Florida State Board sticks with Townsend Group as real estate consultant

Florida State Board of Administration, Tallahassee, rehired Townsend Group as consultant for real estate and real estate strategic investments consultant services after a search, said John Kuczwanski, FSBA communications manager.

The hiring is pending contact negotiations.

Courtland Partners and ORG Portfolio Management were the other finalists. The board, which oversees a total $168.5 billion, initiated the search because Townsend's contract expires June 30.

The Tallahassee-based $137.6 billion Florida Retirement System defined benefit plan, whose assets the FSBA oversees, had $10 billion in real estate and $6.4 billion in strategic or opportunistic investments. A breakout of the strategic real estate investments wasn't available.