CalPERS in property sell-off
US pension fund California Public Employees’ Retirement System plans to sell $3bn (£1.9bn) of property assets.
It has appointed Park Hill Group to sell a portfolio of property holdings in Europe, Asia, India and the US as part of a wider risk-reduction programme.
CalPERS’ total fund market value stands at around $300bn, with about $25.5bn in commercial, industrial and residential property assets.
UK CPT takes Barclays loan
Barclays has extended £200m of debt facilities to the UK Commercial Property Trust.
The new deal includes a £50m revolving-credit facility and a refinance of a Barclays loan originally taken in 2011.
The funds are in addition to a £300m, 12-year facility extended by Cornerstone Real Estate Advisors in April.
Catalyst fund raises €150m
Catalyst Capital has announced a €150m (£107m) first close of the €1.2bn Catalyst European Property Fund II.
Almost half of the initial commitments have already been deployed in three separate transactions in the office and retail sectors.
The value-add fund is targeting the UK, France, Belgium, Germany and Poland.
