DFX Intelligence
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S•••••••• R••• E••••• M••••••••• C••••••• L•••
Opportunistic real estate managerSEC-registered adviser$1B to $5B· Chicago, Illinois
Opportunistic real estate manager, based in Chicago, Illinois, reporting $2.1B of real estate gross assets across 11 vehicles.
Composed from this manager's Form ADV filings and classification.
As of · the latest Form ADV filing; property activity carries its own dates
- Real estate GAV
- $2.1B
- Current vehicles
- 11
Form ADV, Schedule D, real estate vehicles summed
Form ADV, Schedule D 7.B.(1)
As of · the latest Form ADV filing; property activity carries its own dates
Nothing material in the last 365 days. No dated change on record yet.
Identifiers, size band and strategyCRD 168331 · SEC 801-79535ShowHide
What capital do they manage?
- Real estate GAV
- $2.1B GAV 2024sum of GAV over non-feeder, non-quarantined Real Estate Fund vehicles on the latest filing (a scale proxy, never fund size)
- Vehicles
- 11 current, 13 ever, 2 dropped2 feeders, 0 funds of funds
How the GAV is measured, and the filing detailShowHide
- First on the tape
- 2013the extract starts in 2011; an earlier history is not visible
- Latest filing
- May 2, 2024registered adviser
- Adviser RAUM
- $2.1Bthe whole adviser, all strategies; used for the quarantine test only
- Fund types on the latest filing
- Real Estate Fund 11
- Latest vintage
- 2023from a fund name year or the first ADV report after the adviser's first filing
What do they say they do?
confirmed
- Strategy
- Opportunistic
- Operator model
- Fund managerbasis: stated
- Property types
- Office, Industrial, Multifamily, Hotel, Retail, Life sciencebasis: stated
- Markets
- North America, top 30 U.S. metropolitan statistical areas, top 30 MSAsbasis: 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 words17 quotesShowHide
- Opportunistic: “Opportunistic investing in real estate debt and equity”
- Value add: “Return Profile: value-add to opportunistic”
- Debt: “Capital Structure: asset-level equity, debt, and mezzanine financing/preferred equity/hybrid, or real estate operating companies”
- Office: “Asset Classes: all traditional asset classes (office, industrial, multifamily, hotel, and retail), as well as specialty and emerging asset classes (life science, senior, self-storage, cold storage, single-family for rent, data centers and student housing, etc.)”
- Industrial: “Asset Classes: all traditional asset classes (office, industrial, multifamily, hotel, and retail), as well as specialty and emerging asset classes (life science, senior, self-storage, cold storage, single-family for rent, data centers and student housing, etc.)”
- Multifamily: “Asset Classes: all traditional asset classes (office, industrial, multifamily, hotel, and retail), as well as specialty and emerging asset classes (life science, senior, self-storage, cold storage, single-family for rent, data centers and student housing, etc.)”
- Hotel: “Asset Classes: all traditional asset classes (office, industrial, multifamily, hotel, and retail), as well as specialty and emerging asset classes (life science, senior, self-storage, cold storage, single-family for rent, data centers and student housing, etc.)”
- Retail: “Asset Classes: all traditional asset classes (office, industrial, multifamily, hotel, and retail), as well as specialty and emerging asset classes (life science, senior, self-storage, cold storage, single-family for rent, data centers and student housing, etc.)”
- Life science: “Asset Classes: all traditional asset classes (office, industrial, multifamily, hotel, and retail), as well as specialty and emerging asset classes (life science, senior, self-storage, cold storage, single-family for rent, data centers and student housing, etc.)”
- Senior housing: “Asset Classes: all traditional asset classes (office, industrial, multifamily, hotel, and retail), as well as specialty and emerging asset classes (life science, senior, self-storage, cold storage, single-family for rent, data centers and student housing, etc.)”
- Self storage: “Asset Classes: all traditional asset classes (office, industrial, multifamily, hotel, and retail), as well as specialty and emerging asset classes (life science, senior, self-storage, cold storage, single-family for rent, data centers and student housing, etc.)”
- Single-family rental: “Asset Classes: all traditional asset classes (office, industrial, multifamily, hotel, and retail), as well as specialty and emerging asset classes (life science, senior, self-storage, cold storage, single-family for rent, data centers and student housing, etc.)”
- Data center: “Asset Classes: all traditional asset classes (office, industrial, multifamily, hotel, and retail), as well as specialty and emerging asset classes (life science, senior, self-storage, cold storage, single-family for rent, data centers and student housing, etc.)”
- Student housing: “Asset Classes: all traditional asset classes (office, industrial, multifamily, hotel, and retail), as well as specialty and emerging asset classes (life science, senior, self-storage, cold storage, single-family for rent, data centers and student housing, etc.)”
- North America: “Geography: North America, with an emphasis on the top 30 U.S. metropolitan statistical areas; will consider investments in secondary and tertiary markets”
- top 30 U.S. metropolitan statistical areas: “Geography: North America, with an emphasis on the top 30 U.S. metropolitan statistical areas; will consider investments in secondary and tertiary markets”
- top 30 MSAs: “Direct investment experience in top 30 MSAs”
Vehicles
13 on Form ADV
| Vehicle | Kind | GAV | Owners | Reported | Vintage | Lifecycle | Name says | LPs |
|---|---|---|---|---|---|---|---|---|
| S•• O••••••••• F••• I•• L••• 805-9421974168 | fund | $994M GAV 2024 | 111 | 2021 to 2024 | 2021 | Raising | Opportunistic | |
| S•• O••••••••• F••• I••• L••• 805-2498626805 | fund | $667M GAV 2024 | 91 | 2018 to 2024 | 2018 | Harvesting | Opportunistic | |
| S•• O••••••••• F••• I•• L••• 805-2862360200 | fund | $240M GAV 2024 | 49 | 2015 to 2024 | 2015 | Harvesting | Opportunistic | |
| S•• O••••••••• F••• I• S•••••• L••• 805-4443661843 | fund | $47M GAV 2024 | 5 | 2022 to 2024 | 2022 | Raising | Opportunistic | |
| S•••••••• R••• E••••• O••••••••• F••• I• L••• 805-7980381974 | fund | $44M GAV 2024 | 44 | 2013* to 2024 | unknown | Harvesting | Opportunistic |
All 11 current vehiclesShow fewerlargest GAV first
| Vehicle | Kind | GAV | Owners | Reported | Vintage | Lifecycle | Name says | LPs |
|---|---|---|---|---|---|---|---|---|
| S•• O••••••••• F••• I•• S•••••• L••• 805-6073946256 | fund | $37M GAV 2024 | 3 | 2021 to 2024 | 2021 | Harvesting | Opportunistic | |
| S•• O••••••••• F••• I•••• L••• 805-1913328617 | feeder | $17M GAV 2024 | 23 | 2015 to 2024 | 2015 | Harvesting | Opportunistic | |
| S•••• I•• C•••••••• I• L••• 805-9046331796 | co-investment | $14M GAV 2024 | 5 | 2021 to 2024 | 2021 | Investing | ||
| S•• O••••••••• F••• I• C•••••••• I• L••• 805-2515442954 | co-investment | $11M GAV 2024 | 2 | 2023 to 2024 | 2023 | Investing | Opportunistic | |
| S•••• I•• C•••••••• I••• L••• 805-6064536609 | co-investment | $11M GAV 2024 | 3 | 2021 to 2024 | 2021 | Harvesting | ||
| S•••••••• R••• E••••• O••••••••• F••• I••• L••• 805-6955351968 | feeder | $881,990 GAV 2024 | 21 | 2013* to 2024 | unknown | Harvesting | Opportunistic |
2 dropped, re-typed or historical vehicles
| Vehicle | Kind | GAV | Owners | Reported | Vintage | Lifecycle | Name says | LPs |
|---|---|---|---|---|---|---|---|---|
| S•• O••••••••• F••• I• C•••••••• I•• L••• 805-6208416271, dropped 2022 | co-investment | $55,748 GAV 2021 | 3 | 2021 to 2021 | 2021 | Dropped from ADV | Opportunistic | |
| S•••• I•• C•••••••• I•• L••• 805-5331908603, dropped 2023 | co-investment | $20,000 GAV 2022 | 4 | 2021 to 2022 | 2021 | Dropped from ADV |
What do they actually own?
0 trusted of 0 candidate bindings
No validated holdings yet. Candidate bindings stay off this page until their rule passes the blind-label gate.
Properties the manager names on its site
- C••••••••• T•••• C•••••, C•••••••••, South Carolina (industrial land) “••• Locked”
- 1•••• W••••••••, 1•••• W••••••••, San Diego, California (life science / office) “••• Locked”
- R•••••• E••• H••••, Portland, Oregon (hotel) “••• Locked”
- C•••••••• M••••••••• P••••••••, Atlanta, Georgia (multifamily) “••• Locked”
- P••••••••• E•••, Raleigh, North Carolina (office) “••• Locked”
- D•••• H••••• b• M••••••• L•••, Kananaskis, Alberta, Canada (hotel (loan)) “••• Locked”
- S••••• G•••••• S••••• L••••• P••••••••, Lindon & St. George, Utah (senior housing) “••• Locked”
- O•••••• a• L•••••• C•••, L•••••• C•••, Oregon (retail) “••• Locked”
- I•• F•••••••• P•••••••• E•••••, Nationwide (diversified) “••• 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
- S••• W•••••• S•••••••• Sole Member since 2010-06
- C•••••• H••••• K•••••• Principal, Chief Financial Officer, Chief Operating Officer & Chief Compliance Officer since 2012-03
What is changing?
- Vehicle dropped from ADV Mar 31, 2023 (observed) ••• Locked
- Vehicle first reported Mar 31, 2023 (observed) ••• Locked
- Vehicle first reported Mar 30, 2022 (observed) ••• Locked
- Vehicle dropped from ADV Mar 30, 2022 (observed) ••• Locked
- Vehicle first reported Mar 31, 2021 (observed) ••• Locked
Full timeline · 16 eventsShow fewer
- Vehicle first reported Mar 31, 2021 (observed) ••• Locked
- Vehicle first reported Mar 31, 2021 (observed) ••• Locked
- Vehicle first reported Mar 31, 2021 (observed) ••• Locked
- Vehicle first reported Mar 31, 2021 (observed) ••• Locked
- Vehicle first reported Mar 31, 2021 (observed) ••• Locked
- Vehicle first reported Mar 29, 2018 (observed) ••• Locked
- Vehicle first reported Mar 27, 2015 (observed) ••• Locked
- Vehicle first reported Mar 27, 2015 (observed) ••• Locked
- Vehicle first reported Jun 21, 2013 (observed) ••• Locked
- Vehicle first reported Jun 21, 2013 (observed) ••• Locked
- First ADV filing on the tape Jun 21, 2013 (observed) ••• Locked
Across DFXHow records are bridgedBridged 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.
Not yet on record: properties held, institutional LPs.