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Investors - AUGUST 6, 2014

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NYSTRS commits $350m to real estate during Q2

by Reg Clodfelter

The $107.6 billion New York State Teachers’ Retirement System committed $350 million, divided between four commitments, to real estate during the second quarter.

The retirement system committed $100 million to Brookfield Real Estate Finance Fund IV, a value added debt fund managed by Brookfield that launched in March 2014. The fund is seeking $850 million to invest in real estate debt in a risk position senior to traditional equity and subordinate to traditional first mortgages. The fund will focus on high-quality properties in the United States and will target the 60 percent to 80 percent LTV tranche.

According to John Cardillo, a spokesperson for NYSTRS, the retirement system liked Brookfield’s experienced team with extensive relationships in the banking industry to source deals as well as the organization’s strong track record

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