The Los Angeles Water & Power Employees' Retirement Plan has narrowed its search for a real estate consultant to three finalists, according to recently released board meeting minutes.
In September 2020, Los Angeles published an RFP seeking the advisory services of a real estate consultant to assist with developing the plan’s real estate investment program. Five qualified firms submitted responses to the RFP, including Albourne America, Callan, Meketa Investment Group, StepStone Real Estate and Townsend.
StepStone currently serves as the dedicated real estate consultant for Los Angeles. The contract was originally awarded to Courtland Partners in 2008 and was renewed for additional three-year terms in 2011 and 2014. In 2018, following the acquisition of Courtland by StepStone, StepStone was reassigned to the consulting contract. In May 2020, L
