San Diego City commits $80m to real estate
The $6.7 billion San Diego City Employees’ Retirement System has committed $80 million to three real estate funds.
The first commitment was an allocation of $40 million to the Brookfield Real Estate Finance Fund V, managed by Brookfield Asset Management. The closed-end, value-added fund will invest in debt secured by U.S. properties. The Brookfield fund received an allocation of $100 million from the New York State Teachers’ Retirement System earlier this month.
The second commitment was an allocation of $20 million to CBRE Strategic Partners U.S. Value 8 fund, managed by CBRE Global Investors. The closed-end, value-added fund will focus on investments in major and secondary U.S. markets, focusing on class A office, industrial, retail and mul