The $29.6 billion Texas County & District Retirement System, Austin, made its first real estate commitment of 2018, earmarking $100 million to FPA Core Plus IV, a transaction report showed.
The commitment is the first to an FPA Multifamily fund. The fund will seek to acquire high-quality apartment properties in U.S. cities that will benefit from renovation or upgrades.
In 2017, fund officials committed a total of $384 million to five real estate strategies.
