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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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ADIA Seeks to Sell KIC Headquarters

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The Abu Dhabi Investment Authority (ADIA) is seeking to sell the building that houses the headquarters of the Korea Investment Corporation (KIC). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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BMO and OTPP Test Blockchain Canadian Dollar Debt Deal

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The Bank of Montreal (BMO) and the Ontario Teachers’ Pension Plan (OTPP) participated in a landmark blockchain Canadian-dollar debt transaction. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Just Group Acquires Corinthian Pension Consulting

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Just Group plc acquired a 75% ownership stake in the holding company of Corinthian Pension Consulting Limited (Corinthian Pension Consulting). Operating in the institutional world for over 12 years, Corinthian Pension Consulting provides advisory services to defined-benefit pension scheme trustees and scheme sponsors undertaking bulk scheme exercises. The remaining 25% will be retained by current shareholders of Corinthian Pension Consulting. Robert MacGregor will continue to lead Corinthian Pension Consulting, as its Chief Executive Officer. Furthermore, Corinthian Benefits Consulting Limited and Corinthian Affinity Solutions Limited will continue to operate as before, becoming part of a newly formed holding company, Corinthian Group Holdings Limited.

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