CalPERS Takes Huge Hit to RE Portfolio
November 11, 2009
CalPERS has taken a huge hit to its real estate portfolio according to The Registry. At the end of March, the pension fund placed a net-asset fair-market value on its real estate holdings of $17.6 billion. Three months later, the retirement system said the value had fallen by nearly a quarter to $13.4 billion. Amongst [...]
Read More >>Hines to Raise $3.5B in IPO
August 15, 2009
Following on the heals of the IPO which raised $800M for Starwood, Hines has announced its intentions to raise some $3.5B through a public offering. The company intends on using the proceeds to acquire both property and debt on both US and international property. It will be interesting to see how the money will actually [...]
Read More >>Parkside Towers in Foster City Under Contract for $180M
January 6, 2008
Hines is in contract to sell its Parkside Towers office complex in Foster City. The complex is roughly 400,000 SF and is reportedly being sold to Harvest Properties and Invesco for roughly $180M ($452 psf). The complex is about 80% leased and includes tenants IBM, Axciom, and QuinStreet. The project was purchased by Hines about two years ago [...]
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