Cornerstone Real Estate Advisors closed the $160 million Cornerstone Rotational Venture Fund. Investors in the value-added closed-end fund include the $70 billion Wisconsin State Investment Board, Madison; the $30 billion Alaska State Pension Investment Board, Juneau; and Cornerstone parent firm MassMutual Financial Group, said Bob Staley, Cornerstone spokesman.
The venture assumes the ownership from MassMutual of seven office and apartment properties with a combined market value of $290 million, Mr. Staley said.
