DFX Intelligence
Real Estate Fund Intelligence
The manager graph behind U.S. private real estate capital. Which vehicles a manager swears to, what each reports year by year, what the manager says it does, and, where the evidence holds, which owner entities, properties, loans, lenders and pensions stand behind it. GAV is gross asset value on a filing date, never fund size, and every manager-to-property link carries its evidence class.
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Manager
B••••••••• R••• E••••• A••••••• V• L•••
What capital do they manage?
- Real estate GAV
- $292M GAV 2024sum of GAV over non-feeder, non-quarantined R••• E••••• Fund vehicles on the latest filing (a scale proxy, never fund size)
- Vehicles
- 4 current, 4 ever, 0 dropped0 feeders, 0 funds of funds
- First on the tape
- 2011the extract starts in 2011; an earlier history is not visible
- Latest filing
- Mar 28, 2024registered adviser
- Adviser RAUM
- $292Mthe whole adviser, all strategies; used for the quarantine test only
- Fund types on the latest filing
- Real Estate Fund 4
What do they say they do?
stated by the manager
- Strategy
- Multi-strategy
- Operator model
- Hybridbasis: stated
- Property types
- Industrial, Multifamily, Office, Life science, Retail, Data centerbasis: stated
- Markets
- North America, Europe, Asia, Worldwide, Hawaiibasis: stated
- Business kind (site)
- REAL_ESTATE_MANAGER
- AUM in its own words
- $1.3 trillion in AUM (firm-wide); $314B Investor Capital Under Management for R••• E•••••the manager's statement, not a DFX figure
- Parent
- B••••••••• Inc.
In the manager’s own words
- Opportunistic: “Our opportunistic real estate strategy targets undermanaged, high-quality assets in attractive markets globally.”
- Core plus: “Our Core+ business features stabilized real estate with a long investment horizon and moderate leverage, where we can unlock additional value through focused asset management.”
- Debt: “Our real estate debt business provides creative and comprehensive financing solutions across the capital structure and risk spectrum. We originate loans and invest in debt securities underpinned by high-quality real estate.”
- Industrial: “Our institutional North America, Europe and Asia Core+ strategies focus on logistics, residential, office, life science office and retail assets in global gateway cities.”
- Multifamily: “Our institutional North America, Europe and Asia Core+ strategies focus on logistics, residential, office, life science office and retail assets in global gateway cities.”
- Office: “Our institutional North America, Europe and Asia Core+ strategies focus on logistics, residential, office, life science office and retail assets in global gateway cities.”
- Life science: “Our institutional North America, Europe and Asia Core+ strategies focus on logistics, residential, office, life science office and retail assets in global gateway cities.”
- Retail: “Our institutional North America, Europe and Asia Core+ strategies focus on logistics, residential, office, life science office and retail assets in global gateway cities.”
- Data center: “B••••••••• is the largest data center provider in the world.”
- North America: “Our institutional North America, Europe and Asia Core+ strategies focus on logistics, residential, office, life science office and retail assets in global gateway cities.”
- Europe: “Our institutional North America, Europe and Asia Core+ strategies focus on logistics, residential, office, life science office and retail assets in global gateway cities.”
- Asia: “Our institutional North America, Europe and Asia Core+ strategies focus on logistics, residential, office, life science office and retail assets in global gateway cities.”
- Worldwide: “Our opportunistic business seeks to acquire undermanaged, well-located assets across the world.”
- Hawaii: “A•••••••• • B•••••• is an iconic 150-year-old business and the largest owner of neighborhood grocery-anchored shopping centers in the state of Hawai’i.”
Vehicles
4 on Form ADV
| Vehicle | Kind | GAV | Owners | Reported | Vintage | Lifecycle | Lifecycle | Name says | LPs |
|---|---|---|---|---|---|---|---|---|---|
| B••••••••• R••• E••••• P••••••• V• L••• 805-4831335846 | fund | $129M GAV 2024 | 213 | 2012* to 2024 | unknown | Winding down | Opportunistic | 7 | |
| B••••••••• R••• E••••• P••••••• V• T••• L••• 805-8908449692 | fund | $91M GAV 2024 | 213 | 2012* to 2024 | unknown | Winding down | Opportunistic | ||
| B••••••••• R••• E••••• P••••••• V• T••• L••• 805-6410434943 | fund | $36M GAV 2024 | 213 | 2012* to 2024 | unknown | Winding down | Opportunistic | ||
| B••••••••• R••• E••••• P••••••• V• F• L••• 805-3847743740 | fund | $36M GAV 2024 | 213 | 2012* to 2024 | unknown | Winding down | Opportunistic |
What do they actually own?
2 trusted of 13 candidate bindings
| Owner entity | Vehicle | Properties held | Loans | Evidence |
|---|---|---|---|---|
| S•••••••• E•••••••• O•••• I• L• FL, stores one story, vacant commercial | manager only | 7 assessed $8.9M | Name only owner's tax-bill address is the manager's headquarters building | |
| B•• B•••••• O•••• I•• L•• FL, warehouse, distribution | manager only | 3 assessed $134M | Name only owner's tax-bill address is the manager's headquarters building |
Properties the manager names on its site
- A•••••••• • B••••••, Hawaii (retail) “A•••••••• • B•••••• is an iconic 150-year-old business and the largest owner of neighborhood grocery-anchored shopping centers in the state of Hawai’i.”
- L••• L•••••••• (industrial) “A leading owner of last-mile logistics real estate, L••• L•••••••• is harnessing data from its 3,000 properties and 7,000+ customers to equip employees with real-time insights that drive faster decisions and greater efficiency.”
What are they buying, selling and financing?
1 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?
7 allocators, 7 rows
- M•••••••• S•••• B•••• o• I••••••••• in B••••••••• R••• E••••• P••••••• V• exact_name$100M committed, as of Jun 30, 2026 msbi.us
- C••••••••• F••• in B••••••••• R••• E••••• P••••••• V• exact_name$5,054 fair value, as of Jun 30, 2025 apps.irs.gov
- N•• Y••• S•••• C••••• R••••••••• F••• in B••••••••• R••• E••••• P••••••• V• exact_name$484,428 fair value, as of Mar 31, 2025 osc.ny.gov
- J••• R• O••••• F••••••••• in B••••••••• R••• E••••• P••••••• V• exact_name$5,896 fair value, as of Dec 31, 2024 apps.irs.gov
- M•• M• • M••••••• S• F••••• F••••••••• I•• in B••••••••• R••• E••••• P••••••• V• exact_name$3,680 fair value, as of Dec 31, 2024 apps.irs.gov
- H••••• F••••••••• I•• in B••••••••• R••• E••••• V• stem_sequence$5,787 fair value, as of Dec 31, 2024 apps.irs.gov
- W•••••• R••••••• H••••• F••••••••• in B••••••••• R••• E••••• V• stem_sequence$12,608 fair value, as of Dec 31, 2024 apps.irs.gov
People
Form ADV Schedule A, latest filing
- P••• D••••• Q•••••• R••• E••••• Chief Financial Officer since 2015-01
- F••••• M•••• K•••• Global R••• E••••• General Counsel since 2017-01 also on pe
- K••••••• T• M••••••••• Global Co-Head Of R••• E••••• since 2018-02
- M•••••••• K••• R•••• Chief Compliance Officer since 2021-01
- N••••• N•• M••••• Global Co-Head Of R••• E••••• since 2024-01
What is changing?
- Vehicle first reported Mar 30, 2012 (observed) B••••••••• R••• E••••• P••••••• V• T••• L••• first reported on Form ADV by B••••••••• R••• E••••• A••••••• V• L•••, GAV $2,218,525,000 (tape start: the fund may be older)
- Vehicle first reported Mar 30, 2012 (observed) B••••••••• R••• E••••• P••••••• V• F• L••• first reported on Form ADV by B••••••••• R••• E••••• A••••••• V• L•••, GAV $606,562,000 (tape start: the fund may be older)
- Vehicle first reported Mar 30, 2012 (observed) B••••••••• R••• E••••• P••••••• V• L••• first reported on Form ADV by B••••••••• R••• E••••• A••••••• V• L•••, GAV $2,467,358,000 (tape start: the fund may be older)
- Vehicle first reported Mar 30, 2012 (observed) B••••••••• R••• E••••• P••••••• V• T••• L••• first reported on Form ADV by B••••••••• R••• E••••• A••••••• V• L•••, GAV $863,654,000 (tape start: the fund may be older)
- First ADV filing on the tape Nov 10, 2011 (observed) B••••••••• R••• E••••• A••••••• V• L••• first filed Form ADV in the extract (IA)
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.