NYSTRS puts $600m in real estate debt accounts
The New York State Teachers’ Retirement System (NYSTRS) has closed on $600 million of commitments to two separate accounts targeting bridge and mezzanine loans, including Freddie Mac subordinate multifamily positions.
A recent meeting document disclosed that the separate accounts belonged to Artemis Real Estate Partners and Federal Capital Partners. Each received $300 million.
The system also funded $100 million to BlackRock’s CMBS strategy.
NYSTRS’ real estate debt portfolio is valued at $7.6 billion, according to the meeting document.