Houston Firefighters commits $25m to real estate
The Houston Firefighters’ Relief & Retirement Fund has committed $25 million to AEW Senior Housing Investors III, according to recent meeting documents. The value-added fund, managed by AEW Capital Management, was launched earlier this year. The fund series invests in age-restricted, independent living, assisted living and memory care communities. The pension fund has a 5.5 percent target allocation to real estate and a 5.54 percent actual allocation to the asset class.