San Diego City Allocates $25M to Value-Added Real Estate

September 20, 2022

Written By:
Koncheng Moua, Research Data Analyst

The San Diego City Employees’ Retirement System (SDCERS) has disclosed a $25 million commitment to a value-add real estate fund, according to meeting materials from the September 8 board meeting.

$25 million was committed to value-add real estate fund, Sares Regis Multifamily Value-Add Fund IV. Fund IV will invest in undervalued, Class-B multifamily assets in the western and southwestern regions of the United States.

The $10 billion Retirement System’s real estate consultant, Meketa, assisted with due diligence. 

As of June 30, 2022, SDCERS has an actual and target allocation to real estate of 11.7% and 11% respectively.

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Tags: Public Pensions

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