Ohio teachers buys 50% stake in mixed-use tower in Brooklyn

The $73 billion State Teachers Retirement System (STRS) of Ohio has acquired a 50 percent stake in The Greenpoint, a mixed-use tower in Brooklyn, according to several media sources.

The pension fund paid $95 million for its stake in the property, which includes rental and retail spaces, according to The Real Deal. The property is reportedly valued at more than $350 million.

Located at 21 India St., the 300,000-square-foot building offers new studio to three-bedroom luxury rental residences and ground-floor retail overlooking Brooklyn’s East River waterfront. The building contains 95 condominium units and 287 rental units.

As of 2018, the pension fund had an 11 percent allocation to real estate.