In the year to the end of June, Virginia Retirement System’s real estate portfolio returned -28.3% compared to a 19.8% benchmark. The pension has lost $12.2bn in value in 12 months.
2 min read · 21 January 2013
Just $16.2bn has been raised for real estate opportunity funds worldwide in H1 2009, according to Probitas Partners. Much of the negative investor sentiment falls at the door of “legacy real estate funds”, says partner Kelly DePonte.
2 min read · 21 January 2013
The firm, backed by KKR, Five Mile and Goldman Sachs, has already agreed to sell its US mortgage business to Berkshire Hathaway and Leucadia National.
3 min read · 21 January 2013
A European-listed fund managed by Denver-based ProLogis is altering its legal structure as a result of the credit crunch.
2 min read · 21 January 2013
Having already corralled $4 billion of equity commitments for a global opportunity investing consortium, the Toronto-based firm has swollen its kitty by a further $1bn as two more investors sign up.
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 deal will give Japan Logistics Fund the right to buy a 50% stake in ProLogis’ new developments in Japan. It is part of the Denver fund manager’s efforts to delever its balance sheet. ProLogis has 1m sq. m. of distribution space under construction in Japan.
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
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
