Calpers Is Selling One-Fifth of Its Residential Land Portfolio
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The California Public Employees’ Retirement System is selling its interests in 28 housing developments, about one-fifth of its residential real-estate portfolio, as the $226.5 billion fund reduces its property holdings, a spokesman said.
Calpers, the largest U.S. public pension, is selling 16,300 unbuilt home sites and about 5,000 acres of undeveloped land in 11 states, spokesman Brad Pacheco said by telephone.