DFX Intelligence
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B••• V•••• C••••••• L••
Multi-strategy real estate managerSEC-registered adviser$1B to $5B· Chicago, Illinois
Multi-strategy real estate manager, based in Chicago, Illinois, reporting $1.9B of real estate gross assets across 22 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
- $1.9B
- Current vehicles
- 22
- Properties held
- 2
- Institutional LPs
- 1
Form ADV, Schedule D, real estate vehicles summed
Form ADV, Schedule D 7.B.(1)
Deeds, filings and the manager's own site, bound to its vehicles
Pension and endowment disclosures
As of · the latest Form ADV filing; property activity carries its own dates
Why this matters
- Acquisitions, 12 months 1Dispositions, 12 months 0Financings, 12 months 0
- Institutional LPs 1
- Graphs 2
Identifiers, size band and strategyCRD 127001 · SEC 801-74382ShowHide
What capital do they manage?
- Real estate GAV
- $1.9B GAV 2024sum of GAV over non-feeder, non-quarantined Real Estate Fund vehicles on the latest filing (a scale proxy, never fund size)
- Vehicles
- 22 current, 31 ever, 7 dropped3 feeders, 0 funds of funds
- First on the tape
- 2012the extract starts in 2011; an earlier history is not visible
- Latest filing
- Oct 24, 2024registered adviser
- Adviser RAUM
- $2.5Bthe whole adviser, all strategies; used for the quarantine test only
- Fund types on the latest filing
- Real Estate Fund 23
- 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
- Multi-strategy
- Operator model
- Hybridbasis: stated
- Property types
- Student housingbasis: stated
- Markets
- United States, Canadabasis: 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
- Debt: “Offering flexible debt capital to middle market real estate property owners and operators.”
- Value add: “The platform offers investors creative first mortgage bridge lending solutions to enable real estate owners to re-position and optimize the value of their properties.”
- Student housing: “Investment Strategies Student Housing”
- United States: “B••• V•••• invests in commercial real estate properties in the U.S. and Canada”
- Canada: “B••• V•••• invests in commercial real estate properties in the U.S. and Canada”
Vehicles
31 on Form ADV
| Vehicle | Kind | GAV | Owners | Reported | Vintage | Lifecycle | Name says | LPs |
|---|---|---|---|---|---|---|---|---|
| B••• V•••• R••• E••••• P••••••• V• L••• 805-9820680672 | fund | $442M GAV 2024 | 115 | 2019 to 2024 | 2019 | Harvesting | Opportunistic | |
| B••• V•••• S•••••• H•••••• S••••• S••••••••• F•••• L••• 805-9061727868 | fund | $263M GAV 2024 | 10 | 2016 to 2024 | 2016 | Mature | ||
| U•• C•••••• A••••••••• L•• 805-5604920383 | fund | $199M GAV 2024 | 2 | 2018 to 2024 | 2018 | Mature | ||
| B••• V•••• R••• E••••• P••••••• I•• L••• 805-5077998742 | fund | $183M GAV 2024 | 66 | 2016 to 2024 | 2016 | Harvesting | Opportunistic | |
| B••• A••••••• A••••••••• G•••• I•• L•• 805-3921013692 | fund | $133M GAV 2024 | 2 | 2014 to 2024 | 2014 | Harvesting | ||
| B••• V•••• R••• E••••• P••••••• V••• L•• 805-7499152372 | feeder | $88M GAV 2024 | 115 | 2024 to 2024 | 2024 | Unknown | Opportunistic | |
| B••• V•••• F••••••• L••• 805-5640975781 | fund | $80M GAV 2024 | 3 | 2016 to 2024 | 2016 | Harvesting | ||
| B••• V•••• R••• E••••• P••••••• V• •••• L••• 805-3070055923 | fund | $75M GAV 2024 | 22 | 2024 to 2024 | 2024 | Unknown | Opportunistic | |
| B••• V•••• R••• E••••• P••••••• V•• L••• 805-2683506601 | fund | $75M GAV 2024 | 22 | 2024 to 2024 | 2024 | Unknown | Opportunistic | |
| B••• V•••• C••• S••••• F•••• L• 805-6918713560 | fund | $64M GAV 2024 | 1 | 2023 to 2024 | 2023 | Deploying | ||
| B••• V•••• S•••••• H•••••• F••• I••• L••• 805-2197855000 | fund | $64M GAV 2024 | 5 | 2021 to 2024 | 2021 | Investing | ||
| B•••••• B••••• C••• L••• 805-6433016612 | fund | $55M GAV 2024 | 2 | 2019 to 2024 | 2019 | Mature | ||
| A• O• G••••••••• L•• 805-5057967763 | fund | $39M GAV 2024 | 40 | 2022 to 2024 | 2022 | Investing | ||
| B••• V•••• S•••••• H•••••• F••• I••••• L•• 805-6119448910 | feeder | $37M GAV 2024 | 5 | 2024 to 2024 | 2024 | Unknown | ||
| B••• V•••• R••• E••••• P••••••• I• •••• L••• 805-1582164893 | fund | $26M GAV 2024 | 66 | 2024 to 2024 | 2024 | Unknown | Opportunistic | |
| B•••••• P• M•••••• L• 805-7068127595 | fund | $26M GAV 2024 | 3 | 2024 to 2024 | 2024 | Unknown | ||
| B•••••• S•••••• C••• L••• 805-3386610388 | fund | $21M GAV 2024 | 2 | 2021 to 2024 | 2021 | Investing | ||
| B••• V•••• R••• E••••• P••••••• V• •••• L••• 805-1034136345 | fund | $15M GAV 2024 | 115 | 2024 to 2024 | 2024 | Unknown | Opportunistic | |
| B••• V•••• A••••••••• F•••• L••• 805-5226866481 | fund | $12M GAV 2024 | 7 | 2024 to 2024 | 2024 | Unknown | ||
| B• M••••• O• G••••••••• L•• 805-7412855802 | fund | $1M GAV 2024 | 2 | 2024 to 2024 | 2024 | Unknown | ||
| B••• V•••• S•••••• E••••• F••• I••• L••• 805-2582228241 | fund | $825,076 GAV 2024 | 15 | 2014 to 2024 | 2014 | Winding down | ||
| B••• V•••• S•••••• E••••• F••• I•• •••• L••• 805-2989328680 | fund | $214,850 GAV 2024 | 3 | 2013 to 2024 | 2013 | Winding down |
9 dropped, re-typed or historical vehicles
| Vehicle | Kind | GAV | Owners | Reported | Vintage | Lifecycle | Name says | LPs |
|---|---|---|---|---|---|---|---|---|
| B••• V•••• S•••••• E••••• F••• I••• L•• 805-1862933936, dropped 2014 | fund | $49M GAV 2013 | 9 | 2012* to 2013 | unknown | Dropped from ADV | ||
| B••• V•••• S•••••• E••••• F••• I•• L•• 805-1867698145, dropped 2022 | fund | $414,549 GAV 2021 | 23 | 2012* to 2021 | unknown | Dropped from ADV | ||
| B••• V•••• S•••••• E••••• F•••• L•• 805-6162673414 | fund | $209,574 GAV 2015 | 32 | 2012* to 2015 | unknown | Winding down | ||
| B••• A••••••• A••••••••• G••••• L•• 805-1167693021, dropped 2022 | fund | $131,685 GAV 2021 | 2 | 2014 to 2021 | 2014 | Dropped from ADV | ||
| B•••••• S••••••• C••• L• 805-4406760746 | fund | $68,669 GAV 2023 | 2 | 2019 to 2023 | 2019 | Winding down | ||
| B••• V•••• S•••••• E••••• F••• I•• O•••••••• L••• 805-2342701437, dropped 2024 | feeder | $59,653 GAV 2024 | 3 | 2013 to 2024 | 2013 | Dropped from ADV | ||
| B•••• I• P•• R•••• L•• 805-1195591363, dropped 2022 | REIT | $38,936 GAV 2021 | 8 | 2013 to 2021 | 2013 | Dropped from ADV | REIT sponsor | |
| B•••• I• P•• N•••••••• L•• 805-1928358807, dropped 2022 | REIT | $38,936 GAV 2021 | 1 | 2013 to 2021 | 2013 | Dropped from ADV | REIT sponsor | |
| B•••••• R•••••• C••• L• 805-9584502712, dropped 2021 | fund | $0 GAV 2020 | 2 | 2019 to 2020 | 2019 | Dropped from ADV |
What do they actually own?
2 trusted of 12 candidate bindings
| Owner entity | Vehicle | Properties held | Loans | Evidence |
|---|---|---|---|---|
| B•••• R••••• O•••• L•• FL, warehouse, distribution | manager only | 1 assessed $20.2M | Corporate filing sunbiz_principal_address_hq_suite | |
| N••••• S• A••••••••• L•• FL, warehouse, distribution | manager only | 1 assessed $10.1M | Corporate filing sunbiz_principal_address_hq_suite_only |
What are they buying, selling and financing?
1 acquisitions, 0 sales, 0 financings in 12 months
- AcquisitionFeb 1, 2026$10.8M828 33RD ST, Ruskin FL (warehouse, distribution) through B•••• R••••• O•••• L••Public records search.sunbiz.org
Who finances them?
0 loans, 0 lender groups
No recorded loans through trusted holdings.
Who backs them?
1 allocators, 2 rows
- W•••••• F••••••••• in B••• V•••• R••• E••••• P••••••• I• ••••••••• L• manager_brand$810,523 fair value, as of Dec 31, 2024 apps.irs.gov
- W•••••• F••••••••• in B••• V•••• R••• E••••• P••••••• V• ••••••••• L• manager_brand$3.9M fair value, as of Dec 31, 2024 apps.irs.gov
People
Form ADV Schedule A, latest filing
- R••••• G••••• B•••• Trustee since 1998-03
- P•••• S•••••• Trustee since 1998-03
- P•••• S•••••• Managing Principal, Ceo And Cco since 2003-03
What is changing?
- Vehicle first reported Oct 24, 2024 (observed) ••• Locked
- Vehicle first reported Oct 24, 2024 (observed) ••• Locked
- Vehicle first reported Oct 24, 2024 (observed) ••• Locked
- Vehicle first reported Oct 24, 2024 (observed) ••• Locked
- Vehicle first reported Oct 24, 2024 (observed) ••• Locked
- Vehicle first reported Oct 24, 2024 (observed) ••• Locked
- Vehicle first reported Oct 24, 2024 (observed) ••• Locked
- Vehicle first reported Mar 29, 2024 (observed) ••• Locked
- Vehicle dropped from ADV Mar 29, 2024 (observed) ••• Locked
- Vehicle first reported Mar 29, 2024 (observed) ••• Locked
- Vehicle first reported Apr 27, 2023 (observed) ••• Locked
- Vehicle dropped from ADV Mar 31, 2022 (observed) ••• Locked
- Vehicle dropped from ADV Mar 31, 2022 (observed) ••• Locked
- Vehicle dropped from ADV Mar 31, 2022 (observed) ••• Locked
- Vehicle dropped from ADV Mar 31, 2022 (observed) ••• Locked
- Vehicle first reported Mar 31, 2022 (observed) ••• Locked
- Vehicle first reported Mar 30, 2021 (observed) ••• Locked
- Vehicle first reported Mar 30, 2021 (observed) ••• Locked
- Vehicle dropped from ADV Mar 30, 2021 (observed) ••• Locked
- Vehicle first reported Apr 26, 2019 (observed) ••• Locked
- Vehicle first reported Apr 26, 2019 (observed) ••• Locked
- Vehicle first reported Apr 26, 2019 (observed) ••• Locked
- Vehicle first reported Apr 26, 2019 (observed) ••• Locked
- Vehicle first reported Mar 30, 2018 (observed) ••• Locked
- Vehicle first reported Dec 22, 2016 (observed) ••• Locked
- Vehicle first reported Dec 22, 2016 (observed) ••• Locked
- Vehicle first reported Dec 22, 2016 (observed) ••• Locked
- Vehicle first reported Mar 31, 2014 (observed) ••• Locked
- Vehicle dropped from ADV Mar 31, 2014 (observed) ••• Locked
- Vehicle first reported Mar 31, 2014 (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.