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Investors - OCTOBER 1, 2014

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NMERB commits to PREI and Crow Holdings

by Reg Clodfelter

The $11.2 billion New Mexico Educational Retirement Board has committed $35 million each to Crow Holdings Fund VII, managed by Crow Holdings Capital Partners, and Prudential Senior Housing Partners V, managed by Prudential Real Estate Investors, according to an email from Bob Jacksha, chief investment officer with NMERB.

Prudential’s SHP V, launched earlier this year, is a value-add vehicle that targets senior housing properties across the United States. Its predecessor, which received a $50 million commitment from NMERB in 2011 according to IREI’s FundTracker Database, closed in April 2012 after raising $568 million to employ a similar strategy.

CHF VII, the seventh fund in Crow Holdings’ core-plus/value-add series, targets investments in multifamily, retail, industrial, and convenience store and gas station properties, though it may also target office, hotel, and

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