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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