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Investors - FEBRUARY 27, 2014

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CalSTRS commits $818m to real estate

by Andrea Waitrovich

The California State Teachers’ Retirement System has invested $818 million in real estate in third quarter 2013, committed in 10 separate investments, according to its fourth quarter investment report.

Eight of the commitments were follow-on investments. Six were core-related investments, while two were value-added.

For its core portfolio, CalSTRS committed $300 to open-end vehicles, approximately $100 million to a joint venture, and $3 million to a separate account.

CalSTRS invested $100 million to the $7.3 billion open-end fund Clarion Lion Properties Fund, managed by Clarion Partners. It invested another $100 million in JPMCB Strategic Property Fund, managed by

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