State of Wisconsin Investment Board (SWIB) has closed on two new real estate commitments worth $210m (β¬171m), according to a board meeting document.
The pension fund confirmed it was going ahead with a $110m co-investment in a US life-science real estate portfolio, which it was considering late last year.
SWIB did not provide any information about the portflolio but said it was investing in a structure called Investments Partnership Fund Vehicle A.
There have been a number of large life-science real estate portfolio transactions recently, including most recently the trade of a $3.45bn portfolio between Blackstone and Brookfield Asset Management.
SWIB told ΒιΆΉΣ³» Real Assets that βlife science properties are faring much better than traditional office buildings from the effects of the pandemicβ.
The pension fund also confirmed a $100m commitment to Heitman Real Estate Debt Partners II, which is seeking to raise $500m, according to sources that track real estate fundraising in the US.
Heitman did not respond to a request for comment.
The fund pursues a value-add strategy, according to SWIB, investing in senior bridge loans, senior construction loans and subordinate credit instruments.
SWIB is also considering $341m of new real estate investments, including a $200m multifamily joint venture, a $100m commitment to an opportunistic industrial closed-ended fund and $41m core office joint venture.
