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Wisconsin commits $80m to core JV with Essex

by Reg Clodfelter

The State of Wisconsin Investment Board and Essex Property Trust have each committed $80 million to a joint venture titled Wesco IV, the fourth in a series of joint ventures between the two. The joint venture will invest in core multifamily properties on the West Coast.

“It is a follow-on investment to a prior successful strategy and a good portfolio fit,” says Vicki Hearing, public information officer with SWIB.

All investments will be made in West Coast markets in which Essex already has a significant presence — markets SWIB finds particularly appealing at this time.

SWIB manages $103.7 billion in assets, $87.8 bill

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