Fresno County Employees’ Retirement Association (FCERA) is considering a $115m (€96.3m) commitment to Harrison Street’s open-ended core US property fund.

The pension fund’s investment consultant Verus is recommending the capital commitment to Harrison Street Core Property Fund, an $8bn fund that targets alternative property types like student/senior housing, medical office/life science and some self-storage assets.

The consultant said in a meeting document that the alternative property types have demographic tailwinds and are not exposed to the challenges office/multi-family sectors face as people move away from densely populated urban areas.

So far, FCERA’s core real estate investment is a $174.1m investment in the Invesco Core Property Fund. This represents 3% of the pension fund’s 4% target allocation to core real estate.

Verus is also planning to recommend some non-core real estate funds to the pension fund later this year.

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