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NMSIC invests in three new real estate funds

by Sara Kassabian

The $16.5 billion New Mexico State Investment Council (NMSIC) approved commitments of $175 million to three real estate funds during its April 23, 2013, meeting.

Charles Wollmann, director of communications at NMSIC, says the commitments are part of an ongoing effort to diversify the endowment fund’s real estate portfolio, which previously had an underallocation to core investments and overexposure to opportunistic strategies. NMSIC’s 2013 real estate plan is to invest in open-end core opportunities and nontraditional property types.

NMSIC approved a $50 million investment in Harrison Street Real Estate Partners IV managed by Harrison Street Real Estate Capital. The opportunistic fund is part of a fund series that invests in medical office, student housing, self-storage and senior housing/assisted living properties.

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