San Joaquin County Employees’ Retirement Association, Stockton, Calif., committed $50 million total to two real estate managers, said a recent draft of real estate committee meeting minutes.
The $2.5 billion pension fund committed $45 million to RREEF America REIT II, a core real estate investment trust managed Deutsche Asset & Wealth Management.
The pension fund also committed an additional $5 million to Principal U.S. Property Account, managed by Principal Global Investors, bringing the total commitment to $25 million.
CEO Annette St. Urbain could not immediately be reached for additional information.
