Massachusetts Pension Reserves Investment Management Board (Mass PRIM) increased its private real estate investments in the second quarter of the year, with a net deployment of $118m (€101.1m).
The pension fund disclosed in a board meeting document that during the three months ended 30 June, it acquired a warehouse portfolio and sold a small warehouse. However, Mass PRIM declined a request for additional information on these transactions.
Mass PRIM also disclosed that the two separate $150m commitments it made to managers DSW and PGIM in November 2024 have been fully deployed. The capital, intended for investments in US public real estate investment trusts (REIT), was fully invested by April of this year.
Mass PRIM ended its fiscal year ending 30 June with REITs delivering a 6.1% return exceeding the MSCI REIT Index benchmark by 281 basis points, according to the pension fund.
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