PSERS makes follow-on investment to Bell multifamily series
The $49.3 billion Pennsylvania Public School Employees’ Retirement System has made a follow-on commitment to Bell Partners’ multifamily fund series. Courtland Partners is the pension fund’s real estate consultant.
PSERS approved a $75 million to the firm’s fifth commingled fund, Bell Institutional Fund V, which will invest in value-added multifamily assets in secondary cities on the East Coast and in the South, particularly in the following 14 markets: Atlanta; Austin; Boston; Charlotte, N.C.; Dallas; Durham, N.C.; Fort Lauderdale, Fla.; Houston; Miami; Nashville; Northern/Central New Jersey; Orlando; Philadelphia; Raleigh, N.C.; Tampa, Fla.; and Washington, D.C. Fund V launched in 2013 with a $300 million fundraising goal.
Bell is currently investing Fund V&rsq