---
title: Miami Beach Fire & Police Pension Commits $18M to Non-Core Real Estate
description: Miami Beach Fire & Police Pension Commits $18M to Non-Core Real Estate.
---

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# [Miami Beach Fire & Police Pension Commits $18M to Non-Core Real Estate](https://dakotafunds.com/dakota-funds/fundraising-news/miami-beach-fire-police-pension-commits-18m-to-non-core-real-estate)

 Written by [Koncheng Moua, Director of Data Management and Strategy](https://dakotafunds.com/dakota-funds/author/koncheng-moua-director-of-data-management-and-strategy) | September 16, 2022

The Miami Beach Fire & Police Pension Fund has committed $18 million across three non-core real estate funds, according to meeting minutes from the July 21 board meeting.

$5 million was committed to Affiliated Housing Impact Fund, a value-add real estate fund managed by Affiliated Development. $8 million was committed to value-add real estate fund, Artemis Real Estate Partners IV. $5 million was committed to value-add real estate fund, TerraCap Partners V. 

At the previous board meeting in June, the Board requested their consultant, AndCo, to bring forth non-core real estate managers for consideration. This would be the $1 billion Pension Fund’s first exposure to non-core real estate.

As of June 30, 2022, the Pension has an actual and target allocation to real estate of 19.6% and 15% respectively.

*For more public pension insights and a comprehensive library of public plan minutes, we would love to offer you a free trial of [Dakota Marketplace](https://www.dakota.com/dakota-marketplace)!*

* *

[View full post](https://dakotafunds.com/dakota-funds/fundraising-news/miami-beach-fire-police-pension-commits-18m-to-non-core-real-estate)

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