GPI Cos. receives $300m commitment from mystery California pension fund
A large California public pension fund has committed $300 million to GPI Companies’ real estate fund, according to several media sources.
The identification of the pension fund was not disclosed, but GPI has revealed that the fund’s total investment in GPI is $500 million.
The Brentwood, Calif.–based real estate investment and operating firm has plans to use the capital to invest in mixed-use properties, multifamily housing, creative and medical offices, and industrial and retail conversions.
GPI specializes in the acquisition, development, repositioning, and management of office, retail, multifamily, and mixed-use properties located in greater Los Angeles and the Western United States.
The firm has more than $1 billion in assets under management.