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StanCERA to add $38 million to real estate portfolio

by Reg Clodfelter

The $1.7 billion Stanislaus County (Calif.) Employees’ Retirement Association has decided to up its real estate allocation from 1.5 percent to 3.5 percent. The change would require additional real estate investments of around $38 million that would be committed to one or more new managers.

Board documents also state that the retirement association may terminate its public market REITs portfolio with BlackRock and instead add approximately $59.2 million to its real estate portfolio, divided among two or three new managers.

The retirement association is also considering three alternative long-term real estate allocations proposed by Strategic Investment Solutions. The first option would be to maintain the retirement association’s public market REITs investments as 33 percent of the portfolio, and add equally weighted core and value-add

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