Publications

Investors - MARCH 16, 2015

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

Maine PERS commits $150m to real estate

by Andrea Waitrovich

The $12.7 billion Maine Public Employees Retirement System has committed $150 million to two real estate funds.

The pension fund committed $50 million to Senior Housing Partners V, a real estate fund managed by Prudential Real Estate Investors. The firm is seeking $500 million of equity commitments for its fifth investment fund targeting the senior-housing market. Senior Housing Fund V will look to buy properties on its own and in joint ventures, and may originate debt, including mezzanine loans. 

The fund is targeting independent-living, assisted-living and dementia-care facilities as well as properties that include all three components. It will target private-pay properties only, meaning those whose tenants do not rely on government reimbursements to pay their rents. The fund has a value-add strategy, so it will pursue properties that might have occupancy issues or are in need of improvements. 

Maine PERS also invested $100 million in U.S.

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy