The Chicago-based investment manager is buying a property for close to €100 million from UK insurer Standard Life Investments.
The Houston-based developer and fund manager has teamed with the real estate arm of the National Bank of Abu Dhabi as it seeks to increase its exposure to the region.
The Chicago-based value-added fund manager has closed Heitman European Property Partners IV on €505m.
A 1994 RFP from the pension to invest in inner-city neighbourhoods received a single proposal – from a firm controlled by Victor MacFarlane, who has now ‘resigned’ as the manager of the closely watched California Urban Investment Partners.
General partners have to ‘open their minds’ to investor concerns about fees, control and transparency while limited partners have to move away from the ‘who’s to blame’ conversations, according to David Hodes and Doug Weill.
New York’s highest court finds that Tishman, BlackRock, and previous owner MetLife, improperly deregulated rents at the Manhattan complex. Tenants who brought the case are claiming back rent and damages of up to $600m.
The São Paulo-based firm raised more than half the capital since September 2008, targeting North American and European investors. The firm will focus on office and affordable housing developments in Brazil.
In the year to the end of June 2009, opportunistic real estate funds returned -50.3% to investors, compared to -34.4% for closed-ended value-added funds, according to the latest NCREIF/Townsend performance figures.
The property management arm of British insurer L&G has revealed it has snapped up more than 9 assets in the retail, office and industrial class.
The $200bn pension’s senior portfolio manager for infrastructure has hired two additional portfolio managers under him, Christine Yokan and Todd Lapenna.