Publications

Investors - JANUARY 14, 2013

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

TCRS invests $55 million in two real estate funds

by Andrea Waitrovich

The $36.3 billion Tennessee Consolidated Retirement System (TCRS) has committed a total of $55 million to two separate value-added real estate funds.

The pension fund committed $30 million to the recently announced closed Covenant Capital Apartment Fund VII, managed by Covenant Capital Group. The value-added apartment fund closed with $336 million in equity commitments. It invests in apartment communities in the Southeast and mid-Atlantic.

The other investment was $25 million to Normandy Real Estate Fund III, a value-added fund managed by Normandy Real Estate Partners. The vehicle launched in 2011 with a $500 million fundraising goal. It targets distressed assets, primarily office properties in the Boston-to-Washington corridor.

Both commitments are TCRS&r

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy