CalPERS invests $463m in shopping centres

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US - The California Public Employees' Retirement System (CalPERS) invested US$463m in a real estate portfolio consisting of almost the same shopping centres it had previously sold in 2005.

On Friday (July 31), CalPERS announced a joint venture with First Washington Reality in which the pension fund purchased a 60% stake in a portfolio of 86 properties worth $1.73bn. CalPERS bough...

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