DFX Intelligence
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X•••• A•••• M••••••••• L••
Development real estate managerSEC-registered adviserunder $1B· Dallas, Texas
Development real estate manager, based in Dallas, Texas, reporting $427M of real estate gross assets across 8 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
- $427M
- Current vehicles
- 8
- Properties held
- 1
- Institutional LPs
- Not established
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
As of · the latest Form ADV filing; property activity carries its own dates
Why this matters
- Graphs 1
Identifiers, size band and strategyCRD 305669 · SEC 801-118122ShowHide
What capital do they manage?
- Real estate GAV
- $427M GAV 2024sum of GAV over non-feeder, non-quarantined Real Estate Fund vehicles on the latest filing (a scale proxy, never fund size)
- Vehicles
- 8 current, 9 ever, 1 dropped0 feeders, 0 funds of funds
- First on the tape
- 2020the extract starts in 2011; an earlier history is not visible
- Latest filing
- Sep 26, 2024registered adviser
- Adviser RAUM
- $427Mthe whole adviser, all strategies; used for the quarantine test only
- Fund types on the latest filing
- Real Estate Fund 8
- Latest vintage
- 2022from 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
- Development
- Operator model
- Developerbasis: stated
- Property types
- Industrialbasis: stated
- Markets
- San Francisco Bay Area, CA, Inland Empire, CA, Greater Los Angeles, Dallas/Fort Worth, TX, Houston, TX, Chicago, IL, Indianapolis, IN, Nashville, TNbasis: stated
- Business kind (site)
- REAL_ESTATE_MANAGER
- Parent
- X•••• Holdings, LLC
In the manager’s own words
- Development: “X•••• is a privately-held real estate firm focused exclusively on providing real estate investment opportunities to institutional and private wealth investors through the acquisition, development and management of bulk logistics, infill/last-mile and light industrial properties located in top-tier markets in the U.S.”
- Value add: “Since inception, X•••• has acquired and developed, redeveloped or repositioned industrial and industrial logistics real estate projects totaling over 11.5 million square feet, including approximately 14.6 million square feet currently in various stages of development.”
- Industrial: “the acquisition, development and management of bulk logistics, infill/last-mile and light industrial properties located in top-tier markets in the U.S.”
- San Francisco Bay Area, CA: “San Francisco Bay Area, CA The San Francisco Bay Area, which includes Oakland and San Jose, is a vibrant, densely populated, high-income region that serves as the high-technology industry’s global capital.”
- Inland Empire, CA: “Inland Empire, CA The Inland Empire is a large region to the east of Los Angeles that includes Riverside and San Bernardino Counties.”
- Greater Los Angeles: “Greater Los Angeles The Greater Los Angeles area is the world’s 11th-largest economy with a regional GDP of nearly $1 trillion.”
- Dallas/Fort Worth, TX: “Dallas/Fort Worth, TX The metropolitan area of Dallas has the fifth-largest GDP and fourth-largest population in the United States.”
- Houston, TX: “Houston has the distinction of being both one of the largest cities in the U.S. and one of the most rapidly growing, driving demand for industrial properties because of the rapid growth of e-commerce and the dense population of the Houston region.”
- Chicago, IL: “Chicago is one of the largest industrial real estate markets in the country, with a powerful network of rail, airport and trucking intermodals with a strong interstate highway infrastructure linking markets nationwide, making it a highly desirable hub for logistics and transportation.”
- Indianapolis, IN: “With a population of about 2 million, the Indianapolis metropolitan area is the political, cultural and business capital of Indiana.”
- Nashville, TN: “Nashville’s increasing employment and population reveal an economy among the healthiest in the U.S.”
- Cincinnati, OH: “With more than 2 million residents, the Cincinnati metropolitan is the fastest growing economic region in the Midwestern United States and within one day’s drive of two-thirds of the United States populace, making it a critical center for logistics and distribution activity.”
- Louisville, KY: “The largest city in Kentucky, Louisville’s strategic location on the Ohio River and within one day’s drive of 60% of the cities in the contiguous U.S. has made it one of the country’s most important transit and shipping hubs.”
- Columbus, OH: “Columbus is home to the Rickenbacker Inland Port, a center for both national rail and worldwide air logistics.”
- Atlanta, GA: “Atlanta is the ninth-largest metropolitan area in the U.S. with a population of 5.8 million.”
- Central, FL: “Central Florida is one of the fastest-growing regions in the U.S, and a center for distribution within Florida.”
- Miami, FL: “The Miami market allows access to the Port Miami’s multimodal interconnectivity which provides a direct link to Miami’s interstate highway system and intermodal rail access that delivers goods to 70% of the US population within four days.”
- Charleston, SC: “Charleston has become one the county’s fastest growing industrial markets, in part because of the reshoring of manufacturing to the United States and South Carolina’s status as a right-to-work state.”
- Savannah, GA: “Savannah’s unique ambiance and transportation infrastructure make it an attractive place to live and do business.”
- Lehigh Valley, PA: “Eastern Pennsylvania is a vital distribution and logistics center for the Northeastern United States and the broader global economy and the Lehigh Valley is becoming a hub for ecommerce logistics on the east coast, with nearly 100 million people living within a 400-mile radius.”
- Greater New York/New Jersey: “The Greater New York market allows access to six airports, major expressways, railways and intermodal facilities, and the largest population center in the U.S.”
Vehicles
9 on Form ADV
| Vehicle | Kind | GAV | Owners | Reported | Vintage | Lifecycle | Name says | LPs |
|---|---|---|---|---|---|---|---|---|
| X•••• L•••••••• T••••• L• 805-3564636912 | fund | $215M GAV 2024 | 95 | 2020* to 2024 | unknown | Investing | ||
| S••••• L•••• R•••• F••• I• L•• 805-2117646483 | fund | $155M GAV 2024 | 64 | 2021 to 2024 | 2021 | Raising | ||
| P•••• X• O••••••••• F•••• L•• 805-1581124299 | fund | $23M GAV 2024 | 36 | 2022 to 2024 | 2022 | Deploying | Opportunistic | |
| 3••• M•••••• X• O••••••••• F•••• L•• 805-4002870746 | fund | $16M GAV 2024 | 50 | 2022 to 2024 | 2022 | Investing | Opportunistic | |
| 1•••• S••••• Q••• L•• 805-8647260676 | fund | $12M GAV 2024 | 28 | 2021 to 2024 | 2021 | Investing | ||
| L••••• G•••••••• X• C••••••••• F•••• L•• 805-1616676452 | co-investment | $3M GAV 2024 | 17 | 2020* to 2024 | unknown | Harvesting | ||
| L••••••• H•• C••••••••• H•••••••• L•• 805-8680901372 | co-investment | $2M GAV 2024 | 3 | 2021 to 2024 | 2021 | Investing | ||
| X•••• O••••••••• F••• I• L•• 805-6557970566 | fund | $960,242 GAV 2024 | 47 | 2020* to 2024 | unknown | Winding down | Opportunistic |
1 dropped, re-typed or historical vehicles
| Vehicle | Kind | GAV | Owners | Reported | Vintage | Lifecycle | Name says | LPs |
|---|---|---|---|---|---|---|---|---|
| L••••••• X•• L•• 805-4466510761, dropped 2021 | fund | $28M GAV 2020 | 45 | 2020* to 2020 | unknown | Dropped from ADV |
What do they actually own?
1 trusted of 4 candidate bindings
| Owner entity | Vehicle | Properties held | Loans | Evidence |
|---|---|---|---|---|
| W••••• X• L•• FL, warehouse, distribution | manager only | 1 assessed $17.8M | Corporate filing sunbiz_officer_person_is_manager |
Properties the manager names on its site
- M••••••, Los Angeles, CA (infill/last-mile) “••• Locked”
- B•••• A• 5•••, Vernon, CA (infill/last-mile) “••• 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
- R•••••• R•••••• K••••••• Owner since 2017-05
- J•• R••• S••• President since 2023-02
- A•••• K••• Chief Financial Officer, Chief Compliance Officer since 2023-09
What is changing?
- Vehicle first reported Mar 31, 2022 (observed) ••• Locked
- Vehicle first reported Mar 31, 2022 (observed) ••• Locked
- Vehicle first reported Nov 19, 2021 (observed) ••• Locked
- Vehicle first reported Mar 31, 2021 (observed) ••• Locked
- Vehicle dropped from ADV Mar 31, 2021 (observed) ••• Locked
- Vehicle first reported Mar 31, 2021 (observed) ••• Locked
- First ADV filing on the tape Jan 24, 2020 (observed) ••• Locked
- Vehicle first reported Jan 24, 2020 (observed) ••• Locked
- Vehicle first reported Jan 24, 2020 (observed) ••• Locked
- Vehicle first reported Jan 24, 2020 (observed) ••• Locked
- Vehicle first reported Jan 24, 2020 (observed) ••• Locked
Across DFX
Bridged 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.