The $911 million Public School Retirement System of the City of St. Louis (PSRSSTL) in Missouri has approved a $5 million commitment to ElmTree U.S. Net Lease Fund IV at its Feb. 22 meeting.
As of February, PSRSSTL had a 5.7 percent allocation to real estate, against a 7 percent target. The portfolio was valued at roughly $52 million.
ElmTree U.S. Net Lease Fund IV, managed by ElmTree Funds, opened to investors in June 2020 with a $500 million fundraising target. The value-add real estate fund will invest in the net-lease, sale-leaseback and build-to-suit sectors throughout the United States.
In a March interview with IREI, James Koman, CEO and founder of ElmTree, discussed the firm’s insights for the industrial sector for 2021, after deploying
