Texas Municipal Retirement System to commit up to $325m to real estate funds

Texas Municipal Retirement System (TMRS) has disclosed three investment recommendations as part of a newly approved real estate pacing plan for 2020.

TMRS is planning to commit up to $75 million to Berkeley Partners Value Industrial Fund V, up to $200 million to Virtus Real Estate Enhanced Core fund, and up to $50 million to Abacus Core Income Fund.

Berkeley Partners Value Industrial Fund V is managed by Berkeley Partners, a San Francisco– and Dallas-based value-add real estate investment firm focused on light industrial properties in the United States. According to TMRS, the firm’s flagship strategy is to invest in local infill, multi-tenanted, light industrial urban core properties in growing U.S. markets.

The Virtus Real Estate Enhanced Core fund, managed by Austin-based investment firm Virtus Real Estate Capital, invests in properties that prove resilient in a recession