The Wisconsin Investment Board (SWIB) has made investments valued at $275 million (€253.4 million) in real estate debt strategies managed by Heitman and DWS.
SWIB pledged $100 million to Heitman Real Estate Debt Partners III Fund and Wilson DWS as part of $488 million worth of commitments made by the pension fund during the period, SWIB said in meeting documents. The company announced that it has invested $175 million into a special senior finance account. Last quarter of 2024.
Heitman, which is seeking to raise $1 billion for Partners III, has raised $652 million as of January 2024, according to SEC filings.
The Heitman Funds are expected to invest capital using a variety of debt structures, including subordinated debt, senior bridge loans and senior construction loans.
Partners III's investment strategy targets a variety of property types in both primary and secondary markets throughout the United States, including multifamily housing, single-family rentals, and self-storage facilities. Trading takes place in both primary and secondary markets.
Another relationship with Wilson DWS Senior Finance invests in non-core type transactions.
Other investments the $156 billion pension fund made in the final quarter of 2023 include a $100 million commitment to SRE Wilson Industrial Holdings for non-core strategies; This includes a $68 million investment in Exeter Core Industrial Club Fund II. and Core Plus industrial assets, and a $45 million investment in FPA Core Plus Fund III-A targeting multifamily real estate opportunities.
Click here to read the latest IPE Real Assets magazine.
