The LiUNA Pension Fund of Central and Eastern Canada is making its first investment in a U.S. real estate development, backing a 380-unit Chicago project alongside longtime investment partner Fengate.

The pension fund is the anchor investor in Fengate’s Social Opportunities strategy, which is investing with Chicago-based Mavrek in Julep West Loop, a 25-storey mixed-use development at 1000 W. Jackson Blvd.

“Julep West Loop represents a pivotal milestone for LiUNA as our first investment in a real estate development in the United States,” said Joseph Mancinelli, chair of the pension fund and LiUNA international vice-president and regional manager for Central and Eastern Canada.

The deal also takes Fengate’s real estate platform into the U.S. for the first time. The Toronto-area alternative asset manager already invests south of the border through other parts of its business, including infrastructure.

The Chicago investment extends a longstanding Fengate-LiUNA relationship that has backed a growing portfolio of Canadian housing investments. Fengate’s Social Opportunities strategy targets housing, health care and logistics assets across Canada and the U.S.

As Connect reported Friday, Julep will include 380 apartments, including 76 affordable units, and more than 21,500 SF of commercial space. First occupancy is targeted for early 2028.