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Florida Real Estate Market

Florida SBA Deploys Over $1.3 Billion in US Real Estate Investments

Florida SBA invests over $1.3 billion in US real estate.

The Florida State Board of Administration (SBA) has significantly bolstered its U.S. real estate portfolio, committing over $1.3 billion in new investments and acquisitions across various sectors in the latter half of 2025. These strategic moves, executed through partnerships with major financial institutions, span industrial, residential, healthcare, and specialized real estate assets, signaling a robust confidence in the American property market.

Key Takeaways

  • Florida SBA invested a total of $963.6 million in Q4 2025 and an additional $365.4 million in recent months, totaling over $1.3 billion.
  • Investments were diversified across industrial, residential (apartments, manufactured housing, student housing, single-family rentals), healthcare (medical office buildings), and secondaries.
  • Key partners in these transactions included Invesco, Heitman, and MetLife.

Q4 2025 Real Estate Commitments

During the final quarter of 2025, the Florida SBA expanded its real estate holdings with $963.6 million in new commitments and investments. Notable transactions include:

  • Lehigh 309 Logistics: A $331.8 million investment for the acquisition of land and site improvements for a 1.3 million sq ft industrial development in Upper Saucon Township, Pennsylvania, in partnership with MetLife and Panattoni. Completion is expected in 2027.
  • GID Mainstay Fund: A $200 million commitment to this open-ended core-plus apartment fund managed by GID.
  • Manufactured Housing Portfolio: An acquisition of eight manufactured housing properties across California, Ohio, Washington, and Georgia for $174 million, with Invesco representing the SBA.
  • Inverness Apartments: A $120.6 million investment via an Invesco separate account for the development of a 325-unit apartment project in Englewood, Colorado, slated for completion in 2027.
  • Landmark Real Estate Partners Sunshine Co-Investment Fund: A $100 million co-investment focused on real estate secondaries.
  • Medical Office Portfolio: A $37.2 million acquisition of medical office buildings in Katy, Texas, and Orem, Utah, managed by Heitman.

Recent Real Estate Investments

In preceding months, the Florida SBA also completed $365.4 million in U.S. real estate investments through separate accounts with Invesco Real Estate, Heitman, and MetLife. These include:

  • Ashton at Dulles Corner: A $150.7 million equity investment to acquire an apartment complex in Herndon, Virginia, through an Invesco Real Estate account.
  • The Indy: A $63.7 million acquisition of a student housing project in Marietta, Georgia, with Heitman.
  • Harmon I Ashton Oaks: A $43.9 million investment for a single-family rental project in the Tampa metropolitan area, Florida, with Heitman.
  • Oxnard Logistics Center: A $35.3 million investment through MetLife for a logistics project in Oxnard, California.
  • Ortho Rhode Island: A $36.3 million acquisition of a medical office asset in Warwick, Rhode Island, via a Heitman separate account.
  • Bellport Property: A $31 million acquisition of a self-storage property in Bellport, New York, also with Heitman.
  • A small retail investment of $4.6 million.

These diverse investments underscore the Florida SBA’s strategic approach to diversifying its real estate holdings and capitalizing on opportunities across the U.S. market.

Sources

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