CalPERS Transitions National Office Partners Portfolio to CommonWealth Partners LLC
January 3, 2011 — SACRAMENTO, CA – The California Public Employees’ Retirement System (CalPERS) today announced the year-end transfer of its National Office Partners (NOP) real estate portfolio from Hines to CommonWealth Partners LLC (CWP). The $998 million portfolio ($724 million in market value plus debt) consists of approximately 5.2 million square feet of Class A office properties in office markets across the United States including Boston, Chicago, Seattle, San Francisco, Palo Alto, Minneapolis, Salt Lake City, Austin and Denver. The transfer is part of the pension fund’s broad strategic realignment of its real estate program.