CalSTRS to add $12 billion to its real estate portfolio

Thanks to The Real Estate Bloggers for finding this gem. $12,000,000,000's a hefty number....we are talking 30% assets in dirt, it appears. I've done deals with CalSTRS in the past, and I can tell you first hand that they are savvy and smart investors.

I guess I was a little surprised by some of the analysis. London, after all, has among the highest property values in the world, but it also has some of the highest rents and the lowest vacancies. I always thought our dirt was comparatively cheap to that in Europe. But if they say the European market is a good place to invest, it is hard not to listen.

UPDATE: Now that I think about it, maybe it is both an investment play and a hedge against an ever-falling dollar against the pound and the euro.


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