Endowment Realty Investors II - a private real estate investment trust sponsored by The Common Fund - made its first capital call June 30, and among the investors to ante up were the endowments for the Pomfret School, the College of William & Mary and Randolph Macon College.
In all, 66 institutional investors committed $176 million, said Michael Guido, vice president, real estate for The Common Fund.
The $20 million Pomfret School, Pomfret, Conn., committed $750,000; the $130 million endowment for William & Mary, Willamsburg, Va., committed $7.5 million. An official for the $35 million endowment of Randolph Macon, Ashland, Va., declined to reveal the amount the school invested in the fund.
Endowment Realty Investors II will focus on residential, retail, industrial and office properties, and will use multiple managers to execute its strategy, according to Mr. Guido.
The managers are: Chicago-based Heitman Advisory Corp., JMB Institutional Realty Corp. and LaSalle Advisors Ltd.; Sentinel Real Estate Corp., New York; and TCW Realty Advisors, Los Angeles.
Sentinel and JMB will focus on apartments, and TCW will make office, industrial and retail investments. Heitman and LaSalle will be able to make investments in all property types, according to Mr. Guido.