To read this full article you need to be subscribed to Newsline.Sign in Sign up for a FREE subscription
PSERS commits $150 million to value-added funds
The $49.7 billion Pennsylvania Public School Employees Retirement System (PSERS) has committed $75 million each to two separate value-added real estate funds, Cabot Industrial Value Fund IV and AREA Value Enhancement Fund VIII, at its March 15 meeting. Both first-time investments to the funds.
PSERS is making a follow-on investment in the Cabot Industrial Value fund series, managed by industrial specialist Cabot Properties. Cabot Industrial Value Fund IV is a $650 million fund investing in U.S. multi-tenant warehouses. Approximately 20 percent of the fund’s capital can be used for development, and up to 10 percent is reserved for acquisitions in Can