Because Bloomberg, in this story on the Museum Tower/ Nasher fracas, which actually and interestingly focuses more on the investments, more accurately the risks, taken by the $3.1 billion Dallas Police & Fire Pension System, linked back to the Dave Perry-Miller agent’s website:
“With 52 percent of its assets invested in recent years in such alternatives as the $200 million Museum Tower and the “American Idol” production company, it takes more risk than any U.S. public retirement plan, according to researcher Preqin Ltd. “
Andrew Biggs, who has studied pensions as a resident scholar at the American Enterprise Institute in Washington, thinks it’s not so hot to have half your assets in alternatives, such as Museum Tower real estate and the company that produces American Idol, America’s most-watched show, which just signed a 2 year, $30 million deal with Ryan Seacrest.
But this can work if you just get a little pro-active: Seacrest can now well afford a penthouse at Museum Tower!
— Daily Local Real Estate Dish By Dallas Real Estate Insider — Candy Evans at CandysDirt.com