Publications

Investors - OCTOBER 3, 2018

Recent commercial real estate commitment round-up

by Loretta Clodfelter

IREI’s FundTracker database captured 27 real estate commitments in the past month. The largest was a $1.0 billion equity commitment by the California Public Employees’ Retirement System to its Fifth Street Properties separate account with CommonWealth Partners. CalPERS also allocated $800 million to Institutional Multifamily Partners, a separate account with GID.

Recent commitments — Global

Investor Sponsor Vehicle Strategy Structure Commitment ($m)
California Public Employees' Retirement System CommonWealth Partners Fifth Street Properties Core Separate account $1,000
California Public Employees' Retirement System GID Institutional Multifamily Partners Core Separate account $800
Connecticut Retirement Plans and Trust Funds Covenant Capital Group Covenant Apartment Fund IX Value-added Closed-end $50
Contra Costa County (Calif.) Employees' Retirement Association DLJ Real Estate Capital Partners DLJ Real Estate Capital Partners VI Opportunistic Closed-end $50
Illinois Municipal Retirement Fund CBRE Global Investors CBRE Pan-European Core Fund Core Open-end $58
Illinois Municipal Retirement Fund Heitman Heitman America Real Estate Trust Core Open-end $150
Kentucky Retirement Systems Barings Barings European Value-Add Fund I Value-added Closed-end $175
Massachusetts Mutual Life Insurance Co. Barings Barings European Value-Add Fund I Value-added Closed-end $175
Nebraska Investment Council Clarion Partners Clarion Lion Properties Fund Core Open-end $211
New Jersey Division of Investment Aermont Capital Aermont Capital Real Estate Fund IV Opportunistic Closed-end $125
New Mexico State Investment Council Aermont Capital Aermont Capital Real Estate Fund IV Opportunistic Closed-end $88
New Mexico State Investment Council Asana Partners Asana Partners Fund II Value-added Closed-end $75
Oklahoma Teachers Retirement System Artemis Real Estate Partners Artemis Real Estate Partners Fund III Value-added, opportunistic Closed-end $50
Oklahoma Teachers Retirement System FCP FCP Realty Fund IV Closed-end $35
Oklahoma Teachers Retirement System Harbert Management Corp. Harbert European Real Estate Fund V Value-added, opportunistic Closed-end $50
Oregon Public Employees Retirement Fund Harrison Street Real Estate Capital Harrison Street Core Property Fund Core Open-end $150
San Francisco Employees' Retirement System Pamfleet Group Pamfleet Real Estate Fund III Value-added Closed-end $25
South Carolina Public Employee Benefit Authority Blackstone Blackstone Property Partners Core-plus Open-end $322
South Carolina Public Employee Benefit Authority Heitman Heitman Core Real Estate Debt Income Trust Core, core-plus Open-end $189
South Carolina Public Employee Benefit Authority Morgan Stanley Prime Property Fund Core Open-end $533
Texas Employees Retirement System Realterm IndoSpace Logistics Parks III Opportunistic Closed-end $75
Texas Permanent School Fund Madison Realty Capital Madison Realty Capital Debt Fund IV Value-added Closed-end $100
Texas Permanent School Fund PAG Asia PAG Enhanced Credit Fund II Closed-end $100
Texas Permanent School Fund TPG Capital TPG Real Estate Partners III Value-added, opportunistic Closed-end $75
Texas Permanent School Fund Tristan Capital Partners European Property Investors Special Opportunities 5 Value-added, opportunistic Closed-end $88
Versorgungswerk der Zahnarztekammer Nordrhein (Germany) OMEGA Immobilien Group Omega Kita-Welten Rheinland Separate account $58
Washington State Investment Board International Farming Corp. IFC Core Farmland Fund Core Open-end $250
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