The New Mexico State Investment Council (SIC) unanimously approved two real estate commitments at its Oct. 27 board meeting.
New Mexico SIC is planning to invest $100 million in Exeter Europe Logistics Value Fund IV, a value-add fund managed by Exeter Property Group, and $75 million in AEW Partners Real Estate Fund IX, an opportunistic fund managed by AEW Capital Management.
Exeter Europe Logistics Value Fund IV is seeking to raise €1.25 billion ($1.5 billion) to primarily invest in Western European logistics and industrial assets that are under-leased, under-managed properties, in order to generate their target return, Seth Marcus, a partner at the Townsend Group, said in a recording of the Oct. 27 board meeting.
SIC has previously made three commitments to Exeter’s U.S. industrial funds, totaling some $177 million in capital, in addition to a €75 million ($88 million) commitment to Exeter Europe Logistics Value Fund III in 2017. This marks SIC’s fifth
