Alaskan Sovereign Wealth Fund Performs Landlord Walkthrough
Increasing in frequency, sovereign wealth funds center on due diligence when it comes to direct property investing. The Alaska Permanent Fund Corporation’s (APFC) Board of Trustees is conducting due diligence visits in February on flagship properties where the fund owns a significant stake. The trustees plan on touring Tysons Corner Center Mall and the Reserve at Tysons, located in McLean, VA. The Permanent Fund has US$ 500 million invested in Tysons Corner and owns 50% of the property along with REIT-developer Macerich. The wealth fund has been an investor in Tysons Corner Center since early 1985, successfully betting on the wealth and growth of DC’s suburbs.
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