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Sign in Sign up for a FREE subscriptionFSBA commits $125m to value-added real estate in Q3
The $195.6 billion Florida State Board of Administration committed $125 million to two real estate funds in third quarter 2017, according to John Kuczwanski, manager of external affairs for the pension fund.
The first commitment was $50 million to CapMan Nordic Real Estate Fund II, managed by CapMan Real Estate, a Finland-based investment firm. The value-added fund held a €425 million ($494 million) final close in September.
CapMan is a Nordic alternative in the real estate market and invests mainly in office, retail, hotel and residential properties in Finland, Sweden, Denmark and Norway. The firm has made more than 100 real estate transactions so far.
The second commitment was $75 million to Heitman Value Partners IV, a value-added fund managed by Heitman, the global real estate investment management firm. The firm has rai