City of Tallahassee commits $20m to Heitman fund

The $1.5 billion City of Tallahassee (Fla.) Pension Plan has committed $20 million to Heitman Value Partners IV, according to Kent Olson, the city’s deputy treasurer-clerk.

Heitman Value Partners IV was recently launched in first quarter 2017. The value-added real estate fund will invest in hotel, apartment, industrial, office and retail properties across the United States. The firm is seeking to raise $900 million in equity commitments for Heitman Value Partners IV.

The pension plan previously committed $15 million to the fund’s predecessor, Heitman Value Partners III, in 2012. Fund III held a final close in 2015, raising $420.6 million in equity commitments. Heitman Value Partners III received commitments from the$186.2 billion Florida State Board of Administration, the $193.2 billion California State Teachers’