CalPERS Considers Showing Blackrock The Door
November 26, 2009
The WSJ is reporting that CalPERS is considering dropping Blackrock as an investment advisor to the pension fund after a disastrous year. Amongst the investments Blackrock steered CalPERS into was the Stuyvesant Town/Peter Cooper Village deal in NY. That deal has very likely cost CalPERS all of its investment of $500M.
But of course, what did [...]
MacFarlane Quits CalPERS; Stockbridge In
October 23, 2009
Through the first quarter of 2009, CalPERS placed net-asset fair-market value of $854.4 million on the portfolio of California Urban Investment Partners LLC. The portfolio’s quarterly returns were negative 24.2 percent; its one-year return was negative 40.3 percent.
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MacFarlane now has no relationship with CalPERS. As recently as December 2007, MacFarlane was a major advisor to [...]
RREEF America III Overview
September 9, 2009
The Registry has written up an article outlining RREEF’s troubled America III fund, which we discussed in the past. This is the vehicle behind Sunnyvale Town Center and the Peery/Arrillaga Portfolio. There was talk a few weeks ago about Stockbridge seeking to take over management of that fund.
Some big names sit on the board and [...]
NAILED: Sunnyvale Town Center
August 28, 2009
Sunnyvale Town Center is in a world of hurt. Lenders have pulled the plug on financing, and contractors are filing mechanic’s liens like they’re going out of style.
This trouble has been looming for some time. RREEF and Peter Pau of Sand Hill Property Co. took the property down back in Q2 of 2007 for some [...]
Stockbridge Seeking Deal To Takeover Fund That Acquired Peery/Arrillaga Portfolio
August 20, 2009
Stockbridge is seeking a deal to take over the management of the $2.6B RREEF America REIT III real estate fund. This is the same fund that acquired the 119 office and research and development properties from Peery/Arrillaga which we raised questions about last month, as well as the Sunnyvale Town Center project which construction has been [...]
Read More >>The 88 Condos in San Jose Revises Pricing
November 10, 2008
The 88, the 197-unit condo project in Downtown San Jose, has reduced its price today on some of its units. A short while ago we got an alert that Unit 605 at the tower, was reduced from $545,000 to $490,000, roughly a 10% drop. This is expected as we’ve heard sales at all the condo [...]
Read More >>Bay Meadows Plan Gets The Green Light
April 24, 2008
The San Mateo City Council on Monday approved the site plan for the Bay Meadows race track. The 84-acre site in San Mateo is slated to be developed into approximately 95,000 square feet of retail, 15 acres of parks/open space, 750,000 square feet of office space, and about 400 new residential units.
Bay Meadows Land Company, [...]
