Searches and Hires

Davie Police Officers commits $8 million to real estate

Davie (Fla.) Police Officers' Pension Plan made three new real estate commitments totaling $8 million, said Steven Roth, chief investment officer at Dahab Associates, the $165 million pension fund's investment consultant.

The pension fund issued an RFP in January for value-added managers and real estate debt managers to further diversify its exposure to real estate. The pension fund committed $4 million to Trumbull Property Growth and Income Fund, a value-added real estate fund managed by UBS Realty Investors, and $2 million each to Bloomfield Capital Income Fund V and Sound Mark Horizons Fund, managed by Sound Mark Partners; both are real estate debt funds.

The other value-added finalist was American Realty Advisors, and the other debt finalist was Principal Real Estate Investors.

As of Dec. 31, the actual allocation to real estate was 12.5%.

Dahab Associates assisted with the search.