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RIA / WealthRegistered adviserformer SEC advisernot on rosterRAUM under $100M

FS REIT ADVISOR, LLC

FS REAL ESTATE ADVISOR, LLC, CRD 286672

PHILADELPHIA, PA

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Search this name across graphsid dfx:ria:08c62934-2dd0-2eb9-b8e1-3b8065098b4e

Data as of Apr 10, 2017 (this record's last observation) from federal regulator filings. Page built Sep 19, 2026, 11:30 AM UTC and rebuilt at most every 15 minutes.

Relationships: 20
Dated events: 1
On other graphs: 0
Observed: Jan 25, 2017 to Apr 10, 2017
4 observations

Across DFX

This entity has not been resolved onto another DFX graph by a shared identifier. A name match elsewhere would be a candidate, never an identity, and none is recorded.

Facts

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

Firm class: former SEC adviserderivedabsent from the latest SEC roster
Regulatory AUM: $200,000Item 5.F on the latest filing (2017-04-10); as reported, and an affiliate's assets may be counted again on its own filing
Discretionary RAUM: $0
Private client RAUM: $0derivedItem 5.D individuals plus high net worth individuals
Private client share: 0%derivedprivate client RAUM over total RAUM
Advisors on IAPD: 0
Employees: 143
Advisory employees: 10
Accounts: 1
SEC number: 801-109926
CRD: 286672
Filings on the tape: 4
First filed: Jan 25, 2017
Latest filed: Apr 10, 2017
Organised: Limited Liability Company, Delaware

Owners and control persons

Schedule A and B as filed; ownership codes are the form's bands (NA under 5%, A 5 to 10%, B 10 to 25%, C 25 to 50%, D 50 to 75%, E over 75%); people are listed as filed and never merged by name

Owner	Title	Ownership code	Control person	Acquired	First seen	Last seen
ADELMAN, DAVID, JASON	MANAGING MEMBER OF THE GENERAL PARTNER	C	yes	03/2007	Jan 25, 2017	Apr 10, 2017
ADELMAN, DAVID, JASON	Principal	Na	yes	01/2017	Jan 25, 2017	Apr 10, 2017
ADELMAN, DAVID, JASON	Member	D	yes	01/2017	Jan 25, 2017	Apr 10, 2017
DARCO CAPITAL, L.P.	MEMBER, CLASS A	A	yes	01/2017	Apr 10, 2017	Apr 10, 2017
FORMAN, MICHAEL, CRAIG	CHAIRMAN AND CHIEF EXECUTIVE OFFICER	B	yes	01/2017	Jan 25, 2017	Apr 10, 2017
FORMAN, MICHAEL, CRAIG	MANAGING MEMBER	D	yes	01/2017	Jan 25, 2017	Apr 10, 2017
FRANKLIN SQUARE HOLDINGS, GP	GENERAL PARTNER	F	yes	01/2017	Jan 25, 2017	Apr 10, 2017
FRANKLIN SQUARE HOLDINGS, LP	MEMBER, CLASS C	E	yes	01/2017	Jan 25, 2017	Apr 10, 2017
THE 2011 FORMAN INVESTMENT TRUST	MEMBER, CLASS A	B	yes	01/2017	Jan 25, 2017	Apr 10, 2017
DETWILER, ELIZABETH, CAMILLA	Cco	Na	no	01/2017	Jan 25, 2017	Apr 10, 2017
HELLER, MICHAEL, JAY	TRUSTEE - THE 2011 FORMAN INVESTMENT TRUST	Na	no	01/2012	Jan 25, 2017	Apr 10, 2017
HELLER, MICHAEL, JAY	Trustee	F	no	01/2017	Jan 25, 2017	Apr 10, 2017

Affiliates (Item 7.A)

as filed on Item 7.A; a related person with a CRD on the graph links to its own page

Related person	Type	Class on the graph	Its RAUM	Control	Common control	State
FSIC II ADVISOR, LLC	n/a	Former SEC adviser	$5.1B	N	yes	n/a
FS INVESTMENT ADVISOR, LLC	n/a	Former SEC adviser	$4.3B	N	yes	n/a
FB INCOME ADVISOR, LLC	n/a	Former SEC adviser	$4.1B	N	yes	n/a
FSIC III ADVISOR, LLC	n/a	Former SEC adviser	$3.8B	N	yes	n/a
FS GLOBAL ADVISOR, LLC	n/a	Asset manager	$3.0B	N	yes	n/a
FS FUND ADVISOR, LLC	n/a	Asset manager	$1.6B	N	yes	n/a
FSIC IV ADVISOR, LLC	n/a	Former SEC adviser	$376M	N	yes	n/a
FS ENERGY ADVISOR, LLC	n/a	Former SEC adviser	$46.0M	N	yes	n/a
FRANKLIN SQUARE HOLDINGS, L.P.	n/a	n/a	n/a	Y	yes	n/a
FS INVESTMENT SOLUTIONS, LLC	n/a	n/a	n/a	N	yes	n/a

Regulatory AUM by fiscal year

annual amendments (and the roster's annual snapshot) as filed; where a year was amended twice the later filing draws the line

Fiscal year	Filed	RAUM	Discretionary	Employees	Advisory staff	Offices	Private funds	Fund GAV
2016	Mar 30, 2017	$200,000	$0	143	10	n/a	n/a	n/a

Growth

derived from consecutive annual filings; RAUM as reported

Latest fiscal year	RAUM	A year earlier	1y change	Three years earlier	3y CAGR	Employees	A year earlier	Offices	A year earlier
2016	$200,000	n/a	n/a	n/a	n/a	143	n/a	n/a	n/a

Relationships

Affiliated with (8)

→ FB INCOME ADVISOR, LLCRegistered adviserother investment adviser, common control
factForm ADV
→ FS INVESTMENT ADVISOR, LLCRegistered adviserother investment adviser, bank, common control
factForm ADV
→ FSIC II ADVISOR, LLCRegistered adviserother investment adviser, bank, common control
factForm ADV
→ FS GLOBAL ADVISOR, LLCRegistered adviserother investment adviser, bank, common control
factForm ADV
→ FSIC III ADVISOR, LLCRegistered adviserother investment adviser, bank, common control
factForm ADV
→ FSIC IV ADVISOR, LLCRegistered adviserother investment adviser, common control
factForm ADV
→ FS ENERGY ADVISOR, LLCRegistered adviserother investment adviser, common control
factForm ADV
→ FS FUND ADVISOR, LLCRegistered adviserother investment adviser, common control
factForm ADV

Owns (2)

← DETWILER, ELIZABETH, CAMILLAOwnerCCO, ownership code NA, individual
Jan 25, 2017 to presentfactForm ADV
← HELLER, MICHAEL, JAYOwnerTRUSTEE, ownership code F, individual
Jan 25, 2017 to presentfactForm ADV

Controls (6)

← FORMAN, MICHAEL, CRAIGOwnerMANAGING MEMBER, ownership code D, individual
Jan 25, 2017 to presentfactForm ADV
← ADELMAN, DAVID, JASONOwnerMANAGING MEMBER OF THE GENERAL PARTNER, ownership code C, individual
Jan 25, 2017 to presentfactForm ADV
← DARCO CAPITAL, L.P.OwnerMEMBER, CLASS A, ownership code A, domestic entity
Apr 10, 2017 to presentfactForm ADV
← FRANKLIN SQUARE HOLDINGS, GPOwnerGENERAL PARTNER, ownership code F, domestic entity
Jan 25, 2017 to presentfactForm ADV
← FRANKLIN SQUARE HOLDINGS, LPOwnerMEMBER, CLASS C, ownership code E, domestic entity
Jan 25, 2017 to presentfactForm ADV
← THE 2011 FORMAN INVESTMENT TRUSTOwnerMEMBER, CLASS A, ownership code B, domestic entity
Jan 25, 2017 to presentfactForm ADV

Dated events

Occurred
Jan 25, 2017
First Form ADV filing
Fs Reit Advisor, Llc filed its initial SEC registration (Form ADV)
Form ADVobserved 4 days ago

Provenance

Graph: RIA / Wealth Management
Canonical id: dfx:ria:08c62934-2dd0-2eb9-b8e1-3b8065098b4e
First observed: Jan 25, 2017
Last observed: Apr 10, 2017 114 months ago
Source families: Federal regulator filings
3 registered feeds stand behind this record; each fact above carries its own dates and, where the publisher serves one, its document.
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.

FS REIT ADVISOR, LLC

FS REAL ESTATE ADVISOR, LLC, CRD 286672

PHILADELPHIA, PA

This is the graph view. The full profile, with its team, deals and sources, is on RIA / Wealth Management.Open the full profile →

Search this name across graphsid dfx:ria:08c62934-2dd0-2eb9-b8e1-3b8065098b4e

Data as of Apr 10, 2017 (this record's last observation) from federal regulator filings. Page built Sep 19, 2026, 11:30 AM UTC and rebuilt at most every 15 minutes.

Owner

Title

Ownership code

Control person

Acquired

First seen

Last seen

ADELMAN, DAVID, JASON

MANAGING MEMBER OF THE GENERAL PARTNER

yes

03/2007

Jan 25, 2017

Apr 10, 2017

ADELMAN, DAVID, JASON

Principal

yes

01/2017

Jan 25, 2017

Apr 10, 2017

ADELMAN, DAVID, JASON

Member

yes

01/2017

Jan 25, 2017

Apr 10, 2017

DARCO CAPITAL, L.P.

MEMBER, CLASS A

yes

01/2017

Apr 10, 2017

FORMAN, MICHAEL, CRAIG

CHAIRMAN AND CHIEF EXECUTIVE OFFICER

yes

01/2017

Jan 25, 2017

Apr 10, 2017

FORMAN, MICHAEL, CRAIG

MANAGING MEMBER

yes

01/2017

Jan 25, 2017

Apr 10, 2017

FRANKLIN SQUARE HOLDINGS, GP

GENERAL PARTNER

yes

01/2017

Jan 25, 2017

Apr 10, 2017

FRANKLIN SQUARE HOLDINGS, LP

MEMBER, CLASS C

yes

01/2017

Jan 25, 2017

Apr 10, 2017

THE 2011 FORMAN INVESTMENT TRUST

MEMBER, CLASS A

yes

01/2017

Jan 25, 2017

Apr 10, 2017

DETWILER, ELIZABETH, CAMILLA

Cco

01/2017

Jan 25, 2017

Apr 10, 2017

HELLER, MICHAEL, JAY

TRUSTEE - THE 2011 FORMAN INVESTMENT TRUST

01/2012

Jan 25, 2017

Apr 10, 2017

HELLER, MICHAEL, JAY

Trustee

01/2017

Jan 25, 2017

Apr 10, 2017

Related person

Type

Class on the graph

Its RAUM

Control

Common control

State

FSIC II ADVISOR, LLC

n/a

Former SEC adviser

$5.1B

yes

n/a

FS INVESTMENT ADVISOR, LLC

n/a

Former SEC adviser

$4.3B

yes

n/a

FB INCOME ADVISOR, LLC

n/a

Former SEC adviser

$4.1B

yes

n/a

FSIC III ADVISOR, LLC

n/a

Former SEC adviser

$3.8B

yes

n/a

FS GLOBAL ADVISOR, LLC

n/a

Asset manager

$3.0B

yes

n/a

FS FUND ADVISOR, LLC

n/a

Asset manager

$1.6B

yes

n/a

FSIC IV ADVISOR, LLC

n/a

Former SEC adviser

$376M

yes

n/a

FS ENERGY ADVISOR, LLC

n/a

Former SEC adviser

$46.0M

yes

n/a

FRANKLIN SQUARE HOLDINGS, L.P.

n/a

yes

n/a

FS INVESTMENT SOLUTIONS, LLC

n/a

yes

n/a

Fiscal year

Filed

RAUM

Discretionary

Employees

Advisory staff

Offices

Private funds

Fund GAV

2016

Mar 30, 2017

$200,000

143

n/a

Latest fiscal year

RAUM

A year earlier

1y change

Three years earlier

3y CAGR

Employees

A year earlier

Offices

A year earlier

2016

$200,000

n/a

143

n/a