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Rhode Island city to invest $7m in real estate

by Andrea Waitrovich

The City of Newport, R.I., is conducting a search for a core-plus/value-added real estate manager to manage a $7 million mandate. The search is open to both open-end and closed-end real estate funds, but not portfolios of publicly listed securities. The plan has approximately $150 million in total assets. Proposals are due March 27. The RFP is available on the website of the pension fund’s investment consultant, Dahab Associates.

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