MassPRIM re-ups with Townsend for real estate, timber consulting services
The board for the Massachusetts Pension Reserves Investment Management Board, which manages Massachusetts’ $59.7 billion Pension Reserves Investment Trust, has approved the real estate and timber committee’s recommendation to retain the The Townsend Group as the board’s general real estate and timber consultant for the next three years.
Townsend’s previous three-year term with the board ended Aug. 1, and the firm was allowed to reapply for the position along with other candidates. According to documents from the real estate and timber committee, the committee liked Townsend’s “superior depth of expertise and resources relative to its peers,” and found its focus on real estate and timber alone to be a positive.
Under Townsend’s guidance, MassPRIM’s $3.8 billion private real estat