Lisa Fu
The $359.4bn pension plan has marked more than $4.2bn for real estate investments during the 2018-19 fiscal year.
The New York-based asset manager has set plans to increase its global core-plus AUM from $32bn to $60bn within the next two to three years.
Lending to a singular alternative real estate sector means a firm must be ready to underwrite a property type’s unique risk and demonstrate specialist expertise.
The Red Bank, New Jersey-based firm’s debut fund is a rare example of an alternative real estate sector-specific credit vehicle.
The Switzerland-based firm follows CBRE GIP and Madison International Realty this week in acquiring assets from a fund nearing the end of its life.
The Houston-based real estate investment firm closed on €720 million for its latest fund, surpassing its fundraising target by more than 40 percent.
In capturing $619m, the Reno-based firm exceeded its $600m target for Dermody Properties Industrial Fund II.
While most commercial real estate firms will not bother with small assets valued at less than $10 million, others see buying at this scale as a niche worth exploring.
The California-based firm will be using a crowdfunding platform to help raise capital for the vehicle, which has a value-add strategy targeting apartments on the West Coast.
By harnessing the latest systems, managers and owners can streamline operations, make cost savings and find value-add.