The Florida State Board of Administration (SBA) provided information on more than $1 billion in real estate transactions during fourth quarter 2024, according to its New Managers Report.
SBA invested $100 million as a follow-on commitment to Carlyle Property Investors, a core-plus fund of Carlyle Investment Management. The board also invested $150 million to Principal Real Estate Investors’ Principal Data Growth & Income Fund an opportunistic, closed-end fund targeting data center investments.
In the fourth quarter, SBA made more than $435.7 million in joint venture transactions with Core and Value Advisors, an affiliate of Stockbridge Capital Group. In addition, it invested more than $73.4 million in joint venture transactions with Invesco Advisors, $53.2 million in joint venture transactions with Heitman Capital Management and $144.2 million in a joint venture transaction with MetLife Investment Management.
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