New York State Common Retirement Fund (NYSCRF) has invested $62.7m (€60.2m) to buy the Menlo Park office building in California from .
Â鶹ӳ» Real Assets understands that the US public pension fund acquired the 43,082sqft building located at 200 Middlefield Road in Menlo Park through EPNY Ventures, a $200m separate account relationship NYSCRF created in 2019 with San Francisco-based Ellis Partners.
Nuveen paid $50.25m when it acquired the Menlo Park office building in 2014. The asset, previously known as the Mills Building, was first developed in 1967.
EPNY Ventures, which targets returns of 8% to 10% gross internal rate of returns, acquires core assets in the greater San Francisco Bay Area.
Last September, the venture acquired 153 Townsend Street, a 179,000sqft office in downtown San Francisco, for $231m.
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