The Massachusetts Housing Finance Agency Retirement System has launched an RFP seeking proposals from core real estate strategies, according to a document published by Meketa Investment Group. The board plans to invest $30 million in an open-ended core real estate fund.
The retirement system will only consider proposals for experienced managers of open-end core real estate funds. The investment proposed should have a minimum net asset value of $1 billion; be diversified both geographically and by property type with more than 30 properties; and be a constituent of the NCREIF ODCE Index. Secondary and fund-of-funds investments will not be considered.
As of September 30, Massachusetts Housing Finance Agency Retirement System had a 13.3 percent actual allocation to real estate, against a target of 8 percent.
The deadline to submit proposals is Nov. 30.
