At its Feb. 17 meeting, the Macomb County (Mich.) Retirement System approved a $50 million investment split across two core real estate managers.
The board will invest $25 million with American Realty Advisors (ARA) and $25 million with Boyd Watterson Asset Management, according to recently released board meeting minutes.
The specific names of the funds were not disclosed.
ARA is a premier investment manager of institutional-quality commercial real estate portfolios. The firm’s strategies are implemented through commingled core and value-add funds, according to ARA’s website.
ARA’s income-oriented core strategy focuses on institutional-quality assets with an emphasis on long-term stabilized cash flow and market appreciation potential. ARA targets stabilized assets that are substantially leased to high-quality te
