Fundraising

Philadelphia-based private equity real estate firm Rubenstein Partners has hired the former chief investment officer of Trizec to help acquire assets for its debut fund.

The Greenwich, Connecticut-based private equity real estate firm has paid a reported $825 million for the Pacific Shores Center, a $500-million development that saw half of its buildings go vacant in the wake of the dot-com collapse.

A new JPMorgan survey has found that roughly one-third of US public pension funds will increase their allocations to real estate.

The New York City-based private equity real estate investor has raised $590m for its second vehicle focused on the North American office market.

Private equity firms RREEF and H&Q Asia Pacific have teamed up with Hilton Hotels to build more than 20 hotels in China.

One of the largest financial services companies in the world is adding to the wall of money chasing European real estate with the final closure of its first pan-European fund.

Normandy Real Estate Partners has acquired the Starco Properties portfolio in Northern Virginia—right on the heels of picking up 13 properties sold by Morgan Stanley out of Glenborough REIT.

The financial services giant has taken a 51% stake in a Turkish REIT.

Los Angeles-based Colony Capital is backing management in a $5bn take-private of casino group Station Casinos.

Warburg Pincus has acquired a 20 percent stake in 7 Days, a budget hotel chain in China. The investment has been made from the firm’s first global real estate fund which closed on $1.2bn in October.