Split decision in real estate: Funds ignore equity, embrace REITs; REIT investments jump 25.2% while real estate equity declines for second straight year.(The P&I 1,000)

From: Pensions & Investments | Date: January 26, 2004 | Copyright information

Byline: Arleen Jacobius

Investment in real estate equity among defined benefit plans in the top 200 pension plans sank 2.68% to $102 billion in the 12 months ended Sept. 30, while assets in real estate investment trusts soared 25.2% to $14.9 billion during the same period, according to Pensions & Investments' annual survey.

Top holders of equity real estate were the California Public Employees' Retirement System, Sacramento, with nearly $10.4 billion, and California State Teachers' Retirement System, also Sacramento, with almost $4.7 billion. General Motors Corp., ...

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