New York State Common Retirement Fund (NYSCRF) has allocated $620.7m (€533.8m) to US healthcare real estate across a separate account acquisition and a newly established fund-of-one manager mandate.
The pension fund acquired a $220.7m inpatient rehabilitation facility portfolio comprising seven properties across Arizona, Nevada, Oklahoma, Pennsylvania and Texas.
The 455,861sqft portfolio was acquired through a separate account advised by Heitman, alongside an undisclosed joint venture partner.
NYSCRF also committed $400m to Nuveen Real Estate’s US Strategic Fund I. The fund-of-one, which will focus on developing healthcare real estate assets, marks the pension fund’s first investment with Nuveen Real Estate as a property investment manager.
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