Ventura County Employees Retirement Association also made a $75m allocation to multi-sector focused debt strategy VWH Master Fund IV during the period.
The $12.9bn pension fund allocated the capital to the New York-based manager's BIG Real Estate Fund III.
Caisse de dépôt et placement du Québec's head of real estate sees balancing the needs of the pension's stakeholders and partners as key to finding the right formula for its C$77bn real estate portfolio.
The New York-based REIT receives capital commitment from an undisclosed Canadian institutional investor.
CPP Investments was second, with $1.24bn allocated.
The $11bn institution has invested in Sabal Debt Opportunities Fund III.
The $11bn pension fund will be launching searches for managers imminently.
The system has rebalanced its portfolio, increasing its private real estate debt target and decreasing that of its core real estate by 2% each way.
The pension fund made 10 commitments totaling $1.28bn to the sector from 2017 through the third quarter 2022
The company expects to see strong rent growth over the next two years.