Real Estate Investment Companies 101

Real estate investment companies, including private equity, are investment vehicles that pool together capital from various investors with the main goal of investing that capital directly into real estate properties or real estate-related investments. Real estate funds may invest in a variety of property types, including residential, commercial, industrial, or other specialized real estate.

Private equity real estate funds are a kind of real estate fund that is typically structured as limited partnerships. The fund manager, or general partner, raises capital from individual or institutional investors who become limited partners in the fund. These funds usually leverage their buying power to acquire high-value properties or real estate portfolios that would be too costly for individual investors.

These funds can generate returns for investors through rental income, property appreciation, and the profitable sale of properties. They can offer diversification to an investment portfolio and also carry risks such as property market downturns or liquidity constraints. Private equity real estate funds typically have a longer investment horizon, often several years, and may require investors to commit their capital for a set period.

States with the most Real-Estate Funds

- NY - CA - TX - FL - MA - PA - IL - CT - CO - OH - GA - UT - NJ - WA - MI - DC - VA - MD - NC -

Largest Real-Estate Investment Firms in the United States

Top 100 Real-Estate Investment Firms
RankNameLocationAUM ($ Billions)
1Invesco Real Estate Management S.À R.L.Luxembourg, $428.8B
2Blackstone Real Estate AdvisorsNew York, NY$129.7B
3Brookfield Asset Management PIC UsNew York, NY$69.7B
4Blackstone Property AdvisorsNew York, NY$59B
5TCI Fund Management LimitedLondon, $46.7B
6Bridge Investment GroupSandy, UT$43.1B
7Starwood Capital Group ManagementMiami Beach, FL$31.9B
8Clarion PartnersNew York, NY$29.1B
9Blackstone Real Estate Special Situations AdvisorsNew York, NY$18.6B
10Exeter Property GroupRadnor, PA$17.4B
11Greystar Investment GroupCharleston, SC$16.4B
12TPG Real Estate AdvisorsFort Worth, TX$15.8B
13Divco West Real Estate ServicesSan Francisco, CA$15.3B
14Walton Street CapitalChicago, IL$14.4B
15Affinius CapitalSan Antonio, TX$14.1B
16RockpointDallas, TX$13.7B
17Aermont Capital Management S.A R.L.Luxembourg, $12.6B
18Related Fund ManagementNew York, NY$12.4B
19Msref Real Estate AdvisorNew York, NY$11.5B
20Rockwood CapitalNew York, NY$10.9B
21Affinius CapitalNew York, NY$10.7B
22AXA Reim SGPParis LA Defense, $10.6B
23Nrep AB111 53 Stockholm, $9.9B
24Stepstone Group Real EstateLa Jolla, CA$9.7B
25IPI PartnersChicago, IL$9.6B
26Tishman Speyer PropertiesNew York, NY$9.4B
27Bain Capital Real EstateBoston, MA$9.4B
28RealtermAnnapolis, MD$9.2B
29PCCPLos Angeles, CA$8.9B
30Northwood InvestorsDenver, CO$8.9B
31BGO Us Real EstateNew York, NY$8.8B
32GLP Capital PartnersSanta Monica, CA$8.7B
33Cbre Investment Management Indirect LimitedLondon, $8.3B
34Artemis Real Estate PartnersChevy Chase, MD$8.3B
35Prime Finance AdvisorSan Francisco, CA$7.7B
36Rialto Capital ManagementMiami, FL$7.5B
37Elmtree FundsSt. Louis, MO$7.2B
38Asana PartnersCharlotte, NC$7.1B
39Banner Oak Capital PartnersDallas, TX$6.9B
40Keppel Fund Management LimitedSingapore, $6.8B
41Adelie Investment ManagementPort Louis, $6.7B
42Crescent Real EstateFort Worth, TX$6.1B
43Carmel PartnersSan Francisco, CA$6B
44Corum Asset ManagementParis, $6B
45Allianz Real Estate GMBHMunich, Bavaria, $5.9B
46Nuveen Investment Management International LimitedLondon, $5.8B
47Global Forest PartnersLebanon, NH$5.8B
48Stockbridge Capital GroupSan Francisco, CA$5.7B
49Niam ABStockholm, $5.7B
50Madison International Realty HoldingsNew York, NY$5.4B
51Beacon Capital PartnersBoston, MA$5.4B
52Abacus Capital GroupNew York, NY$5.4B
53Acore CapitalSan Francisco, CA$5.3B
54Bell PartnersGreensboro, NC$5.3B
55Cabot PropertiesBoston, MA$5.3B
56Lasalle Investment Management Asia Pte.Singapore, $5.2B
57Cbre Investment Management Asia Pacific Pte.Singapore, $5.2B
58GEM Realty CapitalChicago, IL$4.9B
59Waterton Investment AdviserChicago, IL$4.7B
60TMF Fund Management Ireland LimitedDublin, $4.5B
61Rockbridge CapitalColumbus, OH$4.5B
62Bentallgreenoak Strategic Capital PartnersNew York, NY$4.4B
63Meadow Capital ManagementNew York, NY$4.1B
643650 Reit Investment ManagementMiami, FL$3.9B
65MCR Fund ManagementDallas, TX$3.9B
66IDR Investment ManagementIndependence, OH$3.9B
67Avanath Capital ManagementIrvine, CA$3.8B
68FCPChevy Chase, MD$3.7B
69Proprium Capital PartnersStamford, CT$3.7B
70Pennybacker Capital ManagementAustin, TX$3.7B
71RXR Asset ManagementUniondale, NY$3.6B
72GCP Investment AdvisorChicago, IL$3.6B
73Blackstone Real Estate Advisors EuropeNew York, NY$3.6B
74Invictus Capital PartnersWashington, DC$3.6B
75TGM AssociatesNew York, NY$3.5B
76Vanbarton GroupNew York, NY$3.5B
77Sabal Investment AdvisorsIrvine, CA$3.3B
78Acre ManagerNew York, NY$3.1B
79Dune Real Estate PartnersNew York, NY$3B
80Longpoint PartnersBoston, MA$2.9B
81Aermont CapitalLondon, $2.8B
82Lubert-Adler ManagementPhiladelphia, PA$2.8B
83Berkshire Property AdvisorsBoston, MA$2.8B
84Prospect RidgeNew York, NY$2.7B
85Patron Capital AdvisersLondon, $2.7B
86Victory Advisors LimitedLondon, $2.7B
87Orion Capital ManagersLondon, $2.7B
88Breakthrough PropertiesLos Angeles, CA$2.6B
89Fairfield Realty AdvisorsSan Diego, CA$2.5B
90Maxim Capital GroupNew York, NY$2.5B
91Slate Advisory Service USChicago, IL$2.3B
92White Oak Partners Investment AdvisorWesterville, OH$2.3B
93D/B/A Davis Companies OR DavisBoston, MA$2.3B
94Europa CapitalLondon, $2.2B
95Terracap ManagementNaples, FL$2.2B
96Kawa Capital ManagementHallandale Beach, FL$2.2B
97AJ Capital ManagementNashville, TN$2.2B
98Fillmore Capital PartnersColumbus, OH$2.1B
99Pagaya Investments USNew York, NY$2.1B
100Alterra IOS ManagerBryn Mawr, PA$2.1B

Source: SEC Filings, Apr 2024