WEST SACRAMENTO, CA-The California State Teachers’Retirement System has launched a joint venture focused onurban retail properties in underserved communities—a partnershipthat has the potential of reaching $250 million in commitments.
CalSTRS, partnered with Dallas-basedSarofim Realty Advisors in 2004 to form theCommunity Retail Development Fund, which seeks to invest with localand regional partners on retail properties in underservedcommunities, and the fund has now identified Los Angeles-basedPrimestor Development Inc. to develop, redevelopand acquire retail properties with an eye toward establishing “astable portfolio of core assets over time,” according to a preparedstatement.
CalSTRS chief investment officer, ChristopherAilman, says the commitment will help “rebalance itsportfolio.” According to Ailman, “By building toward core, we alsoavoid the often overheated core buying market.”
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
