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Wednesday, 16 May 2018

CalSTRS Funds Core-Investment Venture with DivcoWest

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DivcoWest Real Estate Services has formed a venture with the California State Teachers' Retirement System that would pursue core and core-plus properties in a few key markets across the country.

The San Francisco investment manager, which has had a relationship with the giant pension system for more than 15 years, will pursue properties in and around San Francisco, Los Angeles, San Diego, Seattle, Boston, New York, Austin, Texas, and Washington, D.C. Given DivcoWest's history, it will focus on areas that cater to high-tech companies.

The venture has been capitalized with some $300 million of equity, which could give it some $1 billion of investment capacity, after leverage.

CalSTRS has invested in a number of DivcoWest...

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Additional Info

  • Syndicate to Realpoint: No
  • Subject: Institutional Investment (INS), Opportunity Funds (OPPY)
  • Company: California State Teachers Retirement System
  • Private: Yes
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