The JV will target Western US multifamily development projects with a specific emphasis on the Bay Area.
SAN FRANCISCO—Strada Investment Group, a private real estate investment and development firm, and the California State Teachers' Retirement System have entered into a new programmatic joint venture. CalSTRS approved an initial allocation of $300 million of equity capital to the new company, which will target a "build to core" strategy by investing in multifamily development projects in top-tier markets across the Western United States, with a specific emphasis on the Bay Area. BlackRock Real Estate is advisor to CalSTRS on the venture.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
