Investors - FEBRUARY 13, 2014

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MassPRIM sets aside $1b for real estate and timber in 2014

by Reg Clodfelter

The Massachusetts Pension Reserves Investment Management Board will invest an estimated $550 million net into real estate and $500 million into timberland as a part of its 2014 investment plan.

Timothy Schlitzer, senior investment officer and director of real estate and timberland at MassPRIM, has confirmed these numbers.

Of the estimated $550 million in real estate investments, an estimated $345 million will be used for U.S. core investments across the four main property types through separate accounts with existing managers. The $345 million may include possible recapitalizations of properties where MassPRIM has existing debt. Investments are expected to be primarily domestic, but board staff will review attractive international deals if they arise. MassPRIM has invested in non-U.S. REITs since 2008, though it has yet

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