Texas TRS commits $200m to CBRE’s value-add real estate fund
The Teacher Retirement System of Texas (TRS) has committed $200 million to the CBRE Strategic Partners U.S. Value 9 fund, managed by CBRE Global Investors.
According to a recently released investment report, the commitment closed in September.
Launched in March, the value-add limited partnership vehicle is targeting CBD office, industrial, logistics, multifamily and retail assets across the United States.
Other investors include The Employees’ Retirement System of the State of Hawaii, which committed $50 million to the fund, and the Montana Board of Investments, which invested $30 million.
The fund is targeting a final close in December 2020.