Alecta Pensionsforsakring, Stockholm, committed $300 million to a U.S. real estate investment trust run by BioMed Realty, a spokesman confirmed.
The REIT is a Blackstone portfolio company.
It marks the first commitment to the REIT by the Swedish investor, which has $110 billion in assets, the spokesman confirmed.
“We (are) following a strategy where we increase our exposure towards sectors less sensitive to the general development of the economy and more driven by fundamental changes in society. The aging population in the U.S. is a factor and theme that we believe will create increased demand for certain types of real estate for many years ahead,” Frans Heijbel, head of international real assets at Alecta, said in a news release issued Wednesday.
The occupational retirement plan provider invests 12% of its total assets in real estate.
Also Wednesday, Alecta reported two previous investments. In June, $250 million co-invested in KACORE JV, managed by Kayne Anderson Capital Advisors and Remedy Medical Properties, which invests in medical office/senior housing real estate. Alecta committed $230 million to another medical office co-investment run by Kayne Anderson, Remedy Medical Properties and Physicians Realty Trust at the end of 2019.