South Korea’s Public Officials Benefit Association (POBA) pension fund and the California State Teachers’ Retirement System (CalSTRS) have jointly invested $40 million in multifamily assets in San Jose, Calif., according to several news reports.
The investment was made through a $600 million U.S. commercial real estate joint venture, which was formed in April.
This marks the partners’ fourth co-investment fund since 2018, according to Mingtiandi.
