Florida SBA also trades US medical offices through Heitman separate account. : BlackRock has begun raising capital for its fifth European opportunistic real estate fund and has attracted investment from the Florida State Board of Administration (SBA). A board meeting report by Florida SBA said BlackRock Europe Property Fund V was an opportunistic fund targeting assets including office, retail and student housing. According to a source at the $203bn (€179bn) pension fund, Florida SBA has approved an €88m commitment. Florida SBA made a $25m commitment to the fund’s predecessor in 2016, which raised €700m in April last year.