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I••••••••• R••• E••••• C•••••••••

Multi-strategy real estate managerNot current: last filed 2024SEC-registered adviser· Boston, Massachusetts

Multi-strategy real estate manager, based in Boston, Massachusetts.

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

Current vehicles
None
Form ADV, Schedule D 7.B.(1)
Properties held
47
Deeds, filings and the manager's own site, bound to its vehicles
Institutional LPs
4
Pension and endowment disclosures
Vehicles (6)HoldingsLPs
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 112332 · SEC 801-56643Show
CRD 112332SEC 801-56643unsizedMulti-strategyForm ADV
What capital do they manage?
Real estate GAV
no GAVsum of GAV over non-feeder, non-quarantined Real Estate Fund vehicles on the latest filing (a scale proxy, never fund size)
Vehicles
0 current, 6 ever, 1 dropped0 feeders, 0 funds of funds
How the GAV is measured, and the filing detailShow
First on the tape
2012the extract starts in 2011; an earlier history is not visible
Latest filing
Mar 29, 2024registered adviser
Adviser RAUM
$12Bthe whole adviser, all strategies; used for the quarantine test only
Fund types on the latest filing
none
Latest vintage
2013from 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
Fund managerbasis: default for fund filer
Property types
Healthcare, Hotel, Industrial, Office, Multifamily, Retailbasis: stated
Markets
East, Midwest, S••••, W•••, New Jersey, Boston, M•••achusettsbasis: stated
Business kind (site)
Real estate manager
AUM in its own words
$11.5 Billionthe manager's statement, not a DFX figure
In the manager's own words18 quotesShow
  • Core: “Fund strategies actively seek opportunities to invest in both Core and Core-Plus properties, as well as in Value-Add operating properties and development projects.”
  • Core plus: “Fund strategies actively seek opportunities to invest in both Core and Core-Plus properties, as well as in Value-Add operating properties and development projects.”
  • Value add: “Fund strategies actively seek opportunities to invest in both Core and Core-Plus properties, as well as in Value-Add operating properties and development projects.”
  • Development: “I••••••••• launched its 6th fund, a value-add investment vehicle, focused on regional investments in construction and development projects in New Jersey and contiguous states.”
  • Healthcare: “Filter by Asset Class All Healthcare Hotel Industrial Office Operating Company Residential Retail Senior Living”
  • Hotel: “Filter by Asset Class All Healthcare Hotel Industrial Office Operating Company Residential Retail Senior Living”
  • Industrial: “Filter by Asset Class All Healthcare Hotel Industrial Office Operating Company Residential Retail Senior Living”
  • Office: “Filter by Asset Class All Healthcare Hotel Industrial Office Operating Company Residential Retail Senior Living”
  • Multifamily: “Filter by Asset Class All Healthcare Hotel Industrial Office Operating Company Residential Retail Senior Living”
  • Retail: “Filter by Asset Class All Healthcare Hotel Industrial Office Operating Company Residential Retail Senior Living”
  • Senior housing: “Filter by Asset Class All Healthcare Hotel Industrial Office Operating Company Residential Retail Senior Living”
  • Mixed use: “S•••• S••••••• is a joint venture development for a mixed-use building with 214 apartment homes, including 37 income-based units, and 20,000 square feet of ground floor retail and restaurant space at the intersection of Old Colony Avenue and Dorchester S••••• in Boston, M•••achusetts.”
  • East: “Filter by Region All East Midwest S•••• W•••”
  • Midwest: “Filter by Region All East Midwest S•••• W•••”
  • S••••: “Filter by Region All East Midwest S•••• W•••”
  • W•••: “Filter by Region All East Midwest S•••• W•••”
  • New Jersey: “I••••••••• launched its 6th fund, a value-add investment vehicle, focused on regional investments in construction and development projects in New Jersey and contiguous states.”
  • Boston, M•••achusetts: “S•••• S••••••• is a joint venture development for a mixed-use building with 214 apartment homes, including 37 income-based units, and 20,000 square feet of ground floor retail and restaurant space at the intersection of Old Colony Avenue and Dorchester S••••• in Boston, M•••achusetts.”
Vehicles
6 on Form ADV
No vehicles match.
6 dropped, re-typed or historical vehicles
VehicleKindGAVOwnersReportedVintageLifecycleName saysLPs
U••• R••• E••••• I••••••••• F•••• L••
805-3879264398
fund$4.8B GAV 20161922012* to 2016unknownDeploying
I••••••••• B•••• R••• E••••• I••••••••• F•••• L••
805-5947357587
fund$440M GAV 201662012* to 2016unknownInvesting
I••••••••• R••• E••••• I••••••••• F••• I••• L••
805-6250179574
fund$222M GAV 2016732012* to 2016unknownHarvesting
I••••••••• R••• E••••• I••••••••• F••• I• L••
805-6087789319
fund$21M GAV 2016272012* to 2016unknownInvesting
I••••••••• R••• E••••• I••••••••• F••• I•• L••
805-6913461854
fund$4M GAV 2016412012* to 2016unknownWinding down
I••••••••• R••• E••••• I••••••••• F••• I•• L••
805-9200157357, dropped 2015
fund$0 GAV 2014282013 to 20142013Dropped from ADV
What do they actually own?
8 trusted of 19 candidate bindings
Owner entityVehicleProperties heldLoansEvidence
U• R••• 1•• C•••••••• S•••••
MA, office cls a-
manager only2 assessed $238MManager disclosure
the manager's own website names the property, and the recorder shows this entity at that address today
C•••• W•• F•••••• L••
FL, warehouse, distribution
manager only1 assessed $71.6MCorporate filing
sunbiz officer person is manager
Y••• 5• M• O•••• L••
MA, commercial land, warehouse /distrib
manager only5 assessed $44.3MName only
owner's tax-bill address is the manager's headquarters building
C••••••••• L•• P•••••••••
MA
manager only2 assessed $40.7MManager disclosure
the manager's own website names the property, and the recorder shows this entity at that address today
M••••• 4• L•••••• P•••••••••
MA
manager only1 assessed $19.8MManager disclosure
the manager's own website names the property, and the recorder shows this entity at that address today
2• H••••••• A•••• L••
MA
manager only1 assessed $9.8MManager disclosure
the manager's own website names the property, and the recorder shows this entity at that address today
F••• R•••• R• L•• M••• L••
MA, residential condo
manager only34 assessed $5.5MManager disclosure
the manager's own website names the property, and the recorder shows this entity at that address today
S••••••• F•••• E•••••••••
MA, office 3-9 story
manager only1 assessed $4.0MManager disclosure
the manager's own website names the property, and the recorder shows this entity at that address today
Properties the manager names on its site
  • S•••• S•••••••, intersection of Old Colony Avenue and Dorchester S•••••, Boston, MA (mixed_use) “••• Locked”
  • 1• C••••••• P•••, Buckeye, AZ “••• Locked”
  • 1•• B••••, S•••• Elgin, IL “••• Locked”
  • 1•• C•••••••• S•••••, 1•• C•••••••• S•••••, Boston, MA “••• Locked”
  • 1••• M••• A••, 1••• M••• A••, C••••••••, MA “••• Locked”
  • 1••• W••• F•••••, 1••• W••• F•••••, Chicago, IL “••• Locked”
  • 1••• B•••••••, 1••• B•••••••, Nashville, TN (multifamily) “••• Locked”
  • 1••• S••••••• F•••• R•••, 1••• S••••••• F•••• R•••, Boston, MA “••• Locked”
  • 1••• M••• A••, 1••• M••• A••, C••••••••, MA “••• Locked”
  • 1• C•••••, 1• C•••••, Pine Brook, NJ “••• Locked”
  • 2••• N•••• G•••••••••, 2••• N•••• G•••••••••, Richardson, TX “••• Locked”
  • 2••• O••••••, 2••• O••••••, San Jose, CA “••• 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
  • cmbs_trust steady5 loans, $211M, Dec 22, 2021 to May 12, 2022
Who backs them?
4 allocators, 9 rows
  • H•••• U•••• a•• H•••• I••••••• o• H••••• P•••••• P••• in U• R••• E••••• I••••••••• F••• manager_name$23.0M fair value, as of Jul 31, 2025 askebsa.dol.gov
  • S••••••• I••••••••• P•••••• F••• in U• R••• E••••• I••••••••• F••• manager_name$14.4M fair value, as of Dec 31, 2024 askebsa.dol.gov
  • A•••••• I••••••••• L•••• ••• P•••••• P••• in U• R••• E••••• I••••••••• F••• manager_name$4.7M fair value, as of Dec 31, 2024 askebsa.dol.gov
  • H•••• U•••• a•• H•••• I••••••• o• H••••• P•••••• P••• in U• R••• E••••• I••••••••• F••• manager_name$24.4M fair value, as of Jul 31, 2024 askebsa.dol.gov
  • A•••••• I••••••••• L•••• ••• P•••••• P••• in U• R••• E••••• I••••••••• F••• manager_name$5.0M fair value, as of Dec 31, 2023 askebsa.dol.gov
All 9 commitments
  • H•••• U•••• a•• H•••• I••••••• o• H••••• P•••••• P••• in U• R••• E••••• I••••••••• F••• manager_name$27.5M fair value, as of Jul 31, 2023 askebsa.dol.gov
  • T•• D•••••••• M•••••• I•• a•• L•••• 6•• V••••••• A•••••• P••• in U• R••• E••••• I••••••••• F••• L•• manager_name$505,873 fair value, as of Dec 31, 2022 askebsa.dol.gov
  • S••••••• I••••••••• P•••••• F••• in U• R••• E••••• I••••••••• F••• manager_name$18.6M fair value, as of Dec 31, 2022 askebsa.dol.gov
  • A•••••• I••••••••• L•••• ••• P•••••• P••• in U• R••• E••••• I••••••••• F••• manager_name$6.1M fair value, as of Dec 31, 2022 askebsa.dol.gov
People
Form ADV Schedule A, latest filing
  • P•••• P••••••••• Chairman, Chief Executive Officer, Director And Stockholder since 1993-05
  • P••• J••••• N••••• President since 2000-07
  • T••••• R•••••• T•••••• Chief Investment Officer, Director since 2006-08
  • G•••••• T•• H•• L•• Trustee since 2012-03
  • K•••••• E••••• B•••• Chief Compliance Officer since 2014-07
  • L••• P••••••••• Trustee since 2021-01
  • D•••• S•••• C•••••• Chief Financial Officer since 2022-09
What is changing?
  • Vehicle dropped from ADV Mar 30, 2015 (observed) ••• Locked
  • Vehicle first reported Apr 1, 2013 (observed) ••• Locked
  • Vehicle first reported Mar 30, 2012 (observed) ••• Locked
  • Vehicle first reported Mar 30, 2012 (observed) ••• Locked
  • First ADV filing on the tape Mar 30, 2012 (observed) ••• Locked
Full timeline · 8 events
  • Vehicle first reported Mar 30, 2012 (observed) ••• Locked
  • Vehicle first reported Mar 30, 2012 (observed) ••• Locked
  • Vehicle first reported Mar 30, 2012 (observed) ••• Locked
Across DFX

Not yet on record: last reported GAV.