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California State Teachers’ Retirement System

California State Teachers’ Retirement System. April 25, 2006. Real Estate and Urban Investments . Investment Objectives. Improve diversification Generate an enhanced yield To provide a hedge against inflation To provide stable cash flows. Core Portfolio By Property Type.

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California State Teachers’ Retirement System

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  1. California State Teachers’ Retirement System April 25, 2006

  2. Real Estate and Urban Investments

  3. Investment Objectives • Improve diversification • Generate an enhanced yield • To provide a hedge against inflation • To provide stable cash flows

  4. Core Portfolio By Property Type Funds and Joint Ventures by Net Asset Value Overview of CalSTRS Real Estate Portfolio(In millions) As of September 30, 2005

  5. Real Estate Emerging Funds/Managers • Challenges & Opportunities • Generic Requirements for Success

  6. Emerging Managers* • Outstanding commitments ~ $275M • Total commitments to date $365M *<$100M assets under management prior to CalSTRS partnership

  7. Emerging Managers* • Strategies include: • Urban Development & Redevelopment • Environmental Remediation • Ethnic-oriented Retail Centers • Historic Restoration • Urban Infill-limited Service Hospitality, and, • Senior Housing

  8. Real Estate Portfolio Managers Office: Mike Thompson mthompson@calstrs.com Retail: Greg Nyland gnyland@calstrs.com Industrial: Hank Thomas hthomas@calstrs.com Residential: Jim Hurley jhurley@calstrs.com

  9. Developing Real Estate Relationships

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