DFX Intelligence
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V••••••• P••••••• V•
Value add real estate managerSEC-registered adviserunder $1B· Birmingham, Michigan
Value add real estate manager, based in Birmingham, Michigan, reporting $743M of real estate gross assets across 5 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
- $743M
- Current vehicles
- 5
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 300629 · SEC 801-114841ShowHide
What capital do they manage?
- Real estate GAV
- $743M GAV 2024sum of GAV over non-feeder, non-quarantined Real Estate Fund vehicles on the latest filing (a scale proxy, never fund size)
- Vehicles
- 5 current, 9 ever, 4 dropped4 feeders, 0 funds of funds
How the GAV is measured, and the filing detailShowHide
- First on the tape
- 2019the extract starts in 2011; an earlier history is not visible
- Latest filing
- Jul 15, 2024registered adviser
- Adviser RAUM
- $754Mthe whole adviser, all strategies; used for the quarantine test only
- Fund types on the latest filing
- Real Estate Fund 5
What do they say they do?
stated by the manager
- Strategy
- Value add
- Operator model
- Hybridbasis: stated
- Property types
- Senior housing, Multifamilybasis: stated
- Markets
- United Statesbasis: stated
- Business kind (site)
- Real estate manager
- AUM in its own words
- $750 million as of December 31, 2024the manager's statement, not a DFX figure
In the manager's own words6 quotesShowHide
- Value add: “Value Add Real Estate & REO”
- Debt: “Commercial Real Estate Loans”
- Distressed: “Performing, sub-performing and non-performing loans.”
- Senior housing: “Senior Housing”
- Multifamily: “Multi-Family”
- United States: “Since our founding in 1998, ValStone Partners has invested over $1 billion in real estate assets and real asset related debt located throughout the United States.”
Vehicles
9 on Form ADV
| Vehicle | Kind | GAV | Owners | Reported | Vintage | Lifecycle | Name says | LPs |
|---|---|---|---|---|---|---|---|---|
| V••••••• H••••••••• P••••••••• F•••• L••• 805-7494162867 | fund | $331M GAV 2024 | 14 | 2019* to 2024 | unknown | Harvesting | ||
| V••••••• O••••••••• F••• V• A••••• L•• 805-3632699717 | feeder | $251M GAV 2024 | 28 | 2019* to 2024 | unknown | Mature | Opportunistic | |
| V••••••• O••••••••• F••• V• A••••• L•• 805-1323880385 | feeder | $160M GAV 2024 | 22 | 2019* to 2024 | unknown | Harvesting | Opportunistic | |
| V••••••• O••••••••• F••• V• L•• 805-9328772177 | master | $2M GAV 2024 | 22 | 2019* to 2024 | unknown | Winding down | Opportunistic | |
| V••••••• O••••••••• F••• V•• L•• 805-2687382575 | master | $0 GAV 2024 | 28 | 2019* to 2024 | unknown | Winding down | Opportunistic |
4 dropped, re-typed or historical vehicles
| Vehicle | Kind | GAV | Owners | Reported | Vintage | Lifecycle | Name says | LPs |
|---|---|---|---|---|---|---|---|---|
| V••••••• O••••••••• F••• I• A••••• L•• 805-6453923074, dropped 2020 | feeder | $3M GAV 2019 | 54 | 2019* to 2019 | unknown | Dropped from ADV | Opportunistic | |
| V••••••• O••••••••• F••• I••••• L•• 805-5053808795, dropped 2020 | feeder | $1M GAV 2019 | 2 | 2019* to 2019 | unknown | Dropped from ADV | Opportunistic | |
| V••••••• O••••••••• F•••• L•• 805-6859303521, dropped 2020 | fund | $743,288 GAV 2019 | 3 | 2019* to 2019 | unknown | Dropped from ADV | Opportunistic | |
| G•••• V•••• F•••• L•• 805-5182900532, dropped 2020 | fund | $52,036 GAV 2019 | 5 | 2019* to 2019 | unknown | 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.
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
- E••• R•••••• A••• Member since 2016-09
- G••••• C•••••• T••••• M••••• • V••••••• P•••••• H•••••••• L•• since 2016-09
- D•••••• S•••• A••• Member since 2016-09
- L•••• E•••• J••••••• M•••••• S••• M••••• T••••••••• L•• since 2017-05
- K•••••••• V••••••• J••••••• S••• M••••• T••••••••• L•• since 2017-05
- G••••••• D•••• M••••• Chief Compliance Officer, Chief Financial Officer since 2021-01
What is changing?
- Vehicle dropped from ADV Mar 30, 2020 (observed) ••• Locked
- Vehicle dropped from ADV Mar 30, 2020 (observed) ••• Locked
- Vehicle dropped from ADV Mar 30, 2020 (observed) ••• Locked
- Vehicle dropped from ADV Mar 30, 2020 (observed) ••• Locked
- First ADV filing on the tape Feb 14, 2019 (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.