That's one possible interpretation of CalPERS (California Public Employees' Retirement System) and their announcement yesterday that the system is going to allocate 10% of assets towards real estate.
The Calpers fund is worth about $250 billion, which isn't a bad day at the office. In a time when people are fleeing real estate, Calpers is diving into the pool by putting another $5 billion into the market It's almost as though someone taught them how to buy low and sell high..... (Besides, even in California, you can buy a good bit of property with $5 billion.)
If you have money to put into play, this is a great time to buy and hold multi-family housing, as a number of properties that should be good deals and snapped up quickly are moving more slowly. While commercial real estate is still a long way from the apocalypse that some have forecasted for it, there is room to make a value play on some properties.
Give me a call and see if I can help!
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