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MARCH 31, 2015

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Ohio pension fund commits $50m to real estate fund

by Zoe Loza

The Ohio Police & Fire Pension Fund has committed $50 million to Gerrity Retail Fund II, a value-added real estate fund sponsored by Gerrity Group. This is the pension fund’s first commitment to a Gerrity fund.

Gerrity Retail Fund II focuses on primary-market community shopping centers in the western United States — mainly California. Gerrity is seeking $300 million of equity for the fund. Solana Beach, Calif.–based Gerrity plans to contribute up to $5 million to the fund.

Ohio Police & Fire has 9.6 percent of its $14.7 billion portfolio invested in real estate. The pension fund has a target allocation to the asset class of 12 percent

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