The West Virginia Investment Management Board (IMB) committed more than $80 million to two real estate funds in the first few months of the year.
West Virginia IMB allotted $50 million for the Westbrook Real Estate Fund XI, a value-added fund managed by Westbrook Partners.
The value-add Westbrook Real Estate Fund XI is looking to invest in value-add office, debt, distressed properties, hotel, industrial, multifamily, retail and single-family assets in France, Germany, Japan and the United Kingdom. As of March, the fund had secured $2.5 billion in equity commitments.
Westbrook’s investor base comprises institutional investors, including endowments, foundations, financial institutions, and public and private pension funds.
West Virginia IMB also voted to commit up to €30 million ($33 million) for the Harrison Street European Property Partners III, managed by Harrison Street Real Estate Capital.
Launched in December 2019, Harrison European Propert
