Alaska Retirement Management Board allocates $400m for core real estate

Alaska Retirement Management Board (ARMB) is planning to invest $400 million in core real estate in the 2022 fiscal year,  as part of its effort to achieve a 35 percent allocation target.

The allocation process is expected to take at least 12 months or longer and will incrementally add investments over time.

The plan is to increase the UBS separate account allocation by $140 million to reinvest financing proceeds in order to grow and diversify that core portfolio. UBS is targeting apartment properties within a multi–property type discretionary mandate. In addition, $125 million was allocated to Sentinel Real Estate last year to grow ARMB’s separate account apartment portfolio. A total of four to six additional property investments are expected, bringing the total portfolio to seven to nine properties.

In addition, ARMB is planning to commit an additional $135 million to core open-end funds and consider new and existing funds.