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LACERA moves $535m of properties from Capri Capital Partners to DWS
Investors - MARCH 19, 2019

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LACERA moves $535m of properties from Capri Capital Partners to DWS

by Jody Barhanovich

The $56 billion Los Angeles County Employees Retirement Association (LACERA) has plans to transfer four apartment properties from Capri Capital Partners to DWS for $534.6 million, according to board meeting documents.

The four properties include: Tower 801 located in Seattle; Park Lane Place located in Dallas; Esprit located in Marina Del Rey, Calif.; and Dominion Post Oak located in Houston.

LACERA made the transfer as part of an asset management plan to increase its overall performance. The board meeting document states that its real estate team is now overseeing assets falling within three of the functional asset classes, which include real assets and inflation hedges, and growth and credit. Its real estate portfolio is over-allocated by approximately $768 million, comprised of nearly $1.5 billion over-allocation to real assets and inflation hedges, and under-allocations of $272 million and $438 million, respectively, to growth and credit. This is driving much of LA

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