Sign up today and take advantage of member-only content — the kind of timely, cutting edge industry insight that only IMWeekly.com can deliver.

• Exclusive Online Only Content
• Weekly Email News Alerts
• Industry White Papers
• Expert Analysis

Real Estate Asset Class

News

Maine PERS Plans for Real Estate Changes

The Maine Public Employees' Retirement System is expected to increase its investments in public real estate, and include opportunistic funds in its portfolio. According to IPE Real Estate, Andrew Sawyer, CIO at Maine PERS said the system would be considering a 'variety of new investment strategies for the future.' Recently hired real estate consultant ORG Real Property will assist the plan with its investments in the asset class. Reportedly, Maine PERS has a real estate portfolio valued…

Treeline Launches Real Estate Consulting Unit

The Treeline Companies, owner and manager of more than 2.5 million square feet of office properties throughout the New York metropolitan region, is launching Treeline Realty Advisors, a real estate consulting and asset management division focused on troubled assets. The division will provide consulting services to develop and execute management plans and disposition strategies for lenders and investors in underperforming and distressed real estate assets, with a primary focus on the New York tri-state area.…

GE Real Estate Hires Debt Pro

Skip Wells has joined the Global Investment Management team at GE Capital Real Estate as a fund manager for senior secured debt investments, the firm has announced. In his new role, Wells will be responsible for implementing investment strategies and general fund supervision. He has been with GE since 1989, first with the firm's capital financial management program and subsequently in its strategic capital group. 'Skip's broad range of experience in real estate lending, and his…

Mass. PRIM Removes REIT Manager

The $37.8 billion Massachusetts Pension Reserves Investment Management Board (PRIM) has stripped Wellington Management from the $163 million REIT portfolio it manages at the fund, according to a Boston Globe report. Wellington was terminated due to poor performance and a shift in PRIM's REIT allocation, the report said. During 2008, the Wellington portfolio lost 46%, compared to its benchmark, which lost 37%. The board is also cutting its investments in the space from 3% to 2%. Instead,…

CPPIB Plans for More Real Estate

The Canada Pension Plan Investment Board (CPPIB) is eyeing additional real estate investments as declining values are making the market more attractive, Graeme Eadie, senior VP of real estate has reportedly announced. A Bloomberg News notes that investments within the U.S., U.K. and Australia are particularly on the plan's radar. The C$105.5 billion will seek out opportunities in real estate, infrastructure projects and private debt, Eadie said in a conference call. The goal is to generate long-term…

More

Articles

Massachusetts Plan Issues Real Estate RFP

The Cambridge Retirement System is accepting proposals from private real estate managers to oversee a roughly $10 million portfolio. According to the RFP, the board will consider both open-ended and closed-ended products for the value-added mandate. Calls to Ellen Philbin, administrator with the $787 million plan, were not returned by press time. Carol Loi, a consultant with Segal Advisors, however, said the board is looking to add an additional manager to its roster in order to…

Iowa Regents Nears Real Estate Hire

The Board of Regents of the State of Iowa will interview firms for a real estate mandate later this month, said Patrice Sayre, chief business officer. Sayre said the portfolio amount has not been determined, but the board is looking to beef up its investments in that sector. 'Real estate is an area that has had minimal investments from us,' she said. Wilshire Associates will assist with the selection. Meanwhile, the fund has made a new addition to its…

Consultant RFPs on the Way at Illinois TRS

The Teachers' Retirement System of the State of Illinois (TRS) will issue RFPs for a general and a real estate investment consultant. Eva Goltermann, spokeswoman for the $27.2 billion plan said that R.V. Kuhns & Associates serves as the plan's general investment consultant, while Callan Associates advises on the board on its real estate investments. Both firms were hired in 2006. 'These RFP's are a result of a…

Texas ERS Names Advisor for RE Portfolio

R.V. Kuhns & Associates will now advise the Employees' Retirement System of Texas (ERS) on its real estate investments. This is the system's first consultant hired specifically for the asset class. Mary Jane Wardlow, spokeswoman for the $22.3 billion fund, said that Courtland Partners was selected as a back up for the firm. The search was conducted due to the board's decision to add real estate investments to the ERS' asset allocation in late 2006, Wardlow explained.…

Broad Street Opens Asset Management Division

Raymond Chalme has been a property manager for years. For 15 of these, he and his firm, Broad Street Development (BSD) have focused on developing, managing and leasing commercial properties and residential condominium developments, primarily in New York City and environs. That was until the financial crisis and the collapse of real estate markets. Now Chalme, who is CEO of BSD, sees a future in institutional asset management, while others see carnage and collapse. 'All these…

More