CalSTRS calls out for real estate consultants

CalSTRS is searching for a real estate consultant, confirmed spokesman Ricardo Duran.

The real estate consultant is responsible for advising the investment committee of the California State Teachers' Retirement System, West Sacramento, on matters of real estate policy and strategy, and reporting performance, Mr. Duran said.

The contract is for three years with two additional one-year renewal options.

Incumbent Townsend Group is invited to rebid.

The RFP is available on CalSTRS' website at www.calstrs.com/About%20CalSTRS/Contract%20Opportunities/RFP/2P201201.aspx.

Proposals are due at 2 p.m. PDT Oct. 23. Semifinalist interviews will take place Nov. 8-9; finalists interviews, Dec. 6; and a hiring decision is expected in February.

The $152.1 billion pension fund had $21.3 billion invested in real estate as of July 2.