Santa Barbara County Commits $30M Across Three Real Estate Funds
The Santa Barbara County Employees’ Retirement System (SBCERS), which manages $4.1 billion in assets, has committed $30 million across three real estate funds: $10 million each to US Industrial Club VI, HIG Europe Realty Partners III and High Street Value Fund I.
US Industrial Club VI, managed by Hillwood Investment Properties, has a $1.2 billion fundraising goal for industrial projects in North America.
HIG Europe Realty Partners III, managed by HIG Europe, is a value-add real estate fund largely focused on Western and Northern European markets. The fund seeks investments in well-located, undermanaged, capital-constrained real estate and credit opportunities in a variety of sectors, including healthcare and life sciences, hospitality, mixed-use, industrial, office, and residential.
High Street Value Fund I is the inaugural offering in High Street Logistics Properties’ fund series, with a $400 million fundraising target. The fund will make investments in industrial warehouse and distribution facilities in the United States, mainly in and near large urban areas.