Florida State Board of Administration (SBA) has invested $200m (€199.1m) to acquire a 222,683sqft industrial property in Southeast US.
The pension fund said it has bought the fully-leased Tilford Yards in Atlanta through a separate account relationship with Stockbridge’s Core & Value Advisors arm. Stockbridge declined a request for comment.
Florida SBA also made a $100m commitment to the EQT Exeter Industrial Value Fund VI value-add fund.
The pension fund said it also invested $38.8m with Heitman and Montecito Medical to invest in core US medical offices. The investments, completed by Heitman, comprise an asset located in Flowood in Mississippi, another in Cape May in New Jersey, an asset in King of Prussia, Pennsylvania and a fourth asset in Norfolk in Virginia.
Florida SBA, through a separate account relationship with L&B Realty Advisors, provided $11.1m of equity for a 3% stake in a 485-unit residential project at 555 Bryant Street in downtown San Francisco being developed by Strada Investment. The investment in 555 Bryant will give the pension fund a 3% ownership of the property.
The pension fund also made $2.9m investment via the L&B separate account to acquire a small industrial asset in the Meadowlands project in New Jersey. This is the 11th asset in this area that L&B has acquired.
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