Florida State Board of Administration has invested $147.7m (€129.1m) to acquire three US real estate assets in separate transactions.
The pension fund disclosed in a meeting document that it invested $54.1m to buy the newly developed Harmon Carillon single-family rental project in Lawrenceville, Geoirgia, paid $50.2m for two student housing assets in Los Angeles and invested $43.3m to acquire the 321-unit Westbend South project in Fort Worth, Texas.
The Harmon Carillon, which will have a total of 151 rental homes when completed, was acquired via a separate account investment with Heitman.
The Los Angeles student housing assets were acquired via a separate account relationship with Stockbridge. The properties include the 252-unit Icon Plaza, currently 89.3% occupied, and the 161-unit West 27th complex, which is 87.2% occupied. MetLife is the manager Texas apartment project.
Florida SBA said the latest acquisitions were partially offset by the sale of two student housing assets, managed by Heitman, for $89.5m.
The disposed assets included the 282-unit Hannah Lofts complex in East Lansing, Michigan, held for over 10 years, and the 180-unit Beacon complex in Auburn, Alabama, owned for more than 9 years.
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