State Teachers Retirement System (STRS) of Ohio is planning to pursue a balanced real estate trading activity in the current fiscal 2023 year.
The $92bn (€90.5bn) pension fund disclosed in a meeting document that in the fiscal year beginning 1 July, the amount it plans to invest in real estate will be similar to the proceeds it receives from property disposals.
STRS Ohio’s real estate portfolio for the year ended 30 June 2022 is expected to be $9.3bn compared with $7.9bn recorded at the beginning of the 2022 fiscal year.
In the current year, the pension fund said it expects its direct acquisition staff to pursue real estate investment opportunities that may arise, adding that it will also consider making some commitments to real estate funds.
In fiscal 2022, STRS Ohio made an $83m commitment to a European real estate fund and invested $100m in a fund that targets investments in Asia in fiscal 2022, the pension fund disclosed.
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