Investors - FEBRUARY 2, 2015

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

LACERS commits $35m to core real estate, hires REIT manager

by Reg Clodfelter

The $14.1 billion Los Angeles City Employees’ Retirement System has committed $35 million to the Morgan Stanley’s Prime Property Fund and has hired CenterSquare Investment Management to run a $65 million domestic REIT strategy.

LACERS’ real estate consultant, The Townsend Group, recommended the commitment to Morgan Stanley’s PPF during third quarter 2014. The $11.7 billion open-end core fund makes diversified investments in core U.S. real estate and focuses on high-quality office buildings, class A multifamily communities, warehouse distribution and storage facilities, and top-tier super regional malls and shopping centers in targeted primary markets.

The fund generally targets primary markets but will selectively invest in secondary markets as we

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy