Real Estate Separate Account Manager Search
The Arkansas Teacher Retirement System (ATRS), referred to as the Client, is conducting a search to
identify a qualified discretionary real estate manager to manage an existing separate account (the
Account) comprised of investments located primarily within the state of Arkansas. The Client is seeking
one investment manager (Manager) to takeover management of the portfolio and pursue disposition
opportunities as warranted by market conditions. The Account is expected to earn a competitive internal
rate of return (IRR) through the lifetime of each investment. The portfolio of buildings consists primarily of
office space, but also includes retail and mixed use (including office and land), raw land, and a retirement
community. The office properties range from 15,000 to 250,000 square feet in space. The portfolio also
contains two partnerships located outside Arkansas. One partnership consists of three multifamily
communities in Oklahoma totaling 1,704 units with affiliated golf courses. The other partnership includes
two office buildings in Nashville, TN totaling 410,632 of office space.
