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Investors - NOVEMBER 6, 2019

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TMRS backs U.S. value-add funds

by Kali Persall

The Texas Municipal Retirement System (TMRS) has approved up to $200 million in capital commitments to two U.S. value-add real estate funds, according to a recently released board meeting document.

TMRS has plans to commit $100 million each to the Madison Realty Capital Debt Fund V, managed by Madison Realty Capital, and the Abacus Multi-Family Partners V, managed by Abacus Capital Group.

Launched in early October, Madison Realty’s fifth fund will look to invest in debt properties across the country. The previous fund in the series, Madison Realty Capital Debt Fund IV, closed with $1.136 billion in April, exceeding its $1 billion target.

The commitment to the Abacus Multi-Family Partners V will help back investments in multifamily properties with specific characteristics, such as relative affordability in markets and submarkets showing favorable multifamily trends. The fund was also launched in early October. Its predecessor fund closed above target, with $512

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