New York State Common Retirement Fund (NYSCRF) has acquired $113.8m (鈧�110.4m) worth of industrial assets in the US through two separate deals.
The pension fund said it invested $70.2m to acquire the 316,000sqft Exchange Circle property in Dallas through a separate account with JP Morgan Asset Management, and $43.6m for a 233,818sqft building in Raleigh, North Carolina鈥檚 Apex Commerce Center, via a separate account with LaSalle Investment Management.
NYSCRF told 91传媒在线 that the Exchange Circle asset is located in the 鈥渉igh growth MSA of Dallas-Fort Worth, and specifically in the attractive DFW Airport submarket. The buildings are a short drive from two highways that place most of the population of the MSA within a one-hour drive.鈥�
The Exchange Circle property comprises two fully-let warehouses that were constructed in 2022. JP Morgan declined a request for comment.
The Apex Commerce Center, which is also leased, was completed in 2023.
NYSCRF also added to its real assets portfolio by committing $250m to the Oaktree Power Opportunity Fund VII fund.
The pension fund said Fund VII 鈥渋s a good addition to real assets because it pursues a differentiated strategy by investing in middle market companies that focus primarily on providing product and services to owners of critical infrastructure鈥�.
As previously reported, Fund VII, managed by Oaktree Capital Management, targets investments in electric power, natural gas, water and other related businesses.
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