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Article: State endowment targets real estate.(New Mexico Permanent Funds)(Brief Article)
- Article from:
- Real Estate Alert
- Article date:
- April 14, 2004
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The $11.5 billion-asset New Mexico Permanent Funds expects to make its initial commitments to real estate this quarter.
The pension plan could invest some $600 million in real estate over the next three to five years. Courtland Partners of Cleveland is its consultant.
The New Mexico fund plans to initially focus on core-plus and value-added investments via joint ventures, which would buy properties of develop projects. Scott Smith, the fund's director of real estate, has already begun interviewing potential partners. One or two could be picked this month.
Investments in commingled funds might be considered down the road to achieve ...