Key Takeaways
- • Border to Coast, the UK's largest LGPS pool with £55 billion under management, committed $90 million to Heitman's North American value-add real estate series on behalf of its Global Value-Add Real Estate Fund.
- • The allocation targets non-traditional property types including self-storage, senior housing, and student housing, according to Heitman's announcement.
- • The commitment deepens Heitman's relationship with the UK Local Government Pension Scheme and reflects growing appetite among UK public pensions for alternative real estate.
- • Heitman, which had $48 billion in assets under management as of March 31, 2025, is expanding its European institutional investor base.
Summary
Heitman LLC, a global real estate investment management firm headquartered in Chicago, announced a $90 million allocation from Border to Coast to its North American value-add real estate series. The commitment was made on behalf of Border to Coast's Global Value-Add Real Estate Fund, according to Heitman's Business Wire release.
Border to Coast is the largest Local Government Pension Scheme pool in the UK, owned by 11 partner funds representing 2,900 employers and more than one million members. The pool manages or oversees 85% of the partner funds' combined c.£65.3 billion in investments, totaling £55.4 billion as of March 31, 2025.
Heitman's North American value-add strategy targets a diversified mix of traditional and alternative real estate sectors, with a particular focus on non-traditional property types such as self-storage, senior housing, student housing and other specialty assets where it sees potential for value creation. Mike Trench, Executive Vice President and Co-Head of Heitman's value series, said the support reflects strong alignment with the firm's investment approach as European investors increasingly seek differentiated access to alternative sectors.
Paul Campbell, Portfolio Manager at Border to Coast, said the pool's interest lies in diversifying into segments and markets with strong long-term fundamentals, citing Heitman's experience in alternative property types. He said the commitment reflects confidence in Heitman's ability to execute and drive value across geographies.
The deal also strengthens Heitman's ties to the UK's LGPS system and points to broader interest among UK public pensions in alternative real estate strategies. Heitman makes real estate investments through private equity, debt, and publicly traded securities, and operates 10 offices worldwide, with its European headquarters in London.
Border to Coast is the largest Local Government Pension Scheme pool in the UK, owned by 11 partner funds representing 2,900 employers and more than one million members. The pool manages or oversees 85% of the partner funds' combined c.£65.3 billion in investments, totaling £55.4 billion as of March 31, 2025.
Heitman's North American value-add strategy targets a diversified mix of traditional and alternative real estate sectors, with a particular focus on non-traditional property types such as self-storage, senior housing, student housing and other specialty assets where it sees potential for value creation. Mike Trench, Executive Vice President and Co-Head of Heitman's value series, said the support reflects strong alignment with the firm's investment approach as European investors increasingly seek differentiated access to alternative sectors.
Paul Campbell, Portfolio Manager at Border to Coast, said the pool's interest lies in diversifying into segments and markets with strong long-term fundamentals, citing Heitman's experience in alternative property types. He said the commitment reflects confidence in Heitman's ability to execute and drive value across geographies.
The deal also strengthens Heitman's ties to the UK's LGPS system and points to broader interest among UK public pensions in alternative real estate strategies. Heitman makes real estate investments through private equity, debt, and publicly traded securities, and operates 10 offices worldwide, with its European headquarters in London.
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