Miami Beach Firefighters and Police slates $18m for three real estate commitments

Miami Beach Firefighters' and Police Officers' Pension Plan has unveiled investments to three real estate funds, according to board-meeting minutes.

The pension fund committed $8 million to Artemis Real Estate Partners Fund IV, managed by Artemis Real Estate Partners; $5 million to TerraCap Partners V, managed by TerraCap Management; and $5 million to Affiliated Housing Impact Fund, managed by Affiliated Development.

Artemis Real Estate Partners Fund IV opened in March 2021 with a $1.5 billion fundraising target. The fund will make value-add investments across property types, including apartment, office, industrial, healthcare, self-storage, hotel and retail assets.

TerraCap Partners V opened to investors in March 2020 with a fundraising target of $400 m