The $23.1 billion New Mexico State Investment Council has approved to redeem its $100 million commitment to Berkshire Multifamily Income Realty Fund, according to Charles Wollmann, director, communications, legislative and client relations, and board meeting documents.
Based on the recommendations of its Council Investment Committee, real estate adviser Townsend Group, SIC staff, and the general fiduciary oversight of RVK voted that New Mexico State approve full redemption from the Berkshire Multifamily Income Realty Fund after it was reviewed and discussed in the council.
New Mexico State made a $75 million commitment to BMF in September 2015 and as of Sept. 30, 2018, New Mexico State’s NAV in BMF was $98.9 million and represented 4.8 percent of the SIC’s total real estate portfolio. Paul Chapman, director for the pension fund, outlined the reasons for recommending a full redemption fr
