With transaction volumes down 80% over the past year alone, Jones Lang LaSalle warns that US investor appetite would only start to return in mid-2010, and could take a generation to recover to the levels seen in 2007. However, foreign investors are starting to ramp up their strategies.
2 min read · 21 January 2013
Florida's state pension board has totally written off its $250m investment in Tishman Speyer's Stuyvesant Town/Peter Cooper Village deal, joining California's massive teachers' pension, which wrote its $100m investment in the deal to zero.
2 min read · 21 January 2013
The veteran real estate investor has reportedly launched a $625m credit fund to target distressed real estate securities. The vehicle, Zell Credit Opportunity Fund, has raised $125m to date, according to regulatory filings.
2 min read · 21 January 2013
Charter Hall, the Australian property fund manager established in 1991, is meeting investors’ concerns by giving them greater control over its freshly-launched Charter Hall Special Situations Office fund.
2 min read · 21 January 2013
The two real estate fund managers are turning to the public markets to raise capital for their next debt vehicles. Brookfield Realty Capital Corp. and Marathon Real Estate Mortgage Trust are targeting $500m and $300m respectively.
2 min read · 21 January 2013
Siguler Guff’s new managing director of real estate James Corl warns investors have to take a macro view of the asset class to take advantage of distressed opportunities. It comes as the firm hires Anthony Corriggio to help Corl build the real estate platform.
1 min read · 21 January 2013
The London-based property fund manager is reportedly targeting the British real estate market with its UK Value Fund. The firm has raised £90m to date.
1 min read · 21 January 2013
The $123.8bn California pension plan took a 50% write-down in its value-added/opportunistic real estate investments in the year to 31 March 2009. The pension has completely written off its equity in some funds, while others are currently reporting IRRs of more than -100%.
2 min read · 21 January 2013
Patricia Gerrick has resigned for undisclosed reasons after driving the state pension exposure to real estate and private equity to 5% respectively. The pension lost 14% of its value in the past year.
2 min read · 21 January 2013
The Singapore sovereign wealth fund says it will work more closely with the companies in which it has investments after changing its charter for the first time in seven years.
1 min read · 21 January 2013
