Iowa Public Employees Retirement System, Des Moines, at its April 6 board meeting expects to select a manager to run a $100 million core real estate portfolio, said Patrick Reinhardt, investment officer for the $16 billion system. Finalists are J.P. Morgan and PM Realty Advisors. The mandate is new for the system, which has a 5% allocation to real estate. Funding will come from cash. The Townsend GroupTownsend Group is assisting.