The fund drew a group of 18 investors, including CalSTRS, Colorado Public Employees Retirement Association and TIAA-CREF. Corporate funds, endowments, public funds and international institutions also are involved.
The fund already has committed $200 million to develop or buy industrial properties located in California, the Midwest and Texas with Barrington-based Ridge Properties Trust, including an industrial redevelopment in southwest suburban Bridgeview. It also spent $114 million on a 21-property, 1.5-million-sf portfolio with Storage USA. In addition, it has invested $250 million with Lillibridge Health Trust on a 14-building, 1-million-sf medical office building portfolio.
Heitman LLC president and chief executive officer Maury Tognarelli says the fund will invest in more than 10 operating ventures, which each will buy multiple properties.
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