San Francisco-based private real estate investment company Strada Investment Group LLC entered into a new programmatic joint venture with California State Teachers' Retirement System, or CalSTRS, which approved an initial equity capital of $300 million to the new company.
The joint venture will focus on a build-to-core strategy in top-tier markets across the Western U.S., with an emphasis on investing in multifamily development projects in the San Francisco Bay Area.
BlackRock Real Estate served as adviser to CalSTRS for the new endeavor.
