Florida State Board of Administration has increased its investment in Westport Capital Partners’s cold-storage fund with a new $100m (€88.4m) commitment.
The pension fund said it has placed additional capital into WCP NewCold III, following a previous $150m commitment to the same fund last November.
As previously reported, Westport is seeking to raise $2bn for the fund, which will invest in existing and new cold storage warehouses across the US, Europe and APAC.
Florida SBA said it has also approved a $114.7m commitment to a US build-to-core investment joint venture for the Westbend South apartment complex in Fort Worth, Texas. The pension fund’s investment was made via a MetLife Investment Management-managed separate account. MetLife did not respond to a request for comment.
Florida SBA said it made a medical office investment with the acquisition of a 83,000sqft two-building asset in Canton, Ohio for $42.2m. The transaction was made through a separate account with Heitman in a joint venture with Montecito Medical.
Florida SBA also invested $36m to acquire retail assets in Las Vegas and Glendale, Arizona, through a joint venture with Stockbridge.
To read the latest IPE Real Assets magazine click here.
