Ohio Bureau of Workers Compensation (BWC) is planning to hire RVK or NEPC as its new real estate investment consultant.

The provider of workers’ compensation insurance with a $3.4bn (€2.8bn) real estate portfolio said it expects to make a final decision on the search at its board meeting on 26 May.

Ohio BWC shortlisted the pair from nine firms that responded to the request for proposal issued last year. The search was narrowed down to four finalists which included Stepstone Real Estate and The Townsend Group.

The selected firm will be awarded an initial three-year contract with a two one-year renewal options.

The new consultant will be offering a variety of real estate investment services, including strategies, due diligence and research services.

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