West Virginia Investment Management Board (WVIMB) has approved three new real estate commitments worth $157m (€144.3m) in total.
According to the pension fund, it has committed €30m to the opportunistic Harrison Street European Property Partners III fund, $75m to the CBRE US Credit Partners debt fund and $50m to the value-add Westbrook Real Estate Fund XI fund.
Harrison Street’s third European property fund will be buying and developing student accommodation and life science assets.
The open-ended CBRE Global Investors fund will originate and invest in loans on transitional US assets.
WVIMB said in a meeting document that the Westbrook fund will target assets where value can be added through capital improvements, redevelopment, enhance operating efficiencies or leasing activities.
As previously reported Westbrook has recently concluded its $2.54bn capital raise, exceeding its $2.5bn target but below its hard cap of $2.95bn.
