Publications

NOVEMBER 26, 2013

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

Ohio Police and Fire commits $50m to real estate

by Reg Clodfelter

The Ohio Police and Fire Pension Fund approved a $50 million commitment to Exeter Industrial Value Fund III at its Nov. 19 board meeting. Dave Graham, communications manager at OP&F, has confirmed the commitment. This is a follow-on investment to the series. OP&F committed $35 million to Exeter Industrial Value Fund II in April 2011.

The commingled fund, which launched this month and is managed by Exeter Property Group, is a value-added fund that will acquire and/or develop large and multi-tenant logistics facilities throughout the United States. The fund will primarily invest in major distribution centers. It has a target unlevered return of 10 percent and a target levered return after fees of 13 percent to 14 percent. The fund has target leverage of 65 percent.

This investment will fit within OP&F’s tactical real estate portfolio and i

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?