PCCP and CalSTRS Invest In Build-To-Rent Homes
CalSTRS CEO Jack Ehnes and PCCP partner Jim Galovan (Photos via iStock, CalSTRS, PCCP) The nation’s second largest public pension fund and an investment firm are placing a big bet on build-to-rent housing. California State Teachers’ Retirement System and Pacific Coast Capital Partners have formed a $1 billion joint venture to invest in the fast-growing single-family housing sector, according to the Los Angeles Business Journal. The venture will focus on build-to-rent communities in primary and secondary markets across the country. It will acquire existing properties and construct new sing...
Source: therealdeal.com