Texas Municipal Retirement System (TMRS) has approved $325m (€300m) worth of new commitments into three US real estate funds as part of its plan to invest around $800m in the property sector this year.
In a meeting document, the $28bn pension fund said it will invest $200m in the Virtus Real Estate Enhanced Core fund, $75m in the value-add Berkeley Partners Value Industrial Fund V fund and $50m in the Abacus Core Income Fund I fund.
The Virtus fund will target property types like healthcare, self-storage, senior living, workforce/student housing and other education-related real estate assets.
Virtus Real Estate declined a request for comment.
The Berkeley Partners fund will be investing in light industrial properties. The manager Berkeley Capital Management seeks to invest in local infill, multi-tenanted and light industrial urban core properties.
The Abacus fund will target core apartment assets.
TMRS said Abacus has been one of the pension fund’s strongest performing real estate managers.
No comments yet