APFC commits $100 million to U.S. industrial
The board of trustees of the $47.4 billion Alaska Permanent Fund Corp. (APFC) has approved a $100 million commitment to U.S. industrial real estate during its July 18 meeting. CS Capital will assist in the search for new investments.
APFC has $5.3 billion, or 12 percent of its portfolio, invested in real estate, which is part of the pension fund’s real assets portfolio. Its real assets portfolio also includes infrastructure and Treasury inflation-protected securities . APFC aims to have 19 percent of its portfolio invested in real assets.
APFC's industrial real estate portfolio consists of properties in California, Florida, Minnesota, Texas and Washington state. Some assets include the Counterpoint Center, three single-story, office-oriented industrial/flex buildings situated on an 8.2-acre parcel in Richardson, Texas; Georgetown Center, two mixed-use retail buildings in Seattle; Northern Lights,