Investors - MARCH 14, 2017

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

Sign in Start Your Free Trial Now View Purchase Options

University of Michigan commits $50m to real estate fund

by Jody Barhanovich

The $11.6 billion Regents of the University of Michigan has committed $50 million to LBA Realty Fund VI, a real estate fund managed by LBA Realty.

LBA Realty Fund VI, which opened in June 2016, invests in office and industrial properties, primarily in western U.S. markets, with a value-added investment strategy. The fund has a $1 billion equity fundraising target and has raised $350 million so far. LBA Realty expects to hold a final close in June.

University of Michigan previously committed $20 million to the fund’s predecessor, LBA Realty Fund V, in 2014. The fund held a $776 million final close in November 2016, exceeding its $750 million equity fundraising target.

University of Michigan has a target allocation to real estate of 10 percent and an actual allocation of 9.1 percent.

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