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POWER OF ATTORNEY
KNOW
ALL PERSONS BY THESE PRESENTS, that the undersigned hereby
nominates, constitutes and appoints Brett S. Klein, Frank V.
Saracino and Sandra M. Forman, and (with full power to each of them
to act alone) his true and lawful attorney-infact and agent
for him on his behalf and in his name, place and stead, in any way
and all capacities to:
1.
execute for and on
behalf of the undersigned, in the undersigned’s capacity as a
reporting person pursuant to Section 16 of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”), and the rules
thereunder of NorthStar/Townsend Institutional Real Estate Fund
Inc. (the “Fund”), Forms 3, 4 and 5 in
accordance with Section 16(a) of the Exchange
Act;
2.
do and perform any
and all acts for and on behalf of the undersigned that may be
necessary or desirable to complete and execute any such Form 3, 4
or 5 and to timely file such form with the U.S. Securities and
Exchange Commission and stock exchange or similar authority,
including without limitation: completing and filing an application
for EDGAR codes (i.e., CIK and CCC codes); and
3.
take any other
action of any type whatsoever in connection with the foregoing
that, in the opinion of any such attorney-in-fact, may be of
benefit to, in the best interest of, or legally required by, the
undersigned, it being understood that the documents executed by any
such attorney-in-fact on behalf of the undersigned pursuant to this
Power of Attorney shall be in such form and shall contain such
terms and conditions as any such attorney-in-fact may approve in
the discretion of any such attorney-in-fact.
The
undersigned hereby grants to each such attorney-in-fact full power
and authority to do and perform any and every act and thing
whatsoever required, necessary, or proper to be done in the
exercise of any rights and powers herein granted, as fully to all
intents and purposes as the undersigned might or could do if
personally present, with full power of substitution or revocation,
hereby ratifying and confirming all that any such attorney-in-fact,
or the substitute or substitutes of any such attorney-in-fact,
shall lawfully do or cause to be done by virtue of this Power of
Attorney and the rights and powers herein granted. The undersigned
acknowledges that the foregoing attorneys-in-fact, in serving in
such capacity at the request of the undersigned, are not assuming,
nor is the Fund assuming, any of the undersigned’s
responsibilities to comply with Section 16 of the Exchange
Act.
This
Power of Attorney shall remain in full force and effect until the
undersigned is no longer required to file Forms 3, 4 and/or 5 with
respect to the undersigned’s holdings of and transactions in
securities issued by the Fund, unless earlier revoked by the
undersigned in a signed writing delivered to any of the foregoing
attorneys-in-fact.
IN
WITNESS WHEREOF, the undersigned has caused this Power of Attorney
to be executed as of this 3rd day of May,
2017.
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Signature:
/s/ Jack F. Smith,
Jr.
Name:
Jack F. Smith, Jr.
Title:
Director
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