Wisconsin Investment Board Boosts Real Estate Program with Over $300M Commitment
The State of Wisconsin Investment Board (SWIB) committed more than $300 million to real estate investments, spanning loans, logistics properties, and data centers, in the fourth quarter of 2024, as detailed in meeting documents.
The most substantial allocation, totaling $150 million, went to Bridge Logistics Value Fund II, a value-add fund managed by Bridge Investment Group. This firm is currently being acquired by Apollo for $1.5 billion. The fund targets global gateway logistics assets across the U.S.
SWIB also awarded a $100 million mandate to Berkshire Bridge Loan Investors-MF1 III, a fund managed by Berkshire Residential Investments. This fund, which closed in January with $1.99 billion in assets, supports the lending activities of the MF1 private lending platform—a joint venture between Berkshire and Limekiln Real Estate. MF1 stands out as a top provider of multifamily financing in the U.S.
The $160 billion-managing SWIB allocated $50 million to 1547 Data Center Fund III. Managed by 1547 Critical Systems Realty, this fund supports a firm that develops, operates, and owns custom-designed, highly interconnected data centers. The company oversees more than 1.1 million square feet of data center space across North America and Europe.
A $28 million allocation was made to WESCO V, a fund overseen by Essex Property Trust. The investment strategy centers on multifamily assets.
The fourth quarter commitments built on five fund investments made in the prior quarter, which targeted debt, logistics, and multifamily properties.
