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6 Property Plays by Major Institutional Investors in Late Jan

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london real estate

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 Partners and Thor Equities. The building is leased by Samsung.

#1 Temasek Holdings Key Investor for London’s Pinnacle Development

Heading to London, Singapore’s Temasek Holdings is a key institutional investor behind a deal to purchase the freehold interest at 22-24 Bishopsgate site from SEDCO, Wafra and Arab Investments for £220 million. In addition, £550 million will have to be committed to build the Pinnacle development. Axa Real Estate is representing the consortium of investors that includes Temasek Holdings. CBRE assisted with the sale.

#2 Canadian Pension Buys Portfolio of Multi-family Properties in San Francisco

Ivanhoé Cambridge, a unit of Caisse de dépôt et placement du Québec (CDPQ), acquired a portfolio of eleven U.S. multi-family properties. Ivanhoé Cambridge bought these properties with San Francisco-based Veritas Investments, Inc. for US$ 190 million. The properties are located in San Francisco, California. The Veritas-Ivanhoé Cambridge joint venture, which started in August 2014, will now have 20 assets in their portfolio. The initial investment for the JV consisted of nine properties for a preliminary investment of nearly US$ 50 million.

#3 APG Signs Deal to Form Student Housing JV in Australia

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GIC Raises Stake in China Oilfield Services

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On November 14 2018, Singapore’s GIC Private Limited acquired 2,982,000 H- shares in China Oilfield Services Ltd at an average price of HK$ 6.9883. GIC increased its ownership in China Oilfield Services to 9.07% from 8.91%. China Oilfield Services is an oilfield services company. It is a majority owned subsidiary of Chinese state owned company CNOOC Group.

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Carlyle Group Completes Deal on 19.9 Percent Stake in Fortitude Re

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More private equity firms are scooping up reinsurance assets. The Carlyle Group finalized its acquisition of a 19.9% stake in Fortitude Group Holdings, LLC, whose group companies operate as Fortitude Re (formerly DSA Re) from American International Group, Inc. (AIG) The transaction was first announced on August 1, 2018. Part of this deal included Fortitude Re inking an investment management agreement (IMA) whereby US$ 6 billion of assets will be committed into a variety of Carlyle investment strategies.

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RDIF, Indorama Corporation, and Yadran Oil Ink Joint Investment in Tartarstan

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The Russian Direct Investment Fund (RDIF), and Singapore-based Indorama Corporation Pte Ltd, a chemical corporation in Asia, and JSC Yadran-Oil, the company authorized by the Government of the Republic of Tatarstan, have agreed to jointly implement investment projects in Russia. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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