L&B Realty Advisors raises $467m for core fund

L&B Realty Advisors, a Dallas-based real estate investment adviser, has raised $467 million for a core real estate fund, according to a filing with the SEC. The firm did not comment on its fundraising efforts.

L&B’s real estate investment vehicles consist of both separate accounts and commingled funds. L&B Core Income Partners is an open-ended fund that launched in 2010. It invests in office, retail, multifamily and industrial properties across the United States.

Throughout its fundraising, L&B Core Income Partners has received commitments from multiple investors, including the Texas Permanent School Fund, the San Antonio Fire & Police Pension System and the Oklahoma Teachers Retirement System.

L&B Realty has $8 billion in assets under management.