SSgA's real estate investment capability is provided through The Tuckerman Group, an independently managed company of State Street Global Alliance, LLC. The firm is a jointly owned subsidiary of State Street Global Advisors and Dutch pension fund, ABP. Its capabilities include direct, private real estate investments as well as management of public real estate securities portfolios (i.e. REITs). It brings to its investors decades of considerable investment, development (ground-up and value-added), asset management, and leasing and capital market experience, reinforced by SSgA's powerful global asset management, research and execution capabilities.

Teamwork and Experience
The firm is comprised of dedicated real estate and investment professionals with an average of more than 15 years of experience. Clients benefit from this long-standing collaboration as well as access to nationwide contacts throughout the real estate industry. These relationships provide a wealth of investment opportunities and a constant flow of due diligence activity, market intelligence, borrower/investor reconnaissance, and pricing/capital market feedback.

Capabilities
Believing that superior real estate investing is both an art and a science, a blend of "know how" and "how to" that is developed only after years of consistent effort, the company embodies a skillful blend of real estate and asset management/capital market expertise that spans a variety of investment disciplines including:

• acquisitions
• development and redevelopment
• securities analysis
• finance/capital markets research
• asset management
• capital management
• dispositions
• advisory services

Direct Investments
The Tuckerman Group seeks to implement carefully targeted, direct investment strategies that match investor demands with real estate economic conditions and market trends. Investment managers and brokers have extensive experience with private equity and debt investment across a broad spectrum of property types and markets. SSgA participates in several of these programs as a co-investor.

Real Estate Investment Trusts
Both active and passive REIT strategies are offered, on a pooled or separate account basis.

Consulting Services
Utilizing its extensive knowledge of the real estate industry and relationships with key outfits in each sector, The Tuckerman Group also provides investors with customized value creation and enhancement strategy consulting services on both a portfolio and property-level basis.

If you would like more information about our Real Estate capabilities, please contact us.