Real Estate

SWFI Real Estate Roundabout – February 26, 2015

Malaysia’s Employees Provident Fund (EPF), also known as KWSP, has allocated capital to Japanese logistics – following the path of several asset owners such as Singapore’s GIC Private Limited. KWSP acquired 5 properties from Mitsubishi Corporation for ¥14 billion (US$ 117.8 million). Mitsubishi Corporation will manage the property for KWSP under its Diamond Realty Management [...]


India deals

JTC and Temasek to Move Forward on Merging RE Units

Singapore’s Temasek Holdings and Singapore-based JTC Corporation, whose parent is Singapore’s Ministry of Trade and Industry, have agreed to merger four of their real estate units. JTC Corporation was formerly the Jurong Town Corporation. The reasoning for the S$5 billion merger is to achieve economies of scale and be able to move faster to take [...]


Abu Dhabi Investment Authority Deploys Capital to European Real Estate

Seeking higher investment yields in recent times, Abu Dhabi Investment Authority (ADIA) has largely bypassed London properties to focus more on Continental European opportunities. The Gulf-based sovereign wealth fund invests in both developed properties and in construction projects – unafraid of developmental risks. For example, a sovereign wealth enterprise of ADIA is backing a project [...]


Malaysian Pension Giant Buys Espace Lumière

Increasingly Asian institutional investors such as sovereign wealth funds and large pensions are making inroads into Parisian office real estate. Malaysia’s Employees’ Provident Fund (EPF), through Invesco Real Estate, has acquired a Paris office property called Espace Lumière. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Khazanah Signs Resort Development Agreement with Thailand Hotel Group

Malaysia’s Khazanah Nasional, through its sovereign wealth enterprise Destination Resorts & Hotels Sdn Bhd, has signed a deal to partner with Bangkok-based Minor Hotel Group Ltd (MHG) to build an Anantara resort in Malaysia. The resort and residences-for-sale will be developed with the Anantara brand, a suitable location for the development is in the works. [...]


REVEALED: Virginia Retirement System Allocates Almost $2 Billion to Managers

Virginia Retirement System (VRS) has allocated capital to a number of firms. A massive mandate went to Chicago-based LSV Asset Management for US$ 830 million. LSV will manage a global equities mandate, beating out other candidates. US$ 200 million was allocated to Boston-based Windham Capital Management, LLC to run a risk-based multi-asset class portfolio. With [...]


New-York sovereign wealth fund

Norway Sovereign Fund Acquires Interest of 11 Times Square Property

Norges Bank Investment Management (NBIM), the manager of Norway’s sovereign wealth fund, has purchased a 45% interest in 11 Times Square. Founded in 1981, SJP Properties was founded by Steven J. Pozycki. The 45% interest was acquired from Prudential Real Estate Investors and SJP Properties, who will together remain as majority owners. The deal was [...]


CIC and LaSalle Investment Acquire Meguro Gajoen Complex

High-end Tokyo properties has attracted long-term institutional investors such as sovereign wealth funds, life insurance companies, pensions and real estate fund managers. A falling yen has made Japanese properties look inexpensive for foreign institutional investors. China Investment Corporation (CIC) and LaSalle Investment Management, through a joint venture, acquired the Meguro Gajoen complex in Tokyo for [...]


sovereign wealth deal

O’Connor Capital Partners and Westfield Form a $925 Million Mall Joint Venture

Westfield Corporation, a shopping center developer, has entered in a deal with New York City-based O’Connor Capital Partners to form a US$ 925 million joint venture with three of its regional shopping centers in the United States. O’Connor Capital has a 47.4% interest in the joint venture that is made up of Westfield Palm Desert, [...]


OVERHEARD: Korea’s National Pension Service Eyes 11 Madison Park

Korea’s National Pension Service (KNPS) is in talks with being in a group to acquire the U.S. headquarters of investment bank giant Credit Suisse. This is being reported by the Korea Economic Daily. Other building tenants include WPP Plc, William Morris Endeavor, Enfatico, Sprout Group, Millard Brown, Yelp and Sony Corporation of America. In 2014, [...]


FULL CIRCLE: CalPERS Has a New Face in Real Estate

The California Public Employees’ Retirement System (CalPERS) has found a replacement for Ted Eliopoulos who was promoted to chief investment officer. Paul Mouchakkaa was named senior investment officer for real assets. Mouchakkaa will start on March 2, 2015. CalPERS has a US$ 29.6 billion real assets portfolio. The real assets portfolio oversees real estate, forestland [...]


superannuation

BUYERS WANTED: Australia’s Busiest Container and Cargo Port

The lease on the Port of Melbourne is for sale. The asset could fetch A$ 5 billion. The Port of Melbourne, covers an area at the mouth of the Yarra River, is Australia’s busiest container and cargo port. The port handles around 2.5 million containers per annum, approximately 36% of Australia’s container trade. Since July [...]


$30 Billion Reasons, Qatar Sovereign Fund Goes Big on America

The Qatar Investment Authority (QIA), not shying away from falling oil prices, is pushing ahead to expand overseas investments. According to SWFI’s proprietary Sovereign Wealth Fund Transaction Database, as of January 30, 2015, the QIA ranks in the top 8 of sovereign funds with regard to total transaction amount of direct investments. Other sovereign funds [...]


roads

Norway Sovereign Wealth Buys Queensberry House in London

On January 30, Norges Bank Investment Management (NBIM), the manager of Norway’s sovereign wealth fund, purchased a 100% interest in Queensberry House for £190.6 million. No financing was used in the real estate transaction. The property is a 74,500 square foot office building located at 3-9 Old Burlington Street in central London. Institutional investors such [...]


6 Property Plays by Major Institutional Investors in Late Jan

According to the Sovereign Wealth Fund Transaction Database, which tracks public investor transactions, for some reason an unusual number of institutional investors are buying core properties in January. TIAA-CREF is in final talks to pay US$ 200 million for 837 Washington Street, a boutique office and retail building in Manhattan. The sellers are Taconic Investment [...]


TRIUMPH: Qatar Sovereign Wealth Fund Wins Battle for Canary Wharf Complex

The Qatar Investment Authority (QIA) had set its sights on London’s Canary Wharf complex. Songbird Estates controls 69% of Canary Wharf Group, owner of the Docklands estate, continually advised investors to reject the offer, still believing it was too low. After a long battle, the QIA-Brookfield bid won after three major shareholders agreed to accept [...]


Singapore Sovereign Wealth Fund Gets Approval for Auckland Property Investments

Singapore’s GIC Private Limited has received approval from New Zealand’s Overseas Investment Office (OIO) to purchase a 49% share in Auckland Viaduct properties. The GIC is investing in a joint venture with Goodman Property Trust (GPT). The NZ$ 313 million portfolio has a mandate to augment up to NZ$ 500 million over time.[ Content protected [...]


Asian Sovereign Wealth Fund Acquired Stake in Silicon Valley Complex

In recent years, Menlo Park office properties have fetched higher prices compared to post-2001 years. Sand Hill Road is known as the epicenter of venture capital. Office transactions are rare. Not only are sovereign wealth funds centering on startups like Square and Uber, a number of sovereign funds are buying up prized Silicon Valley real [...]


Friday SWFI News Roundup, January 16, 2015

Mumtalakat Holdings Signs $500 Million Loan Mahmood Hashim Al Kooheji, CEO of Bahrain’s Mumtalakat Holdings, was present at the signing of a US$ 500 million five-year loan. This occurred on January 14th, 2015. The loan has been structured as a 5-year revolving credit facility. The facility will be used to refinance existing debt. Some of [...]


TRS Puts Up Capital for Camden Property Multifamily Fund III

Teacher Retirement System of Texas (TRS) has created a US$ 450 million joint venture to invest in value-add properties across America. TRS is kicking in US$ 144 million in equity toward Houston-based Camden Property Trust’s Multifamily Fund III. TRS has invested in Camden funds before. Camden Property will allocate US$ 36 million to the fund. [...]