Evelyn Lee
The Iowa-based real estate arm of Principal Global Investors has purchased 2000 St. James Place on behalf of a consortium of South Korean investors.
The Boston-based real estate firm’s latest value-added fund is expected to close near its hard cap, which has been increased to $1.575 billion, during the first quarter.
The $39.2 billion pension plan will be issuing a request for proposals this week for one or more new separate account equity managers to each oversee an initial $200 million of capital.
The country is the top destination for foreign capital investing in real estate, as many overseas investors plan to increase their property holdings in the market in the coming year.
The Dallas-based private equity firm, which lately has focused on real estate investments in Europe, will purchase the vast majority of Wereldhave’s US properties.
The Connecticut-based real estate investment firm purchased the nine office properties from Wells Real Estate Investment Trust II.
The Massachusetts-based real estate investment manager, whose investors primarily have been high-net-worth individuals, is amassing capital for its fifth real estate fund from fund of fund managers and endowments for the first time.
The New York-based real estate fund manager plans to expand its investment activities in the US and Brazil over the next five years, spending approximately $1 billion of equity in each market. Additionally, it will open a new Los Angeles office early next year.
The A$80 billion Australian state fund will invest in the Boston-based real estate manager for the first time through a large single-investor vehicle and a commitment to the firm’s latest multifamily fund, which is slated for a first close by the end of the year.
The $19.3 billion pension plan projects that its portfolio in the asset class will more than triple in value by the end of 2013.