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Michigan Retirement recently committed $25 million to Lowe Hospitality Investment Partners, a value-added fund managed by Lowe Investment Management
Real Estate Alert, May 26, 2004
Michigan Retirement recently committed $25 million to Lowe Hospitality Investment Partners, a value-added fund managed by Lowe Investment Management. The Lowe fund now has $250 million of equity, giving it $700 million of buying power. It is targeting average annual returns of 15-18%. The $46.4 billion Michigan pension plan has $3.7 billion, or 9.9% of its assets, invested in real estate.
It doesn't use a consultant.
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