Alaska Permanent Fund Corp. discloses $400m of real estate commitments

The Alaska Permanent Fund Corp. (APFC) has unveiled $400 million of new real estate commitments for the quarter ending June 30.

The sovereign wealth fund committed $300 million to CBRE U.S. Logistics Partners, an open-end industrial fund managed by CBRE Investment Management, and $100 million to a multifamily joint venture with Greystar Real Estate Partners.

In a board meeting packet for APFC’s upcoming Sept. 21-22 board of trustees meeting, Tim Andreyka, director of real estate with the APFC, said real estate plays an important role in the overall portfolio with characteristics of both debt and equity, with steady income and appreciation as properties get marked to market. He noted that real estate is a long-term asset requiring planning as he went through the pacing plan for the private markets, beginning with real estate. Andreyka said the pacing model reflected an incremental $700 million target for each year.

As of June 30, APFC had 9-percent allocation t