Jim Hurley

  • Property Management

    Cash Crunch

    Jim Hurley, portfolio manager for the California State Teachers' Retirement System, known as CalSTRS and one of the largest pension funds in the country, seems anxious. With cap rates below 4 in some markets (an indicator of high apartment prices) and interest rates rising, CalSTRS and other investors risk negative leverage if they put debt on a property.

    8 MIN READ
    The numbers worked for institutional investor CalSTRS and Fairfield Residential Chambray to build the Victoria Arbors in Rancho Cucamonga, Calif.