Florida State Board of Administration (SBA) has completed $177m (€166.1m) worth of US real estate acquisitions via separate accounts and joint ventures.

The pension fund said it has invested $89.2m as part of a separate account with Invesco Real Estate to acquire the Stonemont Southeast Core Portfolio of two fully-leased industrial assets in Nashville and Atlanta.

Invesco Real Estate declined a request for comment.

Florida SBA said as part of its opportunistic strategy, it made a $61.4m equity investment into the Bolton Yard apartment complex project in the upper west side of Atlanta. The project will be managed by MetLife Investment Management.

As part of a joint venture with L&B Realty Advisors, the pension fund said it invested $17.2m in a 220,000sqft cold storage development project in Nashville and acquired a 170,000sqft cold storage property in Denver for $9.2m.

Florida SBA and L&B Realty Advisors formed the US cold storage joint venture last year to target new development and value-add assets.

L&B Realty Advisors declined a request for comment.

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