Who is the largest commercial landowner in the US?
That was a discussion we had recently — various REITs, Builders, Governments, etc. private equity were all tossed out as possibilities.
When a knowledgable person put forth their answer, it totally suprised me: TIAA-Cref (known casually as "Teachers"). They run over $400 billion dollars, which is no small amount of change.
Apparently, long before REITs were all-the-rage, Teachers started owning major commerical properties directly (on behalf of their shareholders).
I’d love to verify this somewhere, if anyone can . . .