Colorado pension fund commits $20m to real estate
The $4.26 billion Fire and Police Pension Association of Colorado has committed $20 million to Velocis Fund II, according to a statement.
The value-added fund focuses on traditional office, medical office, data center and retail properties in select U.S. growth markets. Recent acquisitions by the fund have included an office building in Scottsdale, Ariz.; an office property in Sterling, Va.; and a data center in Charlotte, N.C.
The fund, which launched in June 2014, is targeting $300 million in equity commitments and has so far raised $120 million. With leverage, the fund will have approximately $850 million in purchasing power.
The fund’s predecessor held a