State of Wisconsin Investment Board (SWIB) has approved a $50m (€43.1m) commitment to CBRE GIP Medical Office Venture Fund, a core US medical office fund.

SWIB’s latest investment follows a $100m commitment the pension fund made to CBRE GIP Medical Office Venture in August 2018.

The $144bn pension fund told IPE Real Assets that it has decided to invest in medical office buildings due to “the stability of the tenant base with the property type and anticipated demand for healthcare services”.

The fund’s manager CBRE Investment Management declined a request for comment.

The Medical Office Venture Fund, which will mostly be buying existing properties, could target some development opportunities.

SWIB also disclosed in its meeting document that it has made a $150m commitment into the BentallGreenOak US Cold Storage fund.

According to sources, the fund is expected to have a maximum of five investors as it targets a fundraise of $300m to $400m.

BentallGreenOak declined a request for comment.

The pension fund has also committed $100m to High Street Real Estate Fund VII, a core US industrial real estate fund.

SWIB said it is planning to make five new real estate commitments worth $440m. One of the planned investments involves making a $100m commitment to a core-plus closed-ended manufactured housing fund.

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