Friday SWFI News Roundup, July 1, 2016
Indiana Public Retirement System Selects BlackRock for Industrial REIT Mandate
The Indiana Public Retirement System (IPRS) selected BlackRock for a US$ 100 million passive investment mandate to invest in industrial real estate investment trusts (REIT). BlackRock will be using the FTSE NAREIT Custom Industrial 25% Capped Index as a benchmark.
JPMorgan and Lone Star Funds Acquire Propertize BV
A joint venture between JPMorgan Chase & Co. and Lone Star Funds agreed to acquire a Dutch bad bank called Propertize BV for €895 million. The Dutch government decided to privatize Propertize in 2015. Propertize was originally SNS Reaal NV which became nationalized in 2013. Other bidders include a joint venture between Goldman Sachs and Cerberus Capital Management LP.
AP3 Invests in Swedish RE Portfolio with Fastighets AB Balder
Sweden’s AP3, also known as Tredje AP-fonden, and Fastighets AB Balder, a listed real estate company, have purchased a portfolio of 21 residential properties in Sweden from Aberdeen Asset Management for 2 billion SEK (€213 million). The massive 71,000 square meter portfolio has around 1200 apartments in Stockholm and Öresund. ”This portfolio fits very well into our long term investment in housing, together with the Third Swedish National Pension Fund,” commented Erik Selin CEO at Balder in a press release.
GIC, CPPIB, Scion JV Land $672 Million Fannie Mae Loan
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