Who's investing: archive
Every Who's investing story in Real Estate, newest first. 50 stories
1 story
Sacramento pension commits $50m to Wolff Credit Partners IV
The $15.5 billion plan holds $1.2 billion of real estate against an 8% target, IREI reports.
3 stories
Institutions turn to joint ventures for grocery-anchored retail, ICSC report finds
PRED records show a $790 million Oct. 21 closing listing Nuveen Real Estate and PSP Investments, two firms named in the ICSC report.
Illinois Police Officers' Pension Investment Fund commits $250m to TA Realty Value-Add Fund XIV
The pension fund had $16.5 billion in assets as of June 30 and a 5 percent real estate target; the commitment is about 30 percent of that implied allocation.
Ohio SERS commits $125m to Blackstone and TA Realty funds
The $50m TA Realty sleeve is an open-end core-plus U.S. multifamily fund; the $75m Blackstone sleeve is a closed-end, value-added secondaries pool with no stated fundraising target.
1 story
OZ 1.0 investors must recognize deferred gains on Dec. 31, 2026; rollovers generally barred
About 25,000 investors hold more than $100 billion of deferred gains, and unfinished OZ 1.0 projects face new property and funding tests.
1 story
J.P. Morgan Asset Management forecasts 8.1% annualized U.S. core real estate returns
The 2027 long-term assumptions put European core real estate at 7.1%, up from 6.9%, leaving a one-percentage-point gap with the U.S. forecast.
1 story
Institutional real estate commitments rise 75% over three fiscal years, IREI says
The 946 commitments IREI tracked from Oct. 14, 2023 through Oct. 13, 2026 totaled $115 billion in disclosed amounts, with 140 investors active in the final year.
1 story
Greater Manchester Pension Fund commits £30m to Newcore social infrastructure
Half goes to Newcore's UK-wide core-plus income fund and half to a sidecar ring-fenced for the North West.
1 story
LADWP commits $250m across Vistria, Locust Point and DRA funds
The Los Angeles pension allocated $100 million to workforce housing and $75 million each to senior housing credit and a diversified value-add fund.
2 stories
KPERS commits $100 million to EQT Exeter U.S. industrial value-add Fund VII
The fund's $6 billion maximum size is $1.2 billion above the $4.8 billion final close of its predecessor.
NYSCRF commits $456.3 million to Artemis, Basis and Hyperion real estate funds
The $300 million Artemis allocation equals 12 percent of the fund's $2.5 billion maximum size, IREI reported.
1 story
IFM survey: 67% of North American respondents prefer domestic private markets
Sixty-three percent of North American respondents cite inflation as a top portfolio risk, compared with 55 percent globally.
3 stories
Trepp Q2 index shows CRE pricing flat as large assets lag small ones
The equal-weighted TPPI is 4.96% above its June 2022 level while the value-weighted index is 9.89% below it.
JLL flags below-replacement-cost buildings in Asia Pacific, Europe for private wealth
JLL says rising construction and labor costs have pushed the delivery cost of new prime office towers in Sydney above what quality existing buildings currently fetch.
Texas TRS commits $150 million to Pennybacker Capital's seventh value-add fund
The commitment lands against a 15 percent real estate target at the $233.5 billion pension, with no fundraising goal yet determined.
2 stories
L&G funds its first U.S. multifamily development in Concord, Massachusetts
The $1.6 trillion manager says it expects to acquire more existing apartments than it builds, given the difficulty of starting construction.
ORG Portfolio Management urges investors to reassess real estate allocations
The white paper says real estate's total portfolio role should be re-underwritten because performance drivers shift from cycle to cycle.
2 stories
PGIM Real Estate puts US investors' international allocation sweet spot at 10-15%
Domestic targets have climbed to 70-80% from 66% in the back half of the last cycle, according to the manager's European research head.
Ohio Police & Fire slates up to $100 million for Jadian Evergreen Fund
The $22 billion plan's real estate sleeve sits at 8.65 percent of assets against a 12 percent target, leaving the Jadian commitment a fraction of a nearly $700 million gap.
1 story
IREI commentary says AI job disruption would hit market-rate apartment demand first
The piece starts from nearly half of U.S. renters already spending more than 30 percent of income on housing.
1 story
AIMCo puts its whole real estate platform under one seat
Dan Teper's remit spans capital allocation, portfolio optimization and multi-country investment teams — a build job, not a caretaker posting.
1 story
Indiana splits $236 million between industrial and European value-add
One check buys an industrial operator's pricing discipline; the other, a seven-country European property call.
2 stories
TCDRS buys apartment debt after its property book quadruples
A plan that grew real estate from $1.1 billion to $4.1 billion in five years is now buying income rather than residual, and the rest of TPG's $3 billion raise will reveal whether other public plans follow.
Texas TRS's CIO search opens with the mandate already written
A $233.5 billion allocator wants a maintainer, which favors managers already inside its portfolio over anyone treating Jase Auby's retirement as an opening.
3 stories
TRS's CIO search is a real estate succession
A $30.6 billion property book against a 15 percent target changes hands while every major property type is finding a new price.
DRA builds a $2.75B fund one $50M state ticket at a time
New Mexico's approval is the second same-size state commitment to a DRA value-add fund this month; the fund's office sleeve is why the $50 million ticket, not a flagship close, is the model.
Orange County buys Blue Owl's lease-duration industrial bet
The $75 million ticket is modest; the strategy behind it is a credit underwriting wearing a sector label.
1 story
Alaska splits $300m core mandate three ways
The board split $300 million evenly across Principal, AEW and TA Realty, a choice that treats manager selection as the risk to spread.
3 stories
Blackstone's core-plus pitch now runs on supply, cash flow, and a Fed hike it can survive
The core-plus case now rests on supply scarcity and cash-flow compounding, and the Fed's first hike in three years is the test it was built to survive.
CalSTRS's $5bn half is a bet on the debt layer
Three of the six itemized commitments buy debt rather than property, and the PAG mandate puts corporate balance sheets alongside buildings as collateral.
LP appetite hits a survey high, with co-investment the tell
A nine-point rise in alternatives intent is the strongest reading in five editions, but the five-year peak in co-investment says more about where allocators actually want to go.
1 story
CalSTRS's $5 billion round bets on control and against office sellers
The largest check goes to a residential account the fund controls outright, while $819 million of new office money cuts against the pension sellers.
1 story
Allocators now underwrite the operator
Cortland's CIO says institutions want managers who grow NOI without leverage, and the reporting template is where that gets settled.
1 story
DC real estate's $45 billion book grew under 1 percent in 2024
A single dedicated hire per firm is the constraint behind the channel's under-1 percent growth.
2 stories
SDCERS leaves core out of a fully allocated $200 million plan
A pension already at its real estate target is recycling the book into noncore equity and debt; the debt half is a wager on how the refinancing wall is resolved.
CalPERS's real estate allocation gap made it a buyer, and Ares took both first-quarter checks
Real estate sits at roughly 8.8 percent of a $627.7 billion plan against a 10 percent target, so CalPERS had to keep writing checks—and in the first quarter both went to Ares.
2 stories
Asia's core funds out-earned the risk sleeves in the second quarter
Core's 2.29 percent quarter against a negative value-add print hands allocators a fee conversation the next index will either settle or sharpen.
Distressed office's first buyers are sponsor balance sheets
A founder's $50 million anchor is setting the entry price in class A and B office.
2 stories
IMRF commits $120M across three value-add real estate funds
The largest check buys the thinnest slice—2 percent of Artemis's target—while the $35 million bets approach a tenth of theirs.
Montana board commits $100m to two value-add funds
DRA and Marcus Partners each receive $50m, keeping the pension's real estate allocation near its 12% target.