Taunton (Mass.) Contributory Retirement System hired core-plus real estate manager Intercontinental Real Estate to manage $5 million, confirmed Steven Roth, managing director and chief investment officer at Dahab Associates, the investment consultant that assisted the $221 million pension fund in the search.
As of June 30, the pension fund had a 12% allocation to real estate.
An RFP was issued in October. Principal Real Estate Investors and Prudential Real Estate Investors were also finalists.
