Paved streets, lamp posts and street and traffic signs wait for new homes at the CalPERS-owned Questa Village subdivision in the town of Mountain House west of Tracy off Highway 205. Carved out of pastureland a few years ago, the peaceful commuter town of Mountain House has become a major challenge for its lead landowner: CalPERS. The pension fund’s investment has lost $926 million of its original $1.2 billion value on paper, making it one of the single largest disasters in CalPERS’ troubled real estate portfolio.
Paved streets, lamp posts and street and traffic signs wait for new homes at the CalPERS-owned Questa Village subdivision in the town of Mountain House west of Tracy off Highway 205. Carved out of pastureland a few years ago, the peaceful commuter town of Mountain House has become a major challenge for its lead landowner: CalPERS. The pension fund’s investment has lost $926 million of its original $1.2 billion value on paper, making it one of the single largest disasters in CalPERS’ troubled real estate portfolio. Manny Crisostomo mcrisostomo@sacbee.com
Paved streets, lamp posts and street and traffic signs wait for new homes at the CalPERS-owned Questa Village subdivision in the town of Mountain House west of Tracy off Highway 205. Carved out of pastureland a few years ago, the peaceful commuter town of Mountain House has become a major challenge for its lead landowner: CalPERS. The pension fund’s investment has lost $926 million of its original $1.2 billion value on paper, making it one of the single largest disasters in CalPERS’ troubled real estate portfolio. Manny Crisostomo mcrisostomo@sacbee.com
Capitol Alert

Capitol Alert

The go-to source for news on California policy and politics

Dan Walters: CalPERS may be reforming

October 19, 2015 03:31 PM