Oregon Public Employees Retirement Fund (PERF) intends to invest between $500m and $1bn (鈧�458.9m and 鈧�917.9m) in real estate in the current year, the Oregon Investment Council (OIC) disclosed in a board meeting document.
As part of the pacing plan for 2024, Oregon PERF expects to make up seven commitments each ranging from $100m to $250m.
Oregon PERF鈥檚 targetted investment for 2024 might not be fully met.
In 2023, the pension fund鈥檚 real estate pacing during the period was set at between $700m and $1.1bn, but the board meeting documents showed they only committed $550m, which includes an investment finalised in January 2024 via an existing separate account with Regency Centers.
Regency Centers, a US shopping centre real estate investment trust, told 麻豆映画 Real Assets: 鈥淲e appreciate our long standing and successful partnership with the Oregon Public Employees Retirement Fund and we look forward to continuing the relationship in the future.鈥�
Oregon PERF is the main investor in the separate account relationship known as Columbia Regency Retail Partners with it having an 80% ownership stake alongside Regency Centers.
The separate account, which acquires core shopping centres throughout the US, targets assets like grocery-anchored shopping centres and necessity-oriented retail.
The relationship, which started in 2000 had a $550.4m portfolio as of the end of September 2023, producing an internal rate of return of 10.98%.
The OIC declined a request for further comment.
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