"Many employee benefit plans and other large investors are looking for ways to increase portfolio earnings and improve diversification, and real estate is an important asset class that is commonly overlooked," said Tom Dobrowski, managing director at GMAM. "Our goal is to leverage our historical success and provide a vehicle for employee benefit funds making their initial foray into real estate investments, as well as those seeking to expand existing real estate programs."
The Trust is unique in that the GM pension trusts take a significant position in each deal, investing side by side with participating clients, said GM officials.
Core Plus includes properties which offer stable cash flow and the opportunity to improve performance through more proactive property management.
The current equity value of GMAM's real estate holdings is approximately $6.5 billion, of which about $3.5 billion is in Core Plus.
The GMAM Group manages approximately $100 billion in pension, 401(k) plans and other assets.
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