San Diego City Employees' Retirement System committed $55 million to MetLife Core Property Fund, an open-end core real estate fund, said Elizabeth Crisafi, chief investment officer.
It is the $8.4 billion pension fund's second and final scheduled real estate commitment for fiscal year 2019. The fiscal-year 2019 annual real estate investment plan called for a total of $85 million in real estate commitments. In November, the board approved a $30 million commitment to Clarion Lion Industrial Trust. As of Sept. 30, the actual allocation to real estate was 8.6%.
Real estate consultant Townsend Group assisted.
