The State Board of Administration of Florida (SBA) announced its Real Estate Class Update in its December Investment Advisory Council meeting. In the meeting materials, SBA reviewed its real estate transaction activity since its previous report in September.
Since its previous Investment Advisory Council report, SBA has invested $260.6 million in principal investments, with $121.3 million in industrial acquisitions, $3.1 million in retail acquisitions, $85.7 million in commercial office dispositions and $50.5 million in cold storage credit facility loans. In addition, it has committed $250 million to externally managed funds, including $150 million to a global noncore opportunistic fund and $100 million to a U.S. core-plus fund.
SBA is a public pension fund that manages the assets of the Florida Retirement System Pension Plan. As of Dec. 31, 2023, SBA had $180.4 billion in total assets, with a 12 percent target allocation to real estate and $20.9 billion allocated to r
