New Jersey Division of Investment has added $300m (鈧�274.8m) to an existing US apartments separate account with TGM, according to the pension fund鈥檚 meeting document.
New Jersey Division invested $300m in 2015 when the relationship was first created. In 2021, the pension fund approved another $300m to the separate account that invests in US value-add apartments.
John Gochberg, chief executive officer of TGM, told 91传媒在线 that: 鈥淭GM is very proud that New Jersey has again reaffirmed its commitment to TGM and we are excited to build another portfolio of multifamily assets with them.鈥�
New Jersey Division holds a 99% ownership stake in the relationship it refers to as TGM Apartment Partners II, with TGM holding the remaining 1%.
TGM鈥檚 assets include complexes in Connecticut, Massachusetts, Indiana, Florida, Maryland, Illinois, Ohio and Virginia, according to the manager鈥檚 website.
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