Managers

The Atlanta-based multifamily specialist has received its first sizeable mandate to seek out Class A and B+ multifamily real estate throughout the Southeast and mid-Atlantic regions in the US.

The San Francisco-based firm has garnered $203 million in equity commitments on behalf of its KHP Fund III, which will be used to target hotel properties in North America.

After securing backing from local pension plans, the joint venture between first-time fund manager Pienssa and developer Prodesa is seeking capital from US investors.

The Minneapolis-based alternative investment manager has provided $421 million in US and Canadian properties towards the IPO of Agellan Commercial REIT, giving CarVal a 26.5 percent interest in the new Canadian REIT.

The global head of real estate at The Blackstone Group told delegates at PERE’s sixth annual conference how the firm’s competitors have dissipated just as the world’s real estate markets throws up compelling opportunities.

The $21 billion state workers compensation fund continues to invest in non-core real estate by committing $50 million to Los Angeles-based Latitude Management’s third value-added real estate fund.

Morgan Stanley is reportedly hitting the fundraising trail for another global real estate opportunistic fund in a major strategy rethink having first considered raising separate pan-regional funds.

A first open-ended global core property fund launched this week by Tokio Marine is an early sign of Japanese institutions giving real estate overseas an overdue taste.

In a rare foray into alternative real estate assets in Asia, the Chinese state-owned conglomerate and Dutch pension fund manager have each committed $120 million to an investment vehicle focused solely on car parks in China.

The real estate investment management business of the Tokyo-based insurance giant has mandated The Townsend Group to advise it on investments in open-ended funds in the world’s core real estate markets.