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S••••••••• I••••••••• A••••••• L••

Value add real estate managerSEC-registered adviserunder $1B· San Francisco, California

Value add real estate manager, based in San Francisco, California, reporting $753M of real estate gross assets across 3 vehicles.

Composed from this manager's Form ADV filings and classification.

Real estate GAV
$753M
Form ADV, Schedule D, real estate vehicles summed
Current vehicles
3
Form ADV, Schedule D 7.B.(1)
Institutional LPs
3
Pension and endowment disclosures
Vehicles (3)LPs
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 328584 · SEC 801-129686Show
CRD 328584SEC 801-129686under $1BValue addForm ADV
What capital do they manage?
Real estate GAV
$753M GAV 2024sum of GAV over non-feeder, non-quarantined Real Estate Fund vehicles on the latest filing (a scale proxy, never fund size)
Vehicles
3 current, 3 ever, 0 dropped3 feeders, 0 funds of funds
How the GAV is measured, and the filing detailShow
First on the tape
2024the extract starts in 2011; an earlier history is not visible
Latest filing
Jul 12, 2024registered adviser
Adviser RAUM
$753Mthe whole adviser, all strategies; used for the quarantine test only
Fund types on the latest filing
Real Estate Fund 3
Latest vintage
2024from 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
Value add
Operator model
Hybridbasis: stated
Property types
Office, Mixed use, Multifamily, Retailbasis: stated
Markets
United Statesbasis: stated
Business kind (site)
Real estate manager
AUM in its own words
$20.3 Billion Assets Acquired since 1992the manager's statement, not a DFX figure
In the manager's own words8 quotesShow
  • Value add: “Focus on situations in which there are financial or operating issues that, when rectified, will create a stabilized investment with a durable income stream and broad appeal to institutional buyers.”
  • Development: “Acquire and develop properties that, by virtue of location, physical quality, amenities or other distinct features, can be positioned to offer sustainable and differentiated leasing advantages over their competition.”
  • Debt: “Investment Type Office Residential Retail Mixed-Use R&D, Flex Office Development Debt Investment”
  • Office: “bringing entrepreneurial vision to office and mixed-use properties in dynamic markets across the United States”
  • Mixed use: “office and mixed-use properties located in dynamic markets across the United States”
  • Multifamily: “Type: Residential Development Portfolio: Fund Eleven Units: 162”
  • Retail: “Investment Type Office Residential Retail Mixed-Use R&D, Flex Office Development Debt Investment”
  • United States: “bringing entrepreneurial vision to office and mixed-use properties in dynamic markets across the United States”
Vehicles
3 on Form ADV
VehicleKindGAVOwnersReportedVintageLifecycleName saysLPs
S••••••••• R••••• I•••••••• F••••••••• L•••
805-9754192700
feeder$404M GAV 2024312024 to 20242024Unknown
S••••••••• R••••• I•••••••• F••••••••• L•••
805-4616041588
feeder$238M GAV 2024242024 to 20242024Unknown1
S••••••••• R••••• I•••••••• F••••••••• L•••
805-7298459702
feeder$111M GAV 2024132024 to 20242024Unknown
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
  • 5•• A•••••••, 5•• A•••••••, Redwood City, CA (office) “••• Locked”
  • 1••• D•••••••••, 1••• D•••••••••, Nashville, TN (office) “••• Locked”
  • 9•• K•, 9•• K•, Washington, DC (office) “••• Locked”
  • 1••• M••••• S•••••, 1••• M••••• S•••••, Philadelphia, PA (office) “••• Locked”
  • 1••• B•••••••, 1••• B•••••••, New York, NY (office) “••• Locked”
  • 1••• M••••• S•••••, 1••• M••••• S•••••, Philadelphia, PA (office) “••• Locked”
  • 6•• C•••••• M•••, 6•• C•••••• M•••, Sacramento, CA (office) “••• Locked”
  • W•••••• P••••, Miami, FL (mixed-use, office & residential development) “••• 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?
3 allocators, 3 rows
  • C••••••••• F••• in S••••••••• R••••• I•••••••• N••• manager_brand$6,420 fair value, as of Jun 30, 2025 apps.irs.gov
  • T•• A••••• F••••• F•••• in S••••••••• R••••• I•••••••• X•• L• manager_brandno amount printed, as of Dec 31, 2024 apps.irs.gov
  • A••• W••••••• F••••••••• in S••••••••• R••••• I•••••••• F••••••• A• L••• exact_name$1.8M fair value, as of Dec 31, 2024 apps.irs.gov
People
Form ADV Schedule A, latest filing
  • B•••••• J••• S••••••••• Chairman And Chief Executive Officer since 2023-11
  • C•••••• W•••••• M•••• President And Chief Investments Officer since 2023-11
  • M••• E••••• P•••••• Executive Vice President Capital Formations since 2023-11
  • L••• D••• L••• Chief Compliance Officer since 2023-11
  • A•••• A•• D•••••• Chief Financial Officer since 2024-01
What is changing?
  • Vehicle first reported Jul 12, 2024 (observed) ••• Locked
  • Vehicle first reported Jul 12, 2024 (observed) ••• Locked
  • Vehicle first reported Jul 12, 2024 (observed) ••• Locked
  • First ADV filing on the tape Feb 14, 2024 (observed) ••• Locked
Across DFX

Not yet on record: properties held.