City of Phoenix Employees’ backs American Landmark Fund III
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.