(Read more on the industrial market.)
CHICAGO-First Industrial Realty Trust Inc., based here, and theCalifornia State Teachers' Retirement System (CalSTRS) are joiningtogether in another venture that will focus on industrialproperties in Canada. The total investment capacity of the fund is$285 million.
The term for the joint venture is 10 years, with the capitalbeing recycled into the venture as properties are sold. CalSTRSwill initially contribute up to $90 million, with First Industrialcontributing up to $10 million. The projected capitalization is 35%equity and 65% debt. The lead lender will be WestLB AG, New YorkCity branch, and CB Richard Ellis Investors is advising CalSTRS inthe venture.
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