Evelyn Lee
The Los Angeles-based real estate fund manager’s investment in a new low- and middle-income housing platform targeting the São Paulo metropolitan area represents the firm’s seventh housing joint venture in Latin America in the past year.
The Los Angeles-based fund manager, through a joint venture with Capital & Regional, has acquired the Kingfisher Shopping Centre for £130 million.
Drucilla Richards, who previously helped to recruit 12 employees to the New York-based real estate investment firm, has now joined the company as a managing director of investor relations and capital raising. She is one of eight other real estate-focused hires that have or will join the company this year.
The investment management subsidiary of the US insurance company has allocated capital to core real estate vehicles sponsored by Morgan Stanley, Clarion and Invesco as it pursues an income-focused real estate strategy.
Investors at the PERE Global Investor Forum 2012 in Los Angeles spoke about pursuing more tailored options for deploying their capital in the asset class. Many GPs are paying attention. Those still not, should be.
The number of new closed-end real estate funds being launched is on track to reach its highest level in seven years at a time when the amount of investor capital going into such vehicles is dropping, according to research presented by The Townsend Group at the PERE Global Investor Forum 2012 in Los Angeles.
Despite a greater shift toward core investments, investors said they were leaving the door open for opportunistic strategies in real estate, albeit with less of an appetite for leverage.
The $80.4 billion pension plan has approved equity commitments to Principal Enterprise Capital and Aevitas Property Partners to help expand its investments in private real estate operating companies.
The New York-based private equity and real estate giant’s first-quarter earnings call revealed the relative strength of its real estate platform over private equity, particularly on the fundraising front.
The New York-based investment management firm’s debut offering attracted $900 million in equity from limited partners such as Singapore sovereign wealth fund Temasek, but it fell short of its $1 billion goal.
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