Investors - APRIL 14, 2017

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New Jersey searches for real estate consultant

by Jody Barhanovich

The $71.2 billion New Jersey Division of Investment is searching for a new real estate consultant, specifically for “asset-specific investment consulting services for defined benefits programs in New Jersey’s real estate portfolio.”

All firms must have at least three years of experience in providing real estate consulting services to institutional clients, which include at least two clients with real estate portfolios of approximately $500 million in commitments.

Proposals are due June 1. The real estate consultant RFP can be found on the pension fund’s website.

In previous commitments to real estate funds, New Jersey allocated $100 million each to Wheelock Street Real Estate Fund V, which invests in individual properties, portfolios and operating companies, and Exeter Core I

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