Alaska Permanent loosens some real estate oversight

Alaska Permanent Fund Corp., Juneau, approved giving managers of its $2.7 billion real estate portfolio the discretion to purchase a total of $500 million in new investment property without prior approval from the system, said Laura Achee, communications and research liaison. The new policy will not include REITs, she said. The $28 billion system's real estate managers are AEW, CB Richard Ellis, Henderson Investors, Kennedy Real Estate Counsel, L&B Real Estate, LaSalle Advisors, Sentinel Real Estate and Wellington.