DFX Intelligence
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Manager
S•••• A••••••• S•••••• ••• L••
What capital do they manage?
- Real estate GAV
- $2.3B GAV 2024sum of GAV over non-feeder, non-quarantined Real Estate Fund vehicles on the latest filing (a scale proxy, never fund size)
- Vehicles
- 4 current, 4 ever, 0 dropped0 feeders, 0 funds of funds
- First on the tape
- 2020the extract starts in 2011; an earlier history is not visible
- Latest filing
- Mar 28, 2024registered adviser
- Adviser RAUM
- $4.3Bthe whole adviser, all strategies; used for the quarantine test only
- Fund types on the latest filing
- Real Estate Fund 4
- Latest vintage
- 2023from a fund name year or the first ADV report after the adviser's first filing
What do they say they do?
stated by the manager
- Strategy
- Multi-strategy
- Operator model
- Hybridbasis: stated
- Property types
- Retail, Healthcare, Industrial, Multifamilybasis: stated
- Markets
- North America, Europe, Norway, Denmark, Poland, Nova Scotiabasis: stated
- Business kind (site)
- REAL_ESTATE_MANAGER
- AUM in its own words
- ••• Lockedthe manager's statement, not a DFX figure
In the manager’s own words
- Value add: “We invest in underperforming or overlooked essential real estate across North America and Europe, executing a focused buy-fix-sell strategy.”
- Opportunistic: “Opportunistic & Value Add”
- Core plus: “Our Core-Plus strategies target high-quality, income-producing essential real estate in North America and Europe, focusing on grocery-anchored retail, healthcare, and logistics assets that meet the everyday needs of communities.”
- Development: “Our in-house development team has a history of global development deals and works across all asset classes.”
- Debt: “S•••• Real Estate Capital (SREC) provides transitional capital and flexible liquidity to strong sponsors and assets across the commercial real estate industry”
- REIT sponsor: “We manage one publicly listed investment vehicle on the Toronto Stock Exchange (TSX) that owns and operates U.S. grocery-anchored real estate.”
- Retail: “focusing on grocery-anchored retail, healthcare, and logistics assets that meet the everyday needs of communities”
- Healthcare: “focusing on grocery-anchored retail, healthcare, and logistics assets that meet the everyday needs of communities”
- Industrial: “focusing on grocery-anchored retail, healthcare, and logistics assets that meet the everyday needs of communities”
- Multifamily: “Multifamily Development of the Year (Toronto) 2024 – Winner, J••••••• H••••”
- North America: “We invest in underperforming or overlooked essential real estate across North America and Europe, executing a focused buy-fix-sell strategy.”
- Europe: “We invest in underperforming or overlooked essential real estate across North America and Europe, executing a focused buy-fix-sell strategy.”
- Norway: “a state-of-the-art seafood logistics facility located along Norway's most important logistics corridor, offering excellent connectivity across air, road, rail, and sea networks”
- Denmark: “S•••• acquired a portfolio of five grocery-anchored assets in central C•••••••••, Denmark.”
- Poland: “Ares Management and S•••• Asset Management to Acquire Polish Real Estate Portfolio Valued at Over €300 Million From Trei Real Estate”
- Nova Scotia: “Bringing Jobs and More Clean Power to Nova Scotia”
Vehicles
4 on Form ADV
| Vehicle | Kind | GAV | Owners | Reported | Vintage | Lifecycle | Lifecycle | Name says | LPs |
|---|---|---|---|---|---|---|---|---|---|
| S•••• C••••••• R••• E••••• O••••••••• F••• I• L••• 805-9153001188 | master | $949M GAV 2024 | 31 | 2020* to 2024 | unknown | Investing | Opportunistic | ||
| S•••• R••• E••••• C•••••• L••• 805-2887983056 | master | $587M GAV 2024 | 25 | 2022 to 2024 | 2022 | Investing | |||
| S•••• E••••••• R••• E••••• F••• I•• 805-9990853297 | master | $579M GAV 2024 | 16 | 2020* to 2024 | unknown | Investing | |||
| S•••• N•••• A••••••• E•••••••• R••• E••••• I••••• F••• L••• 805-7736365938 | fund | $215M GAV 2024 | 2 | 2023 to 2024 | 2023 | Investing | Debt |
What do they actually own?
7 trusted of 10 candidate bindings
| Owner entity | Vehicle | Properties held | Loans | Evidence |
|---|---|---|---|---|
| T•• B•••••••• O•••• L•• FL, multifamily 10+ units | manager only | 2 assessed $25.2M | Corporate filing sunbiz_principal_address_hq_suite | |
| S••• 5• S•••••• L• FL, community shopping center, drive-in restaurant | manager only | 5 assessed $33.9M | Address and agent owner's tax-bill address is the manager's headquarters to the suite or floor | |
| S••• 5• F••••••• F•••• L• FL, community shopping center | manager only | 1 assessed $29.9M | Address and agent owner's tax-bill address is the manager's headquarters to the suite or floor | |
| S••• 5• C••••••••• L• FL, community shopping center | manager only | 1 assessed $13.7M | Address and agent owner's tax-bill address is the manager's headquarters to the suite or floor | |
| H••••• P•••• O•••• L•• FL, multifamily 10+ units | manager only | 1 assessed $79.3M | Address and agent owner's tax-bill address is the manager's headquarters to the suite or floor | |
| S••• 5• R•••• R•• L• FL, community shopping center | manager only | 1 assessed $20.2M | Address and agent mailing_hq_building_suited | |
| S••• 5• S••••••• L• FL, community shopping center | manager only | 1 assessed $13.9M | Address and agent mailing_hq_building_suited |
Properties the manager names on its site
- W•••• S•••••• C••••• ••••, Norway (industrial) “••• Locked”
- C••••••••• g••••••••• p••••••••, C•••••••••, Denmark (retail) “••• Locked”
- C•••••••• L••••••••, United States (industrial) “••• Locked”
- O•• D••••••, Toronto, ON (multifamily) “••• Locked”
- J••••••• H••••, Toronto, ON (multifamily) “••• Locked”
- S••••••••, Toronto, ON (industrial) “••• Locked”
What are they buying, selling and financing?
0 acquisitions, 0 sales, 0 financings in 12 months
No attributed events yet. An event reaches this page only through a validated holding binding.
Who finances them?
0 loans, 0 lender groups
No recorded loans through trusted holdings.
Who backs them?
0 allocators, 0 rows
No institutional LP disclosure resolved to this manager.
People
Form ADV Schedule A, latest filing
- B•••• W•••• Shareholder since 2019-08
- B•••• W•••• Shareholder since 2019-08
- R••••• A•• General Counsel since 2020-07
- R••••• A•••• J••••• A•••••••• Chief Operating Officer since 2022-01
- M•••••• M•••••••• S••••••• Chief Compliance Officer since 2023-07
What is changing?
- Vehicle first reported Mar 31, 2023 (observed) S•••• N•••• A••••••• E•••••••• R••• E••••• I••••• F••• L••• first reported on Form ADV by S•••• A••••••• S•••••• ••• L••, GAV $213,528,000
- Vehicle first reported Mar 31, 2022 (observed) S•••• R••• E••••• C•••••• L••• first reported on Form ADV by S•••• A••••••• S•••••• ••• L••, GAV $720,115,000
- Vehicle first reported Sep 2, 2020 (observed) S•••• C••••••• R••• E••••• O••••••••• F••• I• L••• first reported on Form ADV by S•••• A••••••• S•••••• ••• L••, GAV $226,673,866 (tape start: the fund may be older)
- Vehicle first reported Sep 2, 2020 (observed) S•••• E••••••• R••• E••••• F••• I•• first reported on Form ADV by S•••• A••••••• S•••••• ••• L••, GAV $409,948,068 (tape start: the fund may be older)
- First ADV filing on the tape Sep 2, 2020 (observed) S•••• A••••••• S•••••• ••• L•• first filed Form ADV in the extract (IA)
Across DFX
Bridged by shared CRD, CIK or SEC fund id only; the same institution’s PE portfolio companies and its real estate holdings stay on their own graphs.