The approximate mandate will be up to $55 million, representing a 2.5% target allocation of the total fund once capital is fully deployed. The mandate will be benchmarked NCREIF ODCE Value-Weighted Index. The adviser must have a closed-end commingled fund open for subscription or an open-end commingled fund available for investment. Multiple managers will be considered.

Proposed strategies should exhibit:

• Minimum target fund size: $250 million
• Targeted strategies: non-core real estate value-add and opportunistic; core plus strategies will not be considered
• Respondent must manage a minimum of $1 billion in real estate private assets (Qualified Women, Minority, or Disabled Owned Businesses are exempt and will be evaluated for further consideration at the fund’s discretion)
• Fund must be diversified, invested in multiple property sectors in the U.S.; single property sector and global strategies will not be considered
• Fund of fund products will not be considered
• Real estate debt strategies will not be considered