New York State Teachers' Retirement System , Albany, with $88 billion...

New York State Teachers’ Retirement System, Albany, with $88 billion in assets, contributed $25 million to fund a $50 million commercial mortgage loan to Watson Land. Prudential Mortgage Capital, a unit of Prudential Insurance Co. of America, funded the other 50% of the loan, which Prudential originated and will service for both investors. It is secured by a cross-collateralized real estate portfolio of 12 industrial properties in Watson Industrial Center South, a 1.7 million-square-foot industrial park in Carson, Calif., which is 100% occupied.