North America

The following tidbits give a further glimpse into the character of one of the best-known investor names in private real estate.

Hong Kong’s AIA, Malaysia’s KWAP and Employees Retirement System of Texas are among those looking to prioritize opportunities in the US.

CalSTRS’ head of private markets pushed for big changes during his 20-plus years at one of the world’s largest property investors. He is not done pushing yet.

Pollack will be joining the firm at a time when alternative lenders are expected to be able to significantly increase their market share.

The Dallas-based manager closed the 10th fund in its flagship value-add series on $3.1bn, a 35% increase on the previous fund.

Investors may be amenable to investment period extensions in today’s climate, but lengthening the fund term could have more serious implications.

Banks’ commercial real estate loan loss provisions and managers’ cash reserves are under the microscope. But calls for prudence are too little, too late.

Most assets need an additional 15-20% in reserves to address refinancing issues, according to the advisory firm’s co-founder.