Investors - FEBRUARY 21, 2014

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SFERS invests in Harrison Street fund

by Andrea Waitrovich

The San Francisco Employees’ Retirement System has committed $50 million to Harrison Street Real Estate Partners IV Co-Investment, according to board documents from the retirement system’s Feb. 12 meeting.

The opportunistic sidecar vehicle has a $150 million fundraising goal, with hard cap of $175 million. Harrison Street Real Estate Capital will make a co-investment of at least $2 million in the fund, which will place co-investments in development transactions with Harrison Street Real Estate Partners IV on a pari passu basis.

The developments will be needs-based real estate, including student housing, senior housing, medical office buildings and self-storage warehouses located in the United States.

The investment is SFERS’ third with Harrison Street. The pension fund has invested in Harrison Street Real Estate Partners III

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