Ohio BWC commits $125m to core-plus, open-end real estate funds

Ohio Bureau of Workers Compensation Board has committed a total of $125 million to four core-plus real estate funds, according to board meeting documents. The pension fund committed $50 million to PGIM Real Estate’s PRISA II, and $25 million each to Prologis Targeted U.S. Logistics Fund, Invesco U.S. Income Fund and Lion Industrial Trust fund.

PRISA II is an open-end fund that invests in completed investment-grade properties targeting apartment, retail, office and hotel properties.

Prologis Targeted U.S. Logistics Fund, managed by Prologis, is an open-end fund that will acquire industrial properties near airports, seaports and highway systems in major U.S. metropolitan areas.

Invesco U.S. Income Fund, managed by Invesco Real Estate, is an open-end fund that invests in U.S. office, industrial, multifamily and retail properties.

Lion Industrial Trust, managed by Clarion Partners, invests exclusively in industrial properties in North America.

On May 24, the Ohio BWC approved an increase in the allocation to its core-plus real estate portfolio from 3 percent to 4 percent, according to the document.