Employees Retirement System of Texas has acquired a new stake in Elme Communities (NYSE:ELME), according to a recent filing with the Securities and Exchange Commission. The fund purchased 90,000 shares of ELME stock, valued at approximately $1,228,000. This acquisition by the Employees Retirement System of Texas adds to the growing list of large investors who have recently increased their holdings in ELME. Illinois Municipal Retirement Fund also purchased a stake in ELME during the third quarter, while Handelsbanken Fonder AB and Schonfeld Strategic Advisors LLC increased their positions in the company. Daiwa Securities Group Inc. and Healthcare of Ontario Pension Plan Trust Fund are among the other investors who have recently acquired stakes in Elme Communities. In total, hedge funds and institutional investors now own 88.48% of the company's stock.
ElmTree Funds has launched ElmTree Industrial Trust and ElmTree Industrial Access Trust, two perpetual-life real estate investment trusts (REITs) that will acquire and manage a diversified portfolio of net lease industrial properties. The REITs will primarily invest in single-tenant, stabilized, income-producing industrial properties with long-term net leases. The initial purchase price for shares is $1,000 per share. ElmTree Industrial Trust is available to registered investment advisors, while ElmTree Industrial Access Trust is available to independent broker-dealers. The REITs acquired a 169,543 square-foot industrial property in St. Louis, Missouri, which is 100% leased to BASF Corporation. The REITs will be sold on a continuous basis, with the purchase price varying quarterly based on the REITs' net asset value. ElmTree believes that this structure allows for maximizing shareholder distributions and acquiring desired assets.