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Florida commits $250m more to noncore real estate

by Reg Clodfelter

The $178.2 billion Florida State Board of Administration has committed $150 million to Starwood Opportunity Fund X, managed by Starwood Capital Group, and $100 million to Europa Real Estate Fund IV, managed by London-based Europa Capital.

The board recently decided to commit up to $600 million to noncore real estate in 2014 after upping the target allocation to real estate from 7 percent to 10 percent in 2013. These commitments, combined with a $75 million commitment to European Property Investors Special Opportunities Fund III, managed by Tristan Capital Partners, and a $50 million commitment to Carlyle Realty Partners VII, managed by

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