18
Jun
California Real Estate Sales Loss
Calpers suffers a $367.5 Million loss over just a five year period on a Arizona real estate deal.
Bloomberg News recently reported that the California Public Employees’ Retirement System was part of a group of investors in a 10,200-acre desert land deal in Arizona that was purchased for $400 million five years ago. This same land parcel was just sold for $32.5 million. Read more 