BWC makes first value-added real estate investment
The $21 billion Ohio Bureau of Workers' Compensation (BWC) has made a $50 million commitment to KTR Industrial Fund III, a value-added fund managed by KTR Capital Partners.
KTR Industrial Fund III was launched in April 2012 with a $750 million fundraising goal. The fund series focuses on value-added investments in the industrial sector. This is BWC's first value-added investment from its recently approved $1.27 billion real estate plan.
According to investment consultant R.V. Kuhns & Associates, the BWC plans to make seven noncore commitments, valued at approximately $50 million each, over the three-year period ending in 2015. For this year, two more investments are expected for the plan.
BWC has a target allocation to real estate of 6 percent. Thus far, the bureau committed a total of $950 million, or 4.5 percent of plan ass