State of Wisconsin Investment Board (SWIB) has closed on two new real estate commitments worth $210m (€171m), according to a board meeting document.
The pension fund confirmed it was going ahead with a $110m co-investment in a US life-science real estate portfolio, which it was considering late last year.
SWIB did not provide any information about the portflolio but said it was investing in a structure called Investments Partnership Fund Vehicle A.
There have been a number of large life-science real estate portfolio transactions recently, including most recently the trade of a $3.45bn portfolio between Blackstone and Brookfield Asset Management.
SWIB told IPE Real Assets that “life science properties are faring much better than traditional office buildings from the effects of the pandemic”.
The pension fund also confirmed a $100m commitment to Heitman Real Estate Debt Partners II, which is seeking to raise $500m, according to sources that track real estate fundraising in the US.
Heitman did not respond to a request for comment.
The fund pursues a value-add strategy, according to SWIB, investing in senior bridge loans, senior construction loans and subordinate credit instruments.
SWIB is also considering $341m of new real estate investments, including a $200m multifamily joint venture, a $100m commitment to an opportunistic industrial closed-ended fund and $41m core office joint venture.
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