Investors - JANUARY 21, 2015

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Florida pension makes first noncore real estate commitment

by Reg Clodfelter

The $789 million Fort Lauderdale Police & Fire Retirement System has committed $20 million to American Strategic Value Fund, an open-end value-add fund managed by American Realty Advisors, confirms Fred Nesbitt, communications director with the retirement system.

American Realty Advisors’ ASVF, which launched in 2008, invests across the major property types through a risk-controlled strategy that focuses on opportunities for added value at different stages of the investment cycle. The fund invests throughout the United States.

The commitment is the retirement system’s first value-add commitment, and the board felt that “by adding value-added strategy real estate, they could enhance the over portfolio's performance as well as their real estate subclass,” Nesbitt notes.

The retirement system does have a relationship in place with American Realty Advisors, having committed $25 million to the firm to manage core real estate

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