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California State Teachers Retirement System

BUSINESS
February 12, 2002 | BRAD BERTON, SPECIAL TO THE TIMES
The California State Teachers' Retirement System has purchased the Plaza at the Arboretum apartment and retail complex in eastern Santa Monica's commercial hub in one of the largest local residential deals in recent years. The pension fund for the state's public school educators made an initial payment of nearly $76 million for the 351-unit complex at 2200 Colorado Ave., according to a CalSTRS Investment Committee report.
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BUSINESS
December 5, 2000 | BRAD BERTON, SPECIAL TO THE TIMES
The California State Teachers' Retirement System has purchased nearly 400,000 square feet of office properties along Town Center Drive in Valencia for $72.3 million in cash. CalSTRS, through an investment program managed by Los Angeles-based Thomas Properties Group, purchased four buildings, including Princess Cruises' headquarters, from Newhall Land & Farming Co., the Santa Clarita Valley's biggest land developer. Newhall Land reported that the sale price is $7.
NEWS
June 8, 2000 | JULIE TAMAKI, TIMES STAFF WRITER
Reacting to concerns that the tobacco industry could declare bankruptcy, the investment committee of the state's huge teachers pension fund voted Wednesday to dump virtually all of its tobacco holdings. The decision by the $110-billion State Teachers Retirement System paves the way for the fund to divest itself of roughly $238 million in tobacco stocks. That represents less than 0.35% of the system's equity holdings.
BUSINESS
April 14, 2000 | Reuters
The chief investment officer of the nation's third-largest public pension fund, the California State Teachers' Retirement System, has tendered his resignation, effective July 15. The pension fund said late Thursday that Patrick Mitchell will leave to pursue other opportunities. Under Mitchell's direction, the investment portfolio grew from $74.8 billion in June 1997 to $113.6 billion by March 31 of this year, the pension fund said in a statement. The fund posted an 18.
NEWS
April 6, 2000 | From a Times Staff Writer
In preparation for possible unloading of its tobacco holdings, the investment committee of the $110-billion state teachers' pension fund directed its chief investment officer Wednesday to draft a divestment policy. The move comes amid growing pressure by teachers' groups and state Treasurer Phil Angelides on the California State Teachers Retirement System to divest $319 million in tobacco stocks.
NEWS
April 5, 2000 | JULIE TAMAKI, TIMES STAFF WRITER
The debate over whether the massive state teachers pension fund should divest itself of tobacco stocks is set to heat up today. Members of the investment committee of the $110-billion State Teachers' Retirement System are expected to take up the issue at their monthly meeting in the capital, where several studies on the topic will be presented. The CalSTRS board decided against selling its tobacco holdings in 1998.
CALIFORNIA | LOCAL
February 2, 2000 | NOAKI SCHWARTZ, SPECIAL TO THE TIMES
With a slow-growth initiative looming, the California Teachers Retirement System is withdrawing its construction plans for Newport Center on the heels of the Irvine Co.'s decision last week to halt its development plans there. In a surprise move Jan. 27, Irvine Co. Executive Vice President Gary H. Hunt withdrew plans for expansion of the center, citing a slow-growth measure going before Newport Beach voters Nov. 7.
BUSINESS
January 7, 2000 | SHARON BERNSTEIN, TIMES STAFF WRITER
The state's influential teachers pension fund voted Thursday to develop a model under which public school teachers could receive health benefits directly from doctors, rather than buying insurance through a traditional health plan.
BUSINESS
January 6, 2000 | Sharon Bernstein
A controversial proposal to bypass insurers and contract directly with doctors to provide health coverage for 500,000 current and retired teachers is set to come before the health benefits committee of the State Teachers Retirement System board in Sacramento today.
NEWS
December 24, 1999 | DAN MORAIN, TIMES STAFF WRITER
Treasurer Phil Angelides announced Thursday that he is urging that the huge state teachers' pension fund consider divesting itself of all tobacco stocks, joining the Los Angeles teachers union, which issued a similar call last month. Angelides also said Thursday that he will not invest any of the $33 billion in state money he manages in tobacco stocks, continuing a trend. Since 1995, the treasurer's office has not invested in tobacco stocks.
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