CalSTRS searches for real estate consultant
The $188.7 billion California State Teachers’ Retirement System is searching for a real estate consultant, according to board meeting documents.
The pension system’s current contract with The Townsend Group expires in late February 2018 and CalSTRS is looking to sign a new contract with a consultant sometime during the first quarter of 2018. Reponses to the RFP are due in August and interviews will be conducted in November.
The key role of the real estate consultant is to monitor and evaluate the performance of the real estate program. In addition, the role of the real estate consultant is to work for the investment committee and with the staff in providing expertise and advice on investment policies, practices and strategies related to the real estate program.
The real estate consultant’s duties also include making quarterly investment reports, attending investment committee meetings and advising the pension system on industry trends. The lead consultant