Montana commits $90m to real estate funds
The $11.2 billion Montana Board of Investments has committed a total of $90 million to three real estate investment vehicles, according to a board meeting document.
The pension fund committed $30 million each to Stoltz Real Estate Fund VI, managed by Stoltz Real Estate Partners; BKM Industrial Value Fund II, managed by bkm Capital Partners; and Centerbridge Partners Real Estate Fund, managed by Centerbridge Partners.
Stoltz Real Estate Fund VI launched in June 2017 and focuses on value-added/core-plus office, industrial, multifamily and retail properties throughout the United States. The fund has raised $173.9 million so far and is seeking to raise $300 million in total equity commitments, according to the filing. The fund’s predecessor, Stoltz R