AMB Property held its first closing of the AMB Institutional Alliance Fund I, raising $120 million in commitments. Investors include: the $6 billion pension fund of Citigroup, New York; the $2.3 billion John D. and Catherine T. MacArthur Foundation, Chicago; the $529 million Bush Foundation, St. Paul, Minn.; and the $2.2 billion endowment of the University of Chicago. AMB Fund I, which expects to raise $300 million for a final closing by years end, is acquiring and developing industrial distribution facilities in major U.S. cities near airports and interstate highways.
AMB Property held its first closing of the AMB Institutional Alliance...
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