Baltimore City Fire & Police commits $60m to three real estate funds

Baltimore City Fire & Police Employees' Retirement System has committed a total of $60 million to three real estate funds, a spokesperson for the pension fund confirmed in an email.

Baltimore committed $20 million each to ABR Chesapeake Fund VI, a value-added fund managed by Alex.Brown Realty; BIG Real Estate Fund II (BIG II), a debt fund managed by Basis Management Group; and Kayne Anderson Real Estate Partners VI (KAREP VI), an opportunistic fund managed by Kayne Anderson Capital Advisors.

ABR Chesapeake Fund VI is targeting $400 million of capital commitments and will invest in value-added properties across asset classes that it can redevelop, reposition or recapitalize, including ground-up construction.

Basis Investment Group is a commercial real estate investment manager primarily focused on debt and structured equity strategies. The company originates and acquires diversified commercial real estate debt investments across the capital stack of stabilize