CalSTRS reported committing a total of $2.3 billion to real estate investment vehicles in the six months ended Dec. 31.
The $311.5 billion California State Teachers' Retirement System, West Sacramento, committed $500 million to IDS Realty JV III, an industrial joint venture with IDS Real Estate Group, and $400 million to 3650 Cal Bridge Lending, a real estate asset-backed security joint venture with 3650 REIT.
CalSTRS also committed $400 million to Workforce Housing REIT, a diversified value-added real estate fund, and $300 million to Safari II REIT, a diversified core real estate fund, both managed by PCCP. And the pension fund committed $300 million each to Waterton Core Venture, a core multifamily joint venture with Waterton, and PrinCal, a diversified retail joint venture with Principal Real Estate Investors.
CalSTRS also committed $204 million to Niam Nordic VIII, an opportunistic real estate fund, and $150 million to Beacon Capital Strategic Partners 9, a value-added office real estate fund managed by Beacon Capital Partners.