The Santa Barbara County (Calif.) Employees’ Retirement System (SBCERS) has committed $22.5 million to real estate funds, including vehicles managed by Morningstar Properties, Stonepeak and Sterling Organization.
Blue Doors Storage Fund VI, managed by Morningstar Properties, received $7.5 million for its strategy investing in the acquisition, redevelopment and development of self-storage properties in major metropolitan markets in the United States. The closed-end fund aims to raise $200 million.
Stonepeak Real Estate Partners II is a closed-end, value-added fund which received $7.5 million. This fund invests in opportunities at the intersection of infrastructure and real estate. A fundraising goal has not been disclosed. Stonepeak Real Estate Partners, its predecessor, raised $764 million in 2024.
Sterling United Properties I CF received $7.5 million to invest in core-plus retail assets in the United States. The fund aims to raise $850 million in equity.
