California State Teachers Retirement System (CalSTRS) Looking to Invest 12 Billion More in Real Estate
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If you are looking at international commercial real estate funds, this may be the time to jump in. The California State Teachers System (CalSTRS) is one of the largest pension funds in the country and they have just announced that they will be reallocating up to 30 percent of their investments into international commercial real estate.
CalSTRS is one of the big dogs in the investment world, so when they announce a major re-allocation of assets, the investing world takes notice. After the run up of the stock market as liquid assets left the real estate market and went into the stocks, are the big boys looking to reinvest their profits into the real estate again?
The pension fund believes there will be solid investment opportunities outside of the US, particularly in Europe and office developments, as the Board believes major European markets are on the upswing for the first time in several years.
As a result, the pension fund board’s 2008 fiscal year business plan is proposing to increase its real estate allocation first to 15% then 20%, to eventually reach 30%.
More specifically, the Board believes there are opportunities to be had in London, for example, where vacancies in office space have been pushed down to 8% from 15% two years ago but are unlikely to stay at this level for long as new construction is likely to lead to higher vacancies later in the decade.
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The pension fund thinks it will get to its targeted allocation sometime over the next 24 months as CalSTRS now has a real estate portfolio valued at $15.8bn (€11.5bn) and is seeking to achieve a real estate portfolio reaching $28bn by 2011/2012. via IPE Real Estate News.
It probably is a really good time to buy real estate - monthly payments are about equal to market rents ...
The part about the inventory is right on but in my area they are mostly low end and beat up ...
I worked for this man, he is a great con man and has done this in more than States then ...
You're right. If you come from Central Jersey (as the Boss and I do), you go to Florida at some ...
Maybe it was kryptonite...
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By Mike ...
I couldn't agree more.
The newspaper has always "stuck" it to the real estate agent with rates that were much higher ...
By the way, homeowners trying to get short sale approval should be aware that lenders are comparing the initial loan ...
Ouch! Thankfully I haven't come across anything like that yet. We normally don't have situations like that in ...
well, the guy was here illegally.
serves him right. 
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Pingback by Good to Go Pile . . . « Trading for the Masses on 16 July 2007:
[...] California State Teachers Retirement System (CalSTRS) Looking to Invest 12 Billion More in Real Estate [...]
Comment by Jack Payne on 18 July 2007:
The financial muscle of the California Teachers Retirement System is considerable. This potent flood of dollars should, if nothing more, send, at least, a temporary blast of liquidity into every RE market it penetrates.
–Jack Payne
http://www.sixhrs.com
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