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Report: Ohio pension fund buys 50% stake in Brooklyn, NY, mixed-use property

The State Teachers Retirement System of Ohio purchased a 50% interest in the rental and retail portion of The Greenpoint mixed-use building in Brooklyn, N.Y., in a transaction that values the property at more than $350 million, The Real Deal reported, citing unnamed sources.

The pension plan shelled out $95 million to acquire its stake in the 40-story building at 21 India St., the report added, citing a source familiar with the transaction.

The property was developed by a partnership among Mack Real Estate, Palin Enterprises and Urban Development Partners, according to the report.

The publication could not get a comment on the matter from the pension fund or Mack Real Estate.