CalSTRS Acquires Ownership Stake in LCOR

In a deal valued at close to $ 820 million, the California State Teachers’ Retirement System (CalSTRS) has acquired a 90% interest in LCOR, a real estate investment, management and development company, in combination with an extensive real estate portfolio, from LCOR’s previous investment partner, Lehman Brothers.

The Berwyn, PA-based LCOR’s real estate operating and development business manages more than 7,400 multifamily units, 7.7 million square…
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