Florida SBA buys US manufactured housing portfolio in $187m deal

Florida State Board of Administration (SBA) has bought a $187m (€159.4m) portfolio of manufactured housing assets in the US.

The pension fund said in a meeting document that it has acquired the portfolio of 11 assets totalling 1,641 homes via a separate account managed by MetLife. The pension fund provided $122m of equity to acquire the asset. 

MetLife did not respond to a request for comment.

Florida SBA said it has also invested $90.5m to buy the Savannah Trade Centre industrial asset in Savannah, Georgia through a separate account investment with Invesco Real Estate. Invesco declined a request for comment.

The pension fund said it has invested $68m the Central Port Logistics, a development project in Savannah managed by Stockbridge. The manager did not respond to a request for comment.

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