MassPRIM slates $100m for BentallGreenOak real estate debt fund

The Massachusetts Pension Reserves Investment Management (MassPRIM) has allocated $100 million to the BentallGreenOak U.S. Value-Add Lending Fund, a real estate debt fund, IREI has learned.

The fund has a target of $500 million and is primarily targeting the multifamily and industrial sectors, and will also focus on other sectors such as hotels, life sciences and self-storage. The fund can also focus, to a lesser extent, on retail and office.

BentallGreenOak’s U.S. value-add lending strategy focuses on acquisition, refinance, opportunistic recapitalizations, capital improvement, lease-up, redevelopment/adaptive reuse and construction/development loan types in primary and secondary U.S. markets.