The Oregon Public Employees Retirement Fund allocated $250 million to a newly established U.S. property separate account strategy with DivcoWest, IPE Real Assets reported, citing a meeting document.

According to the report, the Oregon pension fund said the separate account will have a core-plus investment strategy and is expected to achieve returns between 9% and 10% on a levered basis.

DivcoWest did not comment on the matter, IPE added.