Publications

NOVEMBER 13, 2013

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

Sign in Start Your Free Trial Now View Purchase Options

LAFPP commits $120m to core

by Andrea Waitrovich

The Los Angeles Fire and Police Pensions invested $120 million in two core open-end commingled funds at its Nov. 7 meeting. The move was recommended by its real estate consultant, The Townsend Group.

The pension plan made commitments of $60 million each to the Heitman America Real Estate Trust and the MetLife Core Property Fund.

HART is a core open-end fund founded in early 2007 and now comprises more than 130 separate assets with a gross value of approximately $3.1 billion. The fund’s management intends to acquire well-priced core assets, diversified by property type and geography, while utilizing leverage of up to 30 percent. The fund also can consider value-add investments for up to 15 percent of the portfolio value.

The MetLife fund is a new core open-end fund founded and managed by a subsidiary of global insu

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?