Cox Guides CalSTRS In $800M LCOR, Lehman Real Estate Deal

Law360, New York (May 23, 2012, 10:21 PM EDT) -- The California State Teachers' Retirement System has purchased a majority interest in real estate investment, management and development company LCOR Inc. for $800 million, as well as properties owned by its former partner Lehman Brothers, LCOR announced Wednesday.

CalSTRS, the country’s largest teacher pension fund, is acquiring ownership stakes in 14 multifamily assets comprising nearly 5,000 apartment units and anticipates purchasing more investments in future LCOR multifamily and commercial real estate assets, LCOR said.

"We are extremely pleased to partner with such a quality company of...
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