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Oregon commits $300m to value-added real estate
The $67.9 billion Oregon Public Employees Retirement Fund has committed $100 million each to three value-added funds: DivcoWest Fund IV, Waterton Residential Property Venture XII and Talmage Total Return Partners.
“We’ve always had a tilt toward value-added investing,” says Anthony Breault, senior real estate investment officer with Oregon State Treasurer's office, who invests on behalf of OPERF. “Divco is a unique play within high-growth markets, and the other two are existing partners that have worked well.”
DivcoWest Fund IV, managed by DivcoWest, closed in April after raising $976 million in just over six months. The fund will invest heavily in high-growth markets, such as the San Francisco Bay Area, and seeks to capitalize on the rapi