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S••••••• B••

Multi-strategy real estate managerSEC-registered adviserunder $1B· Salt Lake City, Utah

Multi-strategy real estate manager, based in Salt Lake City, Utah, reporting $25.3M of real estate gross assets across 1 vehicle.

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

Real estate GAV
$25.3M
Form ADV, Schedule D, real estate vehicles summed
Current vehicles
1
Form ADV, Schedule D 7.B.(1)
Vehicles (8)
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 301868 · SEC 801-118520Show
CRD 301868SEC 801-118520under $1BMulti-strategyForm ADV
What capital do they manage?
Real estate GAV
$25M GAV 2024sum of GAV over non-feeder, non-quarantined Real Estate Fund vehicles on the latest filing (a scale proxy, never fund size)
Vehicles
1 current, 8 ever, 7 dropped0 feeders, 1 funds of funds
How the GAV is measured, and the filing detailShow
First on the tape
2019the extract starts in 2011; an earlier history is not visible
Latest filing
Mar 29, 2024registered adviser
Adviser RAUM
$2.0Bthe whole adviser, all strategies; used for the quarantine test only
Fund types on the latest filing
Real Estate Fund 1
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
Multi-strategy
Operator model
Hybridbasis: stated
Property types
Multifamily, Net lease, Self storage, Retail, Industrial, Healthcarebasis: stated
Markets
Mountain West, Sunbelt, Sunbelt, Midwest, Southeast, Texas, Arizona, St. Louisbasis: stated
Business kind (site)
Real estate manager
AUM in its own words
$2.5B+ Assets Under Management (as of 12/31/2024)the manager's statement, not a DFX figure
In the manager's own words24 quotesShow
  • Debt: “co-managing the firm’s Debt Strategies platform”
  • Net lease: “Mark launched the Net Lease Investments at S••••••• B•• in 2016”
  • Value add: “deep expertise in value-add construction and operational improvements”
  • Multi-strategy: “We seek attractive, middle-market private debt and equity investments in high-growth markets that are “underbanked” and defensive.”
  • Multifamily: “S••••••• B•• has significantly expanded its multifamily portfolio and launched Senior Debt and Net Lease Investment verticals.”
  • Net lease: “S••••••• B•• has significantly expanded its multifamily portfolio and launched Senior Debt and Net Lease Investment verticals.”
  • Self storage: “responsible for originating new investment opportunities within the firm’s Self-Storage Equity platform”
  • Retail: “overseeing asset management for the firm’s net lease, retail, industrial, and medical office portfolio”
  • Industrial: “overseeing asset management for the firm’s net lease, retail, industrial, and medical office portfolio”
  • Healthcare: “overseeing asset management for the firm’s net lease, retail, industrial, and medical office portfolio”
  • Office: “Current investment activity includes ownership interests in office, retail, mobile home parks, residential land, and multifamily properties”
  • Manufactured housing: “Current investment activity includes ownership interests in office, retail, mobile home parks, residential land, and multifamily properties”
  • Land: “Current investment activity includes ownership interests in office, retail, mobile home parks, residential land, and multifamily properties”
  • Student housing: “responsible for leading national multifamily and student housing acquisitions”
  • Mountain West: “While our headquarters are in the beautiful Mountain West, our experience and investments span U.S. growth markets”
  • Sunbelt: “National exposure and Mountain West / Sunbelt expertise”
  • Sunbelt: “Investment focus centers on multifamily assets across the Sunbelt, Midwest, Mountain West, and Southeast markets.”
  • Midwest: “Investment focus centers on multifamily assets across the Sunbelt, Midwest, Mountain West, and Southeast markets.”
  • Southeast: “Investment focus centers on multifamily assets across the Sunbelt, Midwest, Mountain West, and Southeast markets.”
  • Texas: “She oversees asset performance and management operations for the firm’s properties in Texas, Arizona, St. Louis, and Utah.”
  • Arizona: “She oversees asset performance and management operations for the firm’s properties in Texas, Arizona, St. Louis, and Utah.”
  • St. Louis: “She oversees asset performance and management operations for the firm’s properties in Texas, Arizona, St. Louis, and Utah.”
  • Utah: “She oversees asset performance and management operations for the firm’s properties in Texas, Arizona, St. Louis, and Utah.”
  • United States: “our experience and investments span U.S. growth markets, often overlooked by other institutional investors”
Vehicles
8 on Form ADV
VehicleKindGAVOwnersReportedVintageLifecycleName saysLPs
S••••••• M•• I•••••• L••
805-4262172680
fund of funds$25M GAV 2024602021 to 20242021Investing
7 dropped, re-typed or historical vehicles
VehicleKindGAVOwnersReportedVintageLifecycleName saysLPs
S••••••• D••• P•••••••• L•
805-4527481289, dropped 2023
fund$512M GAV 202213902019* to 2022unknownDropped from ADVDebt
S•• R•••• L••
805-1623118245, dropped 2023
REIT$512M GAV 20221262019* to 2022unknownDropped from ADVREIT sponsor
S••••••• B•• I••••• a•• G••••• O•• L•
805-1286387455, dropped 2023
fund$148M GAV 2022642021 to 20222021Dropped from ADV
S••••••• B•• I••••• a•• G••••• R•••• L••
805-3953465104, dropped 2023
REIT$100M GAV 20221262022 to 20222022Dropped from ADVREIT sponsor
S••••••• B•• I••••• a•• G••••• F•••• L•
805-4668966333, dropped 2023
fund$100M GAV 20222522021 to 20222021Dropped from ADV
S•• F•••••••• 2•••• L•
805-5236316187, dropped 2023
fund$34M GAV 202212021 to 20222020Dropped from ADV
S••••••• B•• D••• O••••••••• F•••• L•••
805-9983427533, dropped 2023
fund$0 GAV 202212021 to 20222021Dropped from ADVDebt
What do they actually own?
0 trusted of 3 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
  • R••• J••••• B••••••• Manager/Member since 2021-01
  • M•••••• C•••• N•••• Manager/Member since 2021-01
  • M•••••• S•••• R••••• Manager/Member since 2021-01
  • C•••• E••••• R••••• Manager since 2021-01
  • S••••••• J•• R•••• Manager since 2021-01
  • M••• D••• M•••••• Manager since 2021-01
  • A•• E•••••••• M••••• Chief Compliance Officer since 2021-06
  • B•••• S•••• General Counsel since 2021-10
What is changing?
  • Vehicle dropped from ADV Mar 31, 2023 (observed) ••• Locked
  • Vehicle dropped from ADV Mar 31, 2023 (observed) ••• Locked
  • Vehicle dropped from ADV Mar 31, 2023 (observed) ••• Locked
  • Vehicle dropped from ADV Mar 31, 2023 (observed) ••• Locked
  • Vehicle dropped from ADV Mar 31, 2023 (observed) ••• Locked
Full timeline · 16 events
  • Vehicle dropped from ADV Mar 31, 2023 (observed) ••• Locked
  • Vehicle dropped from ADV Mar 31, 2023 (observed) ••• Locked
  • Vehicle first reported Mar 31, 2022 (observed) ••• Locked
  • Vehicle first reported Apr 30, 2021 (observed) ••• Locked
  • Vehicle first reported Mar 31, 2021 (observed) ••• Locked
  • Vehicle first reported Mar 31, 2021 (observed) ••• Locked
  • Vehicle first reported Mar 31, 2021 (observed) ••• Locked
  • Vehicle first reported Mar 31, 2021 (observed) ••• Locked
  • First ADV filing on the tape Apr 30, 2019 (observed) ••• Locked
  • Vehicle first reported Apr 30, 2019 (observed) ••• Locked
  • Vehicle first reported Apr 30, 2019 (observed) ••• Locked
Across DFX

Not yet on record: properties held, institutional LPs.