Investors - AUGUST 17, 2016

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Hawaii Employees commits $40m to real estate

by Andrea Waitrovich

The $14 billion Hawaii Employees’ Retirement System has committed $40 million to DRA Growth and Income Fund IX, a value-added real estate fund managed by DRA Advisors.

As of June 30, the pension plan has a 5.5 percent real estate allocation. For the fiscal year real estate posted a 12.5 percent return.

DRA Growth and Income Fund IX launched this year with a $1.5 billion fundraising target. It will invest in a diversified portfolio of office, retail, multifamily, industrial and other real estate–related properties and assets across the United States and its territories.

DRA will increase property income through value-added operational improvements. Fund IX will be invested based on the following investment themes:

·      Capitalize on seller motivation: Find sellers who seek certainty of execution for liquidity/capital due to pending loan maturities, compressed timelines and

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