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LPs Including UVIMCO & UTC Are Shifting Towards Direct Real Estate Investments
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View in browser (http://us2.campaign-archive1.com/?u=77a3cd097df7557022fbc4906&id=869c795627&e=563f3285d7) Real Estate https://www.thetrustedinsight.com/webinars/464/ Execs from CalPERS, LA Fire and Police, and Canyon Capital Weigh in on Emerging Manager Real Estate Programs (https://www.thetrustedinsight.com/webinars/464/) "It was our belief and it is still our belief that real estate is a local business." ** Top Real Estate News ------------------------------------------------------------ https://www.thetrustedinsight.com/news/show_news/6969/#comments The Hassle—and High Potential—of Direct Real Estate (https://www.thetrustedinsight.com/news/show_news/6969/) Most of our real estate investments today are made directly in individual properties, rather than via participation in commingled funds,” says Joe Fazzino, senior manager for the $43 billion retirement fund for United Technologies (UTC), a Connecticut-based company for aerospace products and services. Interestingly, he says the financial crisis awakened UTC to the risks of not going direct: Those heavily invested in real estate via funds or fund-of-funds took a hit from dislocated prices and liquidity problems. Read More » (https://www.thetrustedinsight.com/news/show_news/6969/) https://www.thetrustedinsight.com/news/show_news/6994/#comments UVIMCO CIO on Cool Heads, Risk Management, and the One Underperforming Asset Class (https://www.thetrustedinsight.com/news/show_news/6994/) “You know what they say,” Lawrence Kochard, CEO and CIO of the University of Virginia Investment Management Company (UVIMCO), begins. “If it ain’t broke, don’t fix it.” And indeed, Kochard’s management of the $6.4 billion endowment has been smooth sailing so far in his tenure of a little more than three years. The fund continually ranks among the five largest public university endowments and in the top 20 for US endowments overall...However, despite good returns and governance, there is room for improvement, Kochard acknowledges. Its real estate portfolio, comprising 8.6% of the endowment as of June 30, 2013, has struggled. Read More » (https://www.thetrustedinsight.com/news/show_news/6994/) https://www.thetrustedinsight.com/news/show_news/6966/#comments Islamic Investment Manager RiverCrossing Is Raising a $125 Million US Real Estate Fund (https://www.thetrustedinsight.com/news/show_news/6966/) The Fund will invest in income-producing, cycle-resilient alternative real estate properties in senior housing, student housing, medical offices and self storage across various regions of the US. The Fund will be co-managed by RiverCrossing and Virtus with the underlying assets managed by Virtus and its regional operating partners. Read More » (https://www.thetrustedinsight.com/news/show_news/6966/) https://www.thetrustedinsight.com/news/show_news/6979/#comments New Twist in Saga of Who Gets Real Estate Tycoon Gopal Raheja's $1.8 Billion Fortune (https://www.thetrustedinsight.com/news/show_news/6979/) The Gopal Raheja family dispute has taken a new twist with the emergence of a fresh will wherein the late real-estate mogul has bequeathed his entire property — valued at Rs 11,000 crore in 2012 — equally between his two daughters, leaving nothing for son Sandeep. Read More » (https://www.thetrustedinsight.com/news/show_news/6979/) https://www.thetrustedinsight.com/news/show_news/6971/#comments Social media fuels Chinese overseas real estate purchases (https://www.thetrustedinsight.com/news/show_news/6971/) In the last six month of 2013, $1.1 billion worth of potential transactions were referred to international agents by Juwai.com, the largest real estate portal that targets Chinese buyers looking abroad. It was unclear how many deals were actually completed. Read More » (https://www.thetrustedinsight.com/news/show_news/6971/) https://www.thetrustedinsight.com/news/show_news/6987/#comments Buying Bad Loans and Distressed Debt in Europe: Gold Rush or Bust? (https://www.thetrustedinsight.com/news/show_news/6987/) According to a recent PricewaterhouseCoopers report, European banks were finally recognizing approximately $1.4 trillion in nonperforming loans at the end of 2013, up from $715 billion in 2008. For years after the financial crisis, the European banks were not marking down the loan collateral and classifying their loans. They took no decisive action to deal with their bad loans. But now that is changing. European banks are at an inflection point. According to the PwC report, in 2013, banks sold $90.5 billion worth of troubled debt to investors, compared with $64 billion in 2012, an increase of more than 40%. Read More » (https://www.thetrustedinsight.com/news/show_news/6987/) https://www.thetrustedinsight.com/news/show_news/6968/#comments IMRF commits more than $200m to real estate funds (https://www.thetrustedinsight.com/news/show_news/6968/) The Illinois Municipal Retirement Fund has committed more than $200m to Latin American and European real estate funds.... Read More » (https://www.thetrustedinsight.com/news/show_news/6968/) https://www.thetrustedinsight.com/news/show_news/6993/#comments Investors in South African Balanced Funds Lost Out on Listed Property Boom (https://www.thetrustedinsight.com/news/show_news/6993/) Listed property in South Africa has out-performed the equity and the bond markets by a wide margin over the past 15 years, but many investors in multi-asset (or balanced) funds did not benefit as much as they could have done from the extended bull run, because their exposure to the sector was low. Read More » (https://www.thetrustedinsight.com/news/show_news/6993/) https://www.thetrustedinsight.com/news/show_news/6990/#comments China hard landing could adversely impact Middle East (https://www.thetrustedinsight.com/news/show_news/6990/) "A China hard landing would mean the Middle East would experience weaker exports, lower tourism and business activity and probably resurgence of risk aversion by global companies...” Read More » (https://www.thetrustedinsight.com/news/show_news/6990/) https://www.thetrustedinsight.com/news/show_news/6989/#comments Pending Sales of U.S. Existing Homes Rise Most Since 2011 (https://www.thetrustedinsight.com/news/show_news/6989/) Contracts to purchase previously owned U.S. homes climbed in March by the most in almost three years, showing residential real estate was starting to stabilize entering the spring selling season. Read More » (https://www.thetrustedinsight.com/news/show_news/6989/) https://www.thetrustedinsight.com/news/show_news/6988/#comments Las Vegas commercial real estate sectors looking up (https://www.thetrustedinsight.com/news/show_news/6988/) A new report from commercial brokerage Avison Young shows improvements in the industrial, office and retail sectors, and gives a few key trends to look for. Start with industrial vacancies, which fell to 11.1 percent in the first quarter, down from 12 percent in the same quarter a year earlier. North Las Vegas was especially hot: The submarket posted the most industrial sales and the third-largest number of leases in the past year. That could push up rents and spark new speculative building in the area Read More » (https://www.thetrustedinsight.com/news/show_news/6988/) https://www.thetrustedinsight.com/news/show_news/6985/#comments Small private equity RE funds do twice as well as big rivals (https://www.thetrustedinsight.com/news/show_news/6985/) Small private equity real estate funds from less experienced managers have performed over two times better than larger funds from established firms, according to data group Preqin... Read More » (https://www.thetrustedinsight.com/news/show_news/6985/) https://www.thetrustedinsight.com/news/show_news/6984/#comments American Realty in talks to buy NorthStar Realty (https://www.thetrustedinsight.com/news/show_news/6984/) American Realty Capital Properties Inc , a real estate investment trust, is in talks to buy NorthStar Realty Finance Corp in deal that could value the company at about $6.4 billion, the Financial Times reported. Read More » (https://www.thetrustedinsight.com/news/show_news/6984/) https://www.thetrustedinsight.com/news/show_news/6983/#comments LA real estate investor is sweet on Seattle (https://www.thetrustedinsight.com/news/show_news/6983/) Los Angeles-based real estate investment firm TruAmerica Multifamily announced Wednesday that it paid $28.7 million for Montclair Heights, a 174-unit apartment project in Renton. The purchase of the 16-acre property is TruAmerica's third acquisition in the Puget Sound region since December. Previously, the company paid $54 million for Arcadia Luxury Townhomes in Federal Way and $27 million for Westhaven Apartments in West Seattle. Read More » (https://www.thetrustedinsight.com/news/show_news/6983/) https://www.thetrustedinsight.com/news/show_news/6981/#comments Boston's Tech/Biotec/Pharma Scene Pushing Commercial Real Estate Rents Sky High (https://www.thetrustedinsight.com/news/show_news/6981/) Stuart Shiff, whose company Divco West manages more than $7 billion real estate assets, primarily in Northern California, Los Angeles and Austin, called Boston "a must-have market." Over the last two years, his firm has acquired buildings in Cambridge, the Financial District and the Seaport. Read More » (https://www.thetrustedinsight.com/news/show_news/6981/) https://www.thetrustedinsight.com/news/show_news/6977/#comments Dubai Shares Rise on Real Estate Recovery Optimism; Qatar Falls (https://www.thetrustedinsight.com/news/show_news/6977/) Dubai’s benchmark index gained for the seventh time in eight days as real estate companies rose, shrugging off an emerging markets drop. Qatar’s measure fell. Read More » (https://www.thetrustedinsight.com/news/show_news/6977/) https://www.thetrustedinsight.com/news/show_news/6975/#comments Real Estate Mogul Don Sterling to be Investigated by NBA (https://www.thetrustedinsight.com/news/show_news/6975/) Anger, frustration and calls for action echoed around the NBA on Saturday after an audio recording surfaced of a man identified as Los Angeles Clippers ownerDonald Sterling telling his girlfriend not to bring black people to games. Everybody except for the embattled Clippers owner, who has a decades-long history of alleged discrimination and offensive behavior, seemed to have a response. Read More » (https://www.thetrustedinsight.com/news/show_news/6975/) https://www.thetrustedinsight.com/news/show_news/6973/#comments The Chinese take Manhattan: replace Russians as top apartment buyers (https://www.thetrustedinsight.com/news/show_news/6973/) One Chinese buyer recently purchased two properties, worth $13 million, at the Baccarat Hotels & Residences in New York. The entire deal was done via the Chinese social networking site WeChat, according to the broker who did the deal, Douglas Elliman's Emma Hao. Read More » (https://www.thetrustedinsight.com/news/show_news/6973/) https://www.thetrustedinsight.com/news/show_news/6970/#comments The Developers Behind the Philippines' Next Central Business Districts (https://www.thetrustedinsight.com/news/show_news/6970/) Two of the leading Philippine-based developers are investing nearly $2.5 billion to turn their newly acquired properties into the country’s next premier central business districts. Ayala Land this week announced its plans for its Arca South development, a 74-hectare complex located in the heart of Metro Manila, near the southern ends of EDSA, C5 and the South Luzon Expressway. Read More » (https://www.thetrustedinsight.com/news/show_news/6970/) https://www.thetrustedinsight.com/news/show_news/6967/#comments Virginia Retirees Approve Real Assets Commitment (https://www.thetrustedinsight.com/news/show_news/6967/) At its April 17 meeting, the VRS Board of Trustees heard that the Richmond, Va.-based system has invested approximately $100 million or 75 million to Europa Capitals Europa Real Estate Fund IV, confi... 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