Meghan Morris
The pension plan has committed a total of $3.3 billion to Calzada Capital Partners in the last three years.
The pension plan invested in debt, equity and secondaries through two fund allocations last week.
The amortization model for calculating total acquisition fees adds costs for long-term investors, the firm said in a new report.
Cornerstone Real Estate Advisers promoted Mike Zammitti to replace Drew Williams, who is retiring this month.
The New York-based firm held a first close last quarter for its third fund on $253 million.
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The Irvine-California based firm originally targeted $200 million for the value-add vehicle.
The pension plan teamed up with NYSE-listed REIT Welltower to purchase a 97.5 percent stake in six Florida senior housing properties.
The firms plan to demolish the Manhattan building and construct a class A office tower.
The acquisition, CBRE GI’s first recent investment in the rapidly-growing Texas city, was made on behalf of insurance giant Allstate.
The Los Angeles-based real estate investment manager is starting the year with $1 billion less in equity than last year after increasing investment across all regions in 2015.
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