debut institutional vehicle, which is focused on value-added office investments in San Francisco, Portland and Seattle.
The Philadelphia-based firm has secured $100m from the New Jersey Division of Investment as it raises a co-investment vehicle to sit alongside its $2bn Fund VI. However, the co-investment fund will only be allowed to invest in new deals.
The McLean, Virginia-based firm has partnered with Formation Capital to buy six skilled nursing homes from healthcare provider Adventist.
The firm has acquired a 44% leased office property out of foreclosure after Seattle developer Michael Mastro was forced into bankruptcy, as well as a fully leased industrial asset in Fremont, California.
The bifurcation of global real estate markets has seen the spread between prime and secondary property yields and cap rates widen by up to 400-450bp, with more LPs expected to target the sector in developed markets in 2011, according to ING REIM's latest outlook report.
With twice as much deal activity taking place in the Asia Pacific region as anywhere else in the world, investors are keeping a close eye on transaction volumes as an indicator of what may be in store for Asia and its real estate markets. PERE Asia Supplement, December 2010/January 2011 issue
GI Partners, RREEF take over running the 47m sq. ft. CalEast portfolio on behalf of the California public pension following poor performance during the past three years. GI hires ex-KKR real estate head John Saer to run the deal.
As LPs shy away from commingled funds, an increasing number of GPs are tailoring their investment vehicles to suit investor needs. For Guy Jaquier and AMB Capital Partners, that’s always been par for the course.
The London-based multi-manager group has appointed Bart Coenraads as head of its operations in the Asia Pacific region, as it eyes increased secondaries, and some recapitalisation, opportunities.
The Chicago-based firm has sold 1501 M Street NW in the US capital less than 18 months after acquiring it at discount from CBRE Investors. The property was bought through JBC's $289m Fund III.