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Investors - JUNE 8, 2021

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City of Phoenix Employees’ backs American Landmark Fund III

by Kali Persall

The $3.14 billion City of Phoenix Employees' Retirement System (COPERS) has committed $30 million to American Landmark Fund III, a value-add multifamily fund managed by American Landmark Apartments.

The fund opened to investors in April, according to a document filed with the SEC. A fundraising target was not disclosed.

A spokesperson from COPERS said in an email that this was the first commitment American Landmark Apartments. COPERS has a 12 percent target allocation to real estate.

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