U.S. Private Real Estate Equity
- AUM $12.0 billion
(31 December 2017)
- Inception Date 1994
- Vehicles Available
- Separate Account
- Commingled Fund
Our investment philosophy emphasizes strong governance, oversight and transparency. We seek to invest our clients’ capital prudently in private U.S. real estate equity, and use state-of-the-art research and cycle-tested investment and portfolio management experience to guide our decisions. We manage portfolios in ways that are sensitive to the needs of our clients while also recognizing the cyclical nature of real estate opportunities and the importance of balancing return potential with prudent risk management. We add value by actively managing our portfolios through an integrated team of acquisition, asset management and finance specialists. We also employ a prudent and pragmatic risk management process.
Our Value Add
- Deep Experience: We have over 22 years of experience investing in U.S. private real estate equity in all major property types and over multiple market cycles
- Track Record: We have a longstanding, favorable track record
- Proprietary Research: Our unique, research-led investment process, which combines fundamental analysis and local market insights from our regional offices with views from our multidisciplinary research and strategy team, defines our broader views on relative value and preferred strategies, as well as on strategies and tactics at the portfolio and asset level
- Integrated Business Platform: Our in-house equity investment team leverages the firm’s global expertise across the private and public debt and equity markets
- Local Knowledge; Information Advantage: Our regional offices are located in key markets, allowing us to provide specialization in markets and submarkets over long periods of time. This local knowledge also gives us what we believe is an information advantage in deal sourcing, underwriting, asset management and dispositions
- Development Expertise: Our extensive experience as a direct developer and through joint ventures gives us access to unique investment opportunities
Our private real estate equity capabilities include core, core-plus, value-add and opportunistic strategies that are designed to meet the diverse investment needs of our clients. Core strategies focus on delivering stable total returns above the industry benchmark and providing an attractive level of distributable income. We employ a risk-aware approach to value‐add investing, focusing on assets with current cash flow, short duration value‐add executions, and moderate leverage, in markets where supply/demand forecasts are favorable. In addition to investment in existing operating properties, we have engaged in substantial real estate development activities in North America. These strategies are offered through a combination of commingled funds, separate accounts, club and co-investment opportunities.