The Massachusetts Water Resources Authority Employees’ Retirement System (MWRAERS) has slated a total of $16 million for two value-add real estate funds, following an RFP issued in December 2021.
The pension fund will put $8 million each in TA Realty Value-Add Fund XIII and TerraCap Partners V. MWRAERS has existing relationships with both firms, a spokesperson for the pension fund confirmed in an email.
TA Realty Value-Add Fund XIII is the latest in TA Realty’s flagship series of value-add funds focused on acquiring industrial, office and multifamily assets, as well as grocery-anchored shopping centers in major U.S. markets.
The previous fund in the series, TA Realty Associates Fund XII, closed with $1.2 billion of total equity commitments in March 2020.
TerraCap Partners V, managed by TerraCap Management, opened to investors in March 2020 with a fundraising target of $400
