Florida State Board of Administration (SBA) has made US real estate debt and equity deals worth $442m through separate accounts, according to the pension fund’s first quarter 2024 investment report.
As part of a relationship with MetLife Investment Management, the pension fund invested $175m in the Columbus Transport Street/Rickenbacher core industrial property in Groveport, Ohio and made a $124.2m credit facility loan that will be used to provide construction financing on residential real estate.
MetLife also participated in the Mission Point residential development in Orlando, Florida. The manager invested around $68m across two phases of the project.
Florida SBA has made a $40.9m investment through Invesco Real Estate for the Charlotte Eastfield non-core industrial property in Charlotte.
The pension fund provided a $34.9m credit facility loan to finance the construction of an industrial property at Foundry Phase III. Stockbridge, through its Core and Value Advisors unit, managed this deal.
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