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Retail icons are being toppled, spelling major trouble for US shopping malls as a cascade of defaults looms.
Capital providers and their managers are seeking fresh pockets of value as fundraising in the sector dips.
With commercial properties shuttered and daily life shifted online, data-centric real estate has thus found itself higher on investor wish-lists.
The pension fund, among others, is concerned about the additional risks managers in the strategy are taking in order to meet higher return targets.
The pension system is investing with a startup, but it has a long history with one of the firm’s founders.