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Investors - JANUARY 21, 2015

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Louisiana Firefighters commits $36m to core real estate

by Reg Clodfelter

The Firefighters’ Retirement System of Louisiana has committed $36 million, divided evenly, to three to open-end core real estate funds — AEW’s Core Property Trust, ASB’s Allegiance Real Estate Fund and Heitman’s American Real Estate Trust — according to recently released board minutes.

AEW Core Property Trust, launched in 2007, primarily uses a core investment strategy throughout the United States focused on the four main property types, though up to 15 percent of its capital may be used for value-add opportunities. The fund’s leverage is capped at 30 percent LTV.

The ASB Allegiance Real Estate Fund, launched in 1984, generally focuses on investments across the core property types in the United States with no single property type occupying more than 55 percent of the portfolio. Up to 5 percent of the fund’s NAV may be invested outside of the United States, and up to 10 percent of its capital may be invested in n

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