Less than two weeks after acquiring an $82 million real estate portfolio, Chicago-based First Industrial Realty Trust has extended its agreements for its joint ventures with the California State Teachers’ Retirement System(CalSTRS), the second-largest public pension fund in the nation with a $160 billion portfolio. CB Richard Ellis Investors is the advisor to CalSTRS on the ventures. First Industrial and CalSTRS have extended the terms of all five joint ventures through December 2018: the $1.6 billion Development and Repositioning JV (FirstCal 1), the $1.6 billion Strategic Land and Development JV (FirstCal 3), the $475 million FirstCal Europe JV, the $285 million FirstCal Canada JV, and the 2005 Core JV (FirstCal 2), which was formed for the acquisition of a $1 billion portfolio. First Industrial and CalSTRS have also extended the respective investment periods for the Development and Repositioning JV, the Strategic Land andDevelopment JV, FirstCal Europe, and FirstCal Canada through December 201.1 First Industrial has added approximately $5 billion in joint venture capital capacity with CalSTRS since 2005, according to information provided by First Industrial. As manager of these ventures, First Industrial receives a range of fees and has the opportunity to earn performance-based incentives from each of the ventures. On Sept. 17, First Industrial announced dividends of $0.72 per share of common stock for the quarter ending in September. On Sept. 9, the firm acquired an approximately $82 million real estate portfolio from ADESA Inc., a subsidiary of KAR Holdings Inc. In total, First Industrial will acquire ADESA’s interest in and lease back to ADESA the land at eight vehicle auction sites totaling more than 800 acres with initial lease terms of 20 years for each property, together with additional renewal options to extend the term of each lease by up to an additional 20 years. First Industrial Realty Trust has locations across more than 30 markets in the United States, Canada, The Netherlands, Belgium, France and Germany. The firm’s local market representatives buy, develop, redevelop, lease, manage and sell industrial properties, including among major facility types including bulk and regional distribution centers, light industrial, manufacturing and R&D/flex. The company owns, manages or has under development nearly 100 million square feet of industrial space.