California State Teachers’ Retirement System (CalSTRS) has disclosed approving $2.5bn (€2.1bn) worth of real estate commitments during the first half of 2021.

The $311bn pension fund said it placed around $712m into CP Logistics Canada Platform joint venture through a separate account investment with manager Principal Real Estate Investors and operating partner Panattoni Development Company.

CalSTRS said it holds a 95% stake in the platform which targets industrial assets in Canada.

The pension fund, which holds a $37bn real estate portfolio, said it committed $400m each to CrossHarbor and Heitman to invest in value-add assets and $297m to PacificCal Debt V, a debt joint venture with PCCP.

For real estate fund commitments, CalSTRS made a $150m commitment to Artemis Real Estate Partners Healthcare Fund II and another $150m for co-investment opportunities alongside the fund. It also placed $150m and $250m respectively into the AEW Value Investors Asia IV and Belay Ventures III value-add funds.

To read the digital edition of the latest IPE Real Assets magazine click here. 

Topics