The $102 billion State of Wisconsin Investment Board has committed a total of $377 million to four real estate funds, according to Vicki Hearing, communications manager.
SWIB committed $150 million to WESCO V, a joint venture with Essex Property Trust to invest in apartment properties on the West Coast of the United States. It also invested $100 million in FPA Core Plus Fund III, a value-added fund managed by FPA Multifamily that invests in the United States.
The pension fund invested in two industrial funds, including $100 million to Realterm Logistics Income Fund, a core-plus fund managed by Realterm that invests in U.S. industrial properties, and $27 million to Penwood / SWIB JV, a joint venture with Penwood Real Estate Investment Management that will invest in industrial assets in Southern California, New York and New Jersey.
SWIB has a target allocation to real estate of 8 percent.
