New York State Common Retirement Fund (NYSCRF) has acquired a $85.4m (€78.3m) US industrial property from MRP Industrial.
The City Logistics industrial property in Baltimore was acquired by NYSCRF through its separate account real estate programme. Clarion Partners, the transaction manager for, did not respond to a request for comment.
MRP Industrial developed the two-building complex, completed in 2023 with financial backing from JP Morgan, according to published reports.
NYSCRF said: “The asset is a modern logistics property that is well located within a strong infill industrial market with near immediate access to I-95, a major freeway in the region.”
The property’s current occupancy is at 73%, the pension fund added.
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