NMERB commits $50 million to real estate fund
The $8.5 billion New Mexico Educational Retirement Board (NMERB) has committed $50 million to Crow Holdings Realty Partners VI, a core-plus/value-added real estate fund managed by Crow Holdings Capital Partners.
The commingled fund has raised approximately $604 million; it aims to raise $750 million by second quarter 2013. The vehicle will follow the same strategy as the firm’s previous five funds in the series. Like its predecessors, Fund VI will invest in a portfolio of U.S. real estate, including industrial assets, grocery-anchored and neighborhood retail properties, multifamily housing, office buildings, hotels, and land. The vehicle will include income-oriented investments with modest fore