Investors - APRIL 30, 2015

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NYSTRS commits to CMBS, renews REIT mandates

by Zoe Loza

The New York State Teachers’ Retirement System made several real estate–related decision at its April 29 board meeting. Among the decisions was a commitment of up to an additional $200 million to Prima Capital Advisors to manage a portion of the $109.2 billion retirement system’s assets in CMBS, mezzanine loans and B-notes in a separate account structure.

NYSTRS’ initial investment of $350 million with Prima was made in 2003. John Cardillo, a spokesperson for NYSTRS, says the additional allocation will allow the retirement system to access high-quality properties. He notes that Prima Capital Advisors has a track record of strong returns and a seasoned management team.

Additionally, the retirement system renewed its agreement with Adelante Capital Management to manage a portion of its portfolio by actively investing in REITs and REOC securities. The mandate is effective July 1 and will last one year. NYSTRS renewed similar agreements wit

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