The $86 billion Massachusetts Pension Reserves Investment Management Board (Mass PRIM) in Boston announced the selection of investment advisory firms for its real estate and timberland portfolio and is said to be plotting to grow its internal real estate program by $400 million this year.
The pension system, which currently has roughly $7 billion in real estate and has been active in the space through its PRIT Core Realty Holdings LLC, which represents just over 8% of the overall investment portfolio.
Mass PRIM’s real estate holdings consist of directly owned properties, REITs and investments . . .
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