Arizona Retirement System plans $2.7bn real estate investments by 2023

Arizona State Retirement System intends to invest $2.7bn (€2.4bn) in real estate over next the four years to enable it to reach its 20% allocation target.

In a board meeting document, the $38bn US pension fund’s consultant RCLCO Real Estate Advisors said part of the plan would involve the selling of some existing non-strategic real estate assets.

In order to reach its allocation level by 2023, the pension fund will consider selling medical office buildings in Denver and retail properties in Miami as part of its plan to make capital available for opportunistic real estate investments.

Arizona State is likely to consider some develop-to-hold strategies as it believes the value upon completion will be in excess of the cost to build.

Some potential strategies will include investing in industrial and retail assets via a separate account

Related images

  • Monument Valley, Arizona

Have your say

You must sign in to make a comment

IPE QUEST

Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2559

    Asset class: Multi Assets.
    Asset region: -.
    Size: EUR 15m (may be split into two mandates EUR 7.5m).
    Closing date: 2019-09-06.

  • QN-2560

    Asset class: Private Equity.
    Asset region: Global.
    Size: $40m.
    Closing date: 2019-08-30.

  • QN-2561

    Asset class: Infrastructure.
    Asset region: Global.
    Size: $40m.
    Closing date: 2019-08-30.

Begin Your Search Now