The San Francisco Employees' Retirement System (SFERS) has committed $60 million to Alterra IOS Venture II, IREI has learned.
Alterra IOS will invest in smaller, infill industrial outdoor storage (IOS) properties that will operate on triple-net leases. Alterra will pursue a range of value-added initiatives diversified by lease term, geography and tenancy.
Ventura County (Calif.) Employees’ Retirement Association (VCERA) is also an investor in the fund. In early March, the pension fund said Alterra IOS Venture II had exceeded its $400 million fundraising target and was approaching its $500 million hard cap when an investor unexpectedly pulled out, freeing a slot for VCERA.
SFERS could not be reached to comment on the investment at the time of publication.
For more information about this fund and others, please visit our IREI.Q database.
