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Los Angeles Water and Power earmarks $425m for real estate strategies in 2021
Investors - MARCH 12, 2021

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Los Angeles Water and Power earmarks $425m for real estate strategies in 2021

by Kali Persall

Los Angeles Water and Power Employees’ Retirement Plan (WPERP) is planning to commit a total of $425 million to real estate in 2021, IREI has learned.

The commitments will be split, with up to $175 million in core and $125 million each in value-add, opportunistic and real estate debt strategies. These will be primarily focused on investments in the United States.

The investment plan is almost double that of previous years. In 2019, WPERP sought to allocate up to $240 million to real estate investments as part of its strategic plan. At that time, WPERP was looking to selectively evaluate core-plus strategies and value-add investments that emphasized strong current income and moderate use of leverage. For opportunistic investments, WPERP was looki

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