SAN FRANCISCO -- AMB Property Corp. is looking for two large institutional investors to co-invest with on real estate purchases.
Hamid R. Moghadam, president and chief executive, emphasized the REIT wants "creative, opportunistic" pension fund investors that can invest at least $100 million. Each partnership will buy a total of at least $200 million or more in properties.
Erie Insurance Co. is the first institution to sign up, committing general account assets, according to Mr. Moghadan, who would not reveal the amount.
AMB, which went public last year through the rollup of pension fund properties for which it was the institutional manager, invests in industrial properties and grocery-anchored shopping centers.