Ohio BWC plans to invest $150m in value-add real estate funds

Ohio Bureau of Workers Compensation Board (Ohio BWC) is planning to make $150m (€135m) worth of commitments to its value-add real estate funds this year, according to a board meeting document.

Ohio BWC, which is being advised investment consultant RVK, expects to invest in two or three new funds.

The institutional investor will consider senior-housing funds and other single-sector specialist vehicles.

At the end of last year, Ohio BWC’s value-add real estate portfolio, which includes senior housing, debt, hotels and apartments – was worth $525m.

As reported this month, Ohio BWC added to its value-add portfolio by committing $75m to PGIM Senior Housing Partnership VI.

The $27bn provider of workers’ compensation insurance has a 2% target allocation for value-add real estate.

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