In a week marked by bold moves and hefty price tags, two major players in the U.S. real estate sector have announced landmark acquisitions and investments that signal both confidence in the market and a strategic push to diversify portfolios across the country. The Florida State Board of Administration (SBA) and Fairfield-based Accordia each revealed significant transactions, underscoring the ongoing appetite for prime real estate assets and the belief in long-term value creation through targeted expansion.
According to documents disclosed at a recent board meeting and reported by IPE Real Assets, the Florida SBA completed $365.4 million in U.S. real estate investments through separate accounts with Invesco Real Estate, Heitman, and MetLife. These deals, finalized on September 16, 2025, span a range of asset types and geographies, from high-end apartments in Virginia to logistics centers in California, and even a self-storage facility in New York.
The largest of Florida SBA’s recent investments was a $150.7 million equity stake in the Ashton at Dulles Corner apartment complex in Herndon, Virginia, acquired via an account managed by Invesco Real Estate. The property, situated in a rapidly growing suburban market just outside Washington, D.C., is seen as a stable bet amid shifting housing preferences and ongoing demand for well-located rental units.
Further south, the pension fund snapped up The Indy, a student housing project in Marietta, Georgia, for $63.7 million in a transaction with manager Heitman. With universities and colleges continuing to attract students from across the country, well-positioned student housing assets like The Indy have become increasingly attractive to institutional investors seeking steady income streams and potential appreciation.
Florida SBA’s investment strategy has also homed in on the booming single-family rental market. The fund committed $43.9 million to the development of Harmon I Ashton Oaks, a single-family rental project in Wesley Chapel, Florida, part of the Tampa metropolitan area. This move, again in partnership with Heitman, reflects a broader industry trend: investors are betting big on single-family rentals as rising home prices and mortgage rates keep would-be buyers in the rental market.
On the West Coast, the pension fund diversified further by investing $35.3 million through MetLife in the Oxnard Logistics Center project in Oxnard, California. As e-commerce continues to reshape the logistics landscape, industrial assets like this have become hot commodities, prized for their ability to serve as critical nodes in the nation’s supply chain.
Healthcare real estate was also on Florida SBA’s shopping list. The fund acquired the Ortho Rhode Island medical office asset in Warwick, Rhode Island, for $36.3 million through a Heitman separate account. Medical office buildings have shown resilience in recent years, buoyed by demographic trends and the ongoing need for outpatient care facilities.
Not to be overlooked, the SBA increased its exposure to the self-storage sector with the $31 million acquisition of the Bellport property in Bellport, New York, also facilitated by Heitman. Self-storage has proven particularly robust, with Americans’ penchant for accumulating possessions and the rise of remote work fueling demand for extra space.
Rounding out the spree was a smaller, unspecified retail investment of $4.6 million, demonstrating that even as retail faces headwinds from online shopping, select opportunities remain attractive to institutional buyers.
Meanwhile, on the opposite coast, Accordia, a Fairfield-based investment firm, announced its first commercial real estate acquisition in South Carolina—a deal that also happens to be the largest in its 20-year history. As reported by Charleston Business Journal, Accordia acquired Remount I & II, a sprawling 305,114-square-foot industrial portfolio in North Charleston, for $48.05 million. The Remount Business Park, consisting of two single-story dual-flex buildings on 25.88 acres, is currently 90% leased and strategically located minutes from the Charleston International Airport, major highways like I-26 and I-526, and adjacent to the North Charleston Port Terminal and rail line.
Frank Recine, principal at Accordia, emphasized the property’s potential: "Remount Business Park has a lot of unlocked potential; our plan is to upgrade the entire campus and give it a brand-new reputation for both our existing and new tenants." The buildings, located at 1101 and 1141 Remount Road, offer flexible floor plates suitable for a range of industrial tenants, including defense organizations—one of North Charleston’s fastest-growing industries—as well as more traditional users.
Constructed with steel frames and reinforced concrete tilt-up walls, the properties boast six dock slips, 13 drive-in doors, 18-foot clear ceiling heights, and expansive 240-foot truck courts. These features are designed to accommodate the complex needs of modern logistics and industrial tenants, making the site a compelling addition to Accordia’s portfolio.
Jason Bogart, another principal at Accordia, highlighted the strategic rationale for the deal: "This asset is a strategic acquisition for us, as it expands our Southeast platform into a new region and state, and allows us to keep connecting the portfolio up and down the Eastern Seaboard." He added, "A year ago, we put our new acquisition program into place, and it’s been working exactly as planned. This is our sixth closing in less than 12 months as we close in on our goal of $100MM in new deals by year’s end."
For Accordia, the Remount acquisition is more than just a real estate play—it’s a statement of intent. By entering the South Carolina market with such a sizable transaction, the firm is signaling its commitment to growth in the Southeast and its confidence in the region’s economic prospects. The location, across from the Naval Information Warfare Center’s Atlantic Base and adjacent to key transportation infrastructure, positions the property to benefit from both public and private sector demand.
Both the Florida SBA and Accordia are betting that their respective investments will pay off in the form of stable returns and long-term appreciation. For the Florida SBA, the diversity of asset types—from apartments and student housing to logistics, healthcare, and self-storage—reflects a sophisticated approach to portfolio construction, one that seeks to balance risk and reward across economic cycles. Accordia, meanwhile, is leveraging its expertise in industrial assets to carve out a larger presence in a region that’s attracting both new residents and businesses at a rapid clip.
As the U.S. real estate market continues to evolve, these latest moves by two well-established investors offer a window into the strategies shaping the sector’s future. Whether it’s the steady income of apartments and student housing, the growth potential of logistics and industrial sites, or the resilience of medical offices and self-storage, the deals announced this week underscore the enduring appeal—and complexity—of real estate as an investment class.
With large sums on the line and ambitious plans for upgrades and expansions, all eyes will be on how these assets perform in the months and years ahead. For now, both the Florida SBA and Accordia seem confident that they’ve placed their bets wisely, setting the stage for further activity in an ever-competitive market.
