SWIB funnels $389m into real estate funds and separate account

State of Wisconsin Investment Board (SWIB) has added $389m (€346m) worth of new commitments and investments to its real estate portfolio.

In a board meeting document, SWIB said it approved a $75m commitment to the High Street Real Estate Fund VI and $100m to PGIM Senior Housing Partnership Fund VI.

Through separate account manager TGM Associates, SWIB has also paid $142.2m for the 394-unit Wilson Harbor Beach apartment complex in Fort Lauderdale, Florida and made a $71.6m co-investment in the 135 Morrissey office property in Boston. The property is part of the Alcion Real Estate Partners Fund III.

SWIB said High Street Realty Company’s fund will increase its exposure to the industrial sector in major US markets. The fund, which seeks a $450m fundraise, had a $175m first closing in March, according to sources.

As reported last month, PGIM Real Estate’s sixth US senior housing fund had at the time raised just over half of its $750m fundraising target.

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