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RE fundsReal estate fund manageria1b 5bvalue add · candidate

Lionstone Investments

Real Estate Funds

Houston, TX

Search this name across graphsid dfx:ref:ef7928f9-def3-4353-94a3-f4cbc51cf6d1

Data as of Sep 19, 2026 (this record's last observation) from Adviser-reported funds; Property side (read only); Capital side; Manager sites. Page built Sep 20, 2026, 7:40 AM UTC and rebuilt at most every 15 minutes.

Relationships: 29
Dated events: 20
On other graphs: 1
Observed: Sep 15, 2026 to Sep 19, 2026
13 observations

Across DFX

same identity by shared identifier, citation, or a bridge measured by hand

RIA / Wealth Managementidentity

LIONSTONE INVESTMENTS

Registered adviser · shared crd

Facts

fact = as filed or announced; derived = computed by DFX; estimate = a band, never a point

Website: lionstonegroup.com
Reported GAV: $1.5Bgross asset value on the latest filing, feeders excluded, quarantined above 3x RAUM; not fund size
GAV as reported: $1.5Bbefore the feeder and quarantine rules; a quarantined manager enters no total
Strategy class: VALUE_ADDinferencea candidate from the manager's own site read until its quote verification passes
RAUM: $4.4Bregulatory assets as filed
Vehicles, current: 11
Vehicles, ever: 16
First real estate filing: 2011
Latest vintage: 2021
Latest ADV filing: Oct 29, 2024
Bound properties: 3derivedthrough validated holding bindings only
Loans: 7derivedon bound holdings
Lenders: 1derivedon bound holdings
Allocators naming this manager: 0derivedpublic pension commitment lists
CRD: 160214
SEC number: 801-73009

Vehicles

Real Estate Fund vehicles this adviser swore on Schedule D 7.B(1); GAV is gross asset value as filed, never fund size, and a feeder repeats its master and is excluded from the manager's sum

Vehicle	Kind	GAV, latest	As of	Quarantined	Owners	Vintage	First reported	Lifecycle	Current
Lionstone U.S. Value-Add Four, L.P.	fund	$889M	Oct 29, 2024	no	4	2015	2015	Investing	yes
Lionstone U.S. Value-Add Five, L.P.	fund	$627M	Oct 29, 2024	no	0	2019	2019	Mature	yes
Lionstone U.S. Land One, L.P.	fund	$16.1M	Oct 29, 2024	no	3	n/a	2011	Winding down	yes
Lva4 Co-Investment I, L.P.	Co investment	$1.8M	Oct 29, 2024	no	2	2015	2015	Winding down	yes
Lva4 Co-Investment II, L.P.	Co investment	$1.8M	Oct 29, 2024	no	2	2016	2016	Winding down	yes
Lva4 Co-Investment III, L.P.	Co investment	$564,184	Oct 29, 2024	no	2	2016	2016	Winding down	yes
Lionstone U.S. Land Two, L.P.	fund	$514,843	Oct 29, 2024	no	4	2013	2013	Winding down	yes
Lva5 Co-Investment I, L.P.	Co investment	$397,473	Oct 29, 2024	no	0	2019	2019	Winding down	yes
Lva5 Co-Investment II, L.P.	Co investment	$308,723	Oct 29, 2024	no	0	2019	2019	Winding down	yes
Lva5 Co-Investment IV, L.P.	Co investment	$79,283	Oct 29, 2024	no	0	2021	2021	Winding down	yes
Lva5 Co-Investment III, L.P.	Co investment	$26,311	Oct 29, 2024	no	0	2020	2020	Winding down	yes
Lionstone Oregon Real Estate One, L.P.	fund	$1.2B	Oct 29, 2024	no	2	n/a	2011	Harvesting	no
Lionstone Commercial Real Estate Alpha Driver Partners, L.P.	fund	$604M	Oct 29, 2024	no	2	n/a	2011	Harvesting	no
Lionstone Urban Investments Two, L.P.	fund	$2.9M	Oct 9, 2018	no	28	n/a	2011	Dropped	no
Lionstone Cash Flow Office Two, LLC	fund	$574,705	Sep 20, 2019	no	2	n/a	2011	Dropped	no
Lionstone Urban Investments One, L.P.	fund	$0	Oct 9, 2018	no	14	n/a	2011	Dropped	no

Reported GAV by year

the sum of gross asset value over this manager's non-feeder vehicle rows per calendar year, as filed; the manager-level quarantine (summed GAV above three times its own RAUM) is a flag on the card and is not applied here; 144 rows folded into 14

Year	Vehicles reporting	GAV, sum
2024	13	$3.3B
2023	13	$4.8B
2022	13	$5.3B
2021	13	$4.8B
2020	12	$4.5B
2019	12	$3.7B
2018	11	$3.1B
2017	11	$3.0B
2016	11	$2.7B
2015	9	$1.9B
2014	7	$1.7B
2013	7	$1.9B
2012	6	$1.7B
2011	6	$1.7B

Relationships

Holds (2)

→ Lionstone Commercial Real Estate Alpha Driver Partners, L.P.Property holding entityName only
inferenceDFX's own graph
→ Lionstone U.S. Value-Add Four, L.P.Property holding entityCorporate filing
inferenceDFX's own graph

Employs (8)

→ Hans Gunnar NordbyPrincipalHead Of Research And Analytics
Oct 1, 2022 to presentfactForm ADV
→ Samantha Jean CastanedaPrincipalChief Compliance Officer
Apr 1, 2023 to presentfactForm ADV
→ Sean LiuPrincipalChief Legal Officer
Apr 1, 2023 to presentfactForm ADV
→ Richard Dana RowellPrincipalHead Of Valuations And Co-Head Of Investment Risk
Apr 1, 2023 to presentfactForm ADV
→ Stewart BennettPrincipalInterim Chief Executive Officer
Oct 1, 2023 to presentfactForm ADV
→ Andrew James BrucePrincipalChief Financial Officer & Chief Operating Officer
Dec 1, 2019 to presentfactForm ADV
→ Shweta JhanjiPrincipalTreasurer
Jan 1, 2020 to presentfactForm ADV
→ Stephen Bailey JonesPrincipalHead Of Acquisitions
Jun 1, 2021 to presentfactForm ADV

Manages (16)

→ Lionstone U.S. Land One, L.P.Real estate fund vehiclefund
Dec 23, 2011 to presentfactForm ADV
→ Lionstone Cash Flow Office One, LPReal estate fund vehiclefund
Dec 23, 2011 to presentfactForm ADV
→ Lionstone Cash Flow Office Two, LLCReal estate fund vehiclefund
Dec 23, 2011 to presentfactForm ADV
→ Lionstone Cash Flow Real Estate Partners One, L.P.Real estate fund vehiclefund
Dec 23, 2011 to presentfactForm ADV
→ Lionstone Urban Investments One, L.P.Real estate fund vehiclefund
Dec 23, 2011 to presentfactForm ADV
→ Lionstone Urban Investments Two, L.P.Real estate fund vehiclefund
Dec 23, 2011 to presentfactForm ADV
→ Lionstone U.S. Land Two, L.P.Real estate fund vehiclefund
Apr 1, 2013 to presentfactForm ADV
→ Lva4 Co-Investment I, L.P.Real estate fund vehicleCo investment
Nov 20, 2015 to presentfactForm ADV
→ Lionstone U.S. Value-Add Four, L.P.Real estate fund vehiclefund
Nov 20, 2015 to presentfactForm ADV
→ Lva4 Co-Investment II, L.P.Real estate fund vehicleCo investment
Feb 25, 2016 to presentfactForm ADV
→ Lva4 Co-Investment III, L.P.Real estate fund vehicleCo investment
Feb 25, 2016 to presentfactForm ADV
→ Lva5 Co-Investment II, L.P.Real estate fund vehicleCo investment
Mar 28, 2019 to presentfactForm ADV
→ Lionstone U.S. Value-Add Five, L.P.Real estate fund vehiclefund
Mar 28, 2019 to presentfactForm ADV
→ Lva5 Co-Investment I, L.P.Real estate fund vehicleCo investment
Mar 28, 2019 to presentfactForm ADV
→ Lva5 Co-Investment III, L.P.Real estate fund vehicleCo investment
Mar 26, 2020 to presentfactForm ADV
→ Lva5 Co-Investment IV, L.P.Real estate fund vehicleCo investment
Mar 29, 2021 to presentfactForm ADV

Owns (2)

← Columbia Management Investment Advisers, LLCOrgManaging Member
Nov 1, 2017 to presentfactForm ADV
← Ameriprise Financial, Inc.OrgManaging Member
May 1, 2010 to presentfactForm ADV

Dated events

Occurred
Mar 29, 2021
Vehicle first reported on Form ADV
Lva5 Co-Investment IV, L.P. first reported on Form ADV by Lionstone Investments, GAV $150,000,000
Form ADVobserved 4 days ago
$150M
Occurred
Mar 26, 2020
Vehicle first reported on Form ADV
Lva5 Co-Investment III, L.P. first reported on Form ADV by Lionstone Investments, GAV $20,000,000
Form ADVobserved 4 days ago
$20.0M
Occurred
Mar 26, 2020
Vehicle dropped from Form ADV
Lionstone Cash Flow Office Two, LLC no longer reported on Form ADV by Lionstone Investments
Form ADVobserved 4 days ago
Occurred
Mar 28, 2019
Vehicle dropped from Form ADV
Lionstone Urban Investments One, L.P. no longer reported on Form ADV by Lionstone Investments
Form ADVobserved 4 days ago
Occurred
Mar 28, 2019
Vehicle dropped from Form ADV
Lionstone Urban Investments Two, L.P. no longer reported on Form ADV by Lionstone Investments
Form ADVobserved 4 days ago
Occurred
Mar 28, 2019
Vehicle first reported on Form ADV
Lva5 Co-Investment II, L.P. first reported on Form ADV by Lionstone Investments, GAV $100,010,001
Form ADVobserved 4 days ago
$100M
Occurred
Mar 28, 2019
Vehicle first reported on Form ADV
Lva5 Co-Investment I, L.P. first reported on Form ADV by Lionstone Investments, GAV $100,010,001
Form ADVobserved 4 days ago
$100M
Occurred
Mar 28, 2019
Vehicle first reported on Form ADV
Lionstone U.S. Value-Add Five, L.P. first reported on Form ADV by Lionstone Investments, GAV $206,185,000
Form ADVobserved 4 days ago
$206M
Occurred
Feb 25, 2016
Vehicle first reported on Form ADV
Lva4 Co-Investment II, L.P. first reported on Form ADV by Lionstone Investments, GAV $145,233,482
Form ADVobserved 4 days ago
$145M
Occurred
Feb 25, 2016
Vehicle first reported on Form ADV
Lva4 Co-Investment III, L.P. first reported on Form ADV by Lionstone Investments, GAV $30,766,738
Form ADVobserved 4 days ago
$30.8M
Occurred
Nov 20, 2015
Vehicle first reported on Form ADV
Lva4 Co-Investment I, L.P. first reported on Form ADV by Lionstone Investments, GAV $127,763,442
Form ADVobserved 4 days ago
$128M
Occurred
Nov 20, 2015
Vehicle first reported on Form ADV
Lionstone U.S. Value-Add Four, L.P. first reported on Form ADV by Lionstone Investments, GAV $196,580,553
Form ADVobserved 4 days ago
$197M
Occurred
Apr 1, 2013
Vehicle first reported on Form ADV
Lionstone U.S. Land Two, L.P. first reported on Form ADV by Lionstone Investments, GAV $99,518,735
Form ADVobserved 4 days ago
$99.5M
Occurred
Dec 23, 2011
Manager's first real estate fund filing
Lionstone Investments first filed Form ADV in the extract (IA)
Form ADVobserved 4 days ago
Occurred
Dec 23, 2011
Vehicle first reported on Form ADV
Lionstone U.S. Land One, L.P. first reported on Form ADV by Lionstone Investments, GAV $51,519,260 (tape start: the fund may be older)
Form ADVobserved 4 days ago
$51.5M
Occurred
Dec 23, 2011
Vehicle first reported on Form ADV
Lionstone Urban Investments Two, L.P. first reported on Form ADV by Lionstone Investments, GAV $431,435,000 (tape start: the fund may be older)
Form ADVobserved 4 days ago
$431M
Occurred
Dec 23, 2011
Vehicle first reported on Form ADV
Lionstone Urban Investments One, L.P. first reported on Form ADV by Lionstone Investments, GAV $159,936,000 (tape start: the fund may be older)
Form ADVobserved 4 days ago
$160M
Occurred
Dec 23, 2011
Vehicle first reported on Form ADV
Lionstone Commercial Real Estate Alpha Driver Partners, L.P. first reported on Form ADV by Lionstone Investments, GAV $330,906,139 (tape start: the fund may be older)
Form ADVobserved 4 days ago
$331M
Occurred
Dec 23, 2011
Vehicle first reported on Form ADV
Lionstone Cash Flow Office Two, LLC first reported on Form ADV by Lionstone Investments, GAV $263,448,000 (tape start: the fund may be older)
Form ADVobserved 4 days ago
$263M
Occurred
Dec 23, 2011
Vehicle first reported on Form ADV
Lionstone Oregon Real Estate One, L.P. first reported on Form ADV by Lionstone Investments, GAV $426,548,121 (tape start: the fund may be older)
Form ADVobserved 4 days ago
$427M

Provenance

Graph: Real Estate Funds
Canonical id: dfx:ref:ef7928f9-def3-4353-94a3-f4cbc51cf6d1
First observed: Sep 15, 2026
Last observed: Sep 19, 2026 12 h ago
Resolution: Identity across graphs by shared identifier (CRD, CIK, EIN, ADV fund id, individual CRD) or citation; a name match is shown as a candidate and never merged.

Lionstone Investments

Real Estate Funds

Houston, TX

Search this name across graphsid dfx:ref:ef7928f9-def3-4353-94a3-f4cbc51cf6d1

Vehicle

Kind

GAV, latest

As of

Quarantined

Owners

Vintage

First reported

Lifecycle

Current

Allocators

Lionstone U.S. Value-Add Four, L.P.

fund

$889M

Oct 29, 2024

2015

Investing

yes

Lionstone U.S. Value-Add Five, L.P.

fund

$627M

Oct 29, 2024

2019

Mature

yes

Lionstone U.S. Land One, L.P.

fund

$16.1M

Oct 29, 2024

n/a

2011

Winding down

yes

Lva4 Co-Investment I, L.P.

Co investment

$1.8M

Oct 29, 2024

2015

Winding down

yes

Lva4 Co-Investment II, L.P.

Co investment

$1.8M

Oct 29, 2024

2016

Winding down

yes

Lva4 Co-Investment III, L.P.

Co investment

$564,184

Oct 29, 2024

2016

Winding down

yes

Lionstone U.S. Land Two, L.P.

fund

$514,843

Oct 29, 2024

2013

Winding down

yes

Lva5 Co-Investment I, L.P.

Co investment

$397,473

Oct 29, 2024

2019

Winding down

yes

Lva5 Co-Investment II, L.P.

Co investment

$308,723

Oct 29, 2024

2019

Winding down

yes

Lva5 Co-Investment IV, L.P.

Co investment

$79,283

Oct 29, 2024

2021

Winding down

yes

Lva5 Co-Investment III, L.P.

Co investment

$26,311

Oct 29, 2024

2020

Winding down

yes

Lionstone Oregon Real Estate One, L.P.

fund

$1.2B

Oct 29, 2024

n/a

2011

Harvesting

Lionstone Commercial Real Estate Alpha Driver Partners, L.P.

fund

$604M

Oct 29, 2024

n/a

2011

Harvesting

Lionstone Urban Investments Two, L.P.

fund

$2.9M

Oct 9, 2018

n/a

2011

Dropped

Lionstone Cash Flow Office Two, LLC

fund

$574,705

Sep 20, 2019

n/a

2011

Dropped

Lionstone Urban Investments One, L.P.

fund

Oct 9, 2018

n/a

2011

Dropped

Year

Vehicles reporting

GAV, sum

2024

$3.3B

2023

$4.8B

2022

$5.3B

2021

$4.8B

2020

$4.5B

2019

$3.7B

2018

$3.1B

2017

$3.0B

2016

$2.7B

2015

$1.9B

2014

$1.7B

2013

$1.9B

2012

$1.7B

2011

$1.7B