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NYSTRS commits up to $117m to real estate

by Zoë Wolff

The $108.2 billion New York State Teachers’ Retirement System has committed up to $117 million to real estate, according to recently released meeting documents. The pension fund approved a $90 million commitment to Kettler Multifamily Development & Repositioning JV III, as well as a follow-on commitment of $27 million to the Kettler Multifamily Development & Repositioning JV II. Both investment vehicles focus on multifamily development projects in high-growth markets, according to the meeting documents. The pension fund previously invested $90 million in Kettler Multifamily Development & Repositioning JV II in 2012.

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