TIAA-CREF Closes on Gerding Edlen Investment

Dec 07, 2010

TIAA-CREF invests $29.8 million in Gerding Edlen’s Green Cities I, LP Fund

Gerding Edlen's portfolio includes sustainable urban developments such as the Brewery Blocks (pictured here)

The Portland Business Journal reports on Gerding Edlen's successful closing of a $29.8 million investment from TIAA-CREF (Teachers Insurance and Annuity Association—College Retirement Equities Fund), a New York investment giant for its Green Cities I, LP Fund.

Staff writer Wendry Culverwell writes, “In early November, TIAA-CREF said it would invest $50 million alongside Good Energy in companies that meet its sustainability targets. Officials weren’t immediately available to discuss how Gerding Edlen fits its investing goals, but the firm is one of the leading green builders in the U.S. with about four dozen LEED-rated projects to its credit.”

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