The sector was responsible for 40% of all carbon emissions in the United States, despite contributing just 13% of the nation’s gross domestic product, the fund said.
A consortium of property companies led by the NZ Super Fund has snapped up another hotel, this time the 280-room Rydges Wellington, the city's biggest hotel.
Listed industrial property vehicle Goodman Property Trust added more than $500 million to its portfolio valuations, most of that at its flagship Highbrook Business Park.
Continued low listing numbers into the usually buoyant spring period translated to a slight moderation in house price inflation to 29.9% in October from 30.4% in September.