First Industrial, CalSTRS Form Euro JV

January 07, 2008, 2:00 p.m. EST 1 Min Read

First Industrial Realty Trust Inc., Chicago, and the California State Teachers' Retirement System, Sacramento, Calif., have formed FirstCal Industrial Europe LLC, a real estate investment joint venture. The venture has $475 million total investment capacity and is expected to focus on a broad range of real estate acquisitions, including: land for built-to-suit and speculative development; existing industrial facilities to be redeveloped, repositioned or leased; and sale-leasebacks. First Industrial can be found on the Web at http://www.firstindustrial.com.

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