Investors - MARCH 3, 2015

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CalSTRS invests nearly $1.2b in real estate

by Andrea Waitrovich

The $186.4 billion California State Teachers’ Retirement System has invested $1.17 billion in real estate during the fourth quarter, according to its recent investment committee quarterly activity report.

For its core portfolio, CalSTRS invested $468 million in follow-on commitments to three separate investments. The retirement system invested $200 million in an Asian venture with LaSalle Investment Management that aims to create a diversified real estate portfolio in major urban centers in Japan and Australia.

Another $200 million investment was invested in the LCOR Platform with GI Partners. The LCOR Platform focuses on opportunities on the East Coast with high barriers to entry, favorable supply and demand fundamentals, and projected rent growth. The follow-on commitment is an increase from the original $200 million investment made in May

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