California State Teachers Retirement System (CalSTRS) made $681m (€623m) worth of real estate investments during the second half of 2023, including $150m each towards manufactured housing communities and self-storage.
The pension fund placed $150m each into Legacy Communities, a value-add manufactured housing communities investment joint venture, and the SROA Collaborative Managed Account, to target self-storage assets on an opportunistic basis.
SROA Capital, the manager overseeing the account did not respond to a request for comment.
CalSTRS said it has also placed $100m into the Clarion UK Logistics Fund and committed $150m to Fortress Collaborative Managed Account, a Fortress Group managed strategy that targets a diversified portfolio on an opportunistic basis.
The pension fund committed $131m to 3650 REIT Special Situations Fund I, an opportunistic fund cum co-investment vehicle.
During the second half of 2023, CalSTRS offloaded $1.2bn worth of assets, the pension fund said.
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