Taking Action When Opportunity Knocks: Tactical REIT Investment by Teacher Retirement System of Texas
The Strategic Property REIT Execution and Delivery (SPREAD) team at Teacher Retirement System of Texas (TRS) recognized the opportunity in the current divergence and seized it with a $400 million commitment for a tactical investment in U.S. public equity REITs. The investment yielded a 17.1% internal rate of return (IRR) with $47 million in profit.