Prudential Real Estate
Investors
51 JFK Parkway, Short Hills, N.J. 07078; phone: (201) 912-7900; fax: (201) 912-7924
($ millions)
Tax-exempt real estate assets6,722
Equity6,002
Mortgages720
Commingled or pooled funds
Equity4,480
Mortgages130
Direct, separate accounts
Equity956
Mortgages215
Co-investments
Equity88
Mortgages225
Total real estate assets6,722
Equity6,002
Mortgages720
As of June 30, Prudential Real Estate Investors had $6.722 billion in U.S. institutional tax-exempt real estate assets, of which $5.194 billion was in fully discretionary accounts.
The tax-exempt equity assets had a market value of $5.524 billion as of June 30. Contributions committed but not received were $479 million.
Total real estate assets under management were $6.772 billion.
Of the U.S. tax-exempt assets, 99% was in existing and 1% in developmental properties. The property mix was 9% hotel/resort, 16% industrial, 1% single-family housing, 15% multifamily housing, 39% office/commercial, 19% retail and 1% timber/agriculture. The geographic mix was 34% West, 16% Midwest, 36% East and 14% South.
The parent company is Prudential Insurance Co. of America.
Claude Zinnegrabe is the chief investment officer; Kevin Myers is the client contact.
PSI Institutional Advisors
600 N. Brand Blvd., Suite 300, Glendale, Calif. 91203; phone: (818) 244-8080; fax: (818) 244-0581
($ millions)
Tax-exempt real estate assets572
Equity572
Commingled or pooled funds
Equity339
Direct, separate accounts
Equity233
Total real estate assets572
Equity572
As of June 30, PSI Institutional Advisors had $572 million in U.S. institutional tax-exempt real estate assets, of which none was in fully discretionary accounts.
The tax-exempt equity assets had a market value of $572 million as of June 30.
Total real estate assets under management were $572 million.
Of the U.S. tax-exempt assets, 100% was in developmental properties. The property mix was 100% self-storage facilities. The geographic mix was 41.4% West, 22.3% Midwest, 28% East and 8.3% South.
The parent company is PSI Holdings Inc.
Hugh Horne is the chief investment officer; William J. Chadwick and Harvey Lenkin are the client contacts.
Resource Investments Inc.
Trade Center, Box 24, 24 Airport Road, West Lebanon, N.H. 03784; phone: (603) 298-7001; fax: (603) 298-7620
($ millions)
Tax-exempt real estate assets800
Equity800
Commingled or pooled funds
Equity800
Total real estate assets800
Equity800
As of June 30, Resource Investments had $800 million in U.S. institutional tax-exempt real estate assets, all in fully discretionary accounts.
The tax-exempt equity assets had a market value of $800 million as of June 30.
Total real estate assets under management were $800 million.
All of the U.S. tax-exempt assets were in existing properties. The property mix was 100% timber. The geographic mix was 7% West, 3% East, 40% South and 50% international.
Eric Oddleifson is chief investment officer; Christopher J. Broom is client contact.
The RREEF Funds
650 California St., Suite 1800, San Francisco, Calif. 94108; phone: (415) 781-3300; fax: (415) 986-6248
($ millions)
Tax-exempt real estate assets4,885
Equity4,620
REITs134
Mortgages131
Commingled or pooled funds
Equity2,005
Mortgages14
Direct, separate accounts
Equity2,460
Mortgages70
Co-investments
Equity289
Mortgages47
Total real estate assets5,298
Equity4,998
Mortgages166
REITs134
As of June 30, The RREEF Funds had $4.885 billion in U.S. institutional tax-exempt real estate assets, of which $3.5 billion was in fully discretionary accounts.
The tax-exempt equity assets had a market value of $3.538 billion as of June 30. Contributions committed but not received were $1.082 billion.
Total real estate assets under management were $5.298 billion.
Of the U.S. tax-exempt assets, 98% was in existing and 2% in developmental properties. The property mix was 25% industrial, 14% multifamily housing, 26% office/commercial, 34% retail and 1% land. The geographic mix was 37% West, 25% Midwest, 17% East and 21% South.
Donald A. King Jr. is chief investment officer; Stephen M. Steppe is client contact.
Sarofim Realty Advisors
8201 Preston Road, Suite 450, Dallas, Texas 75225; phone: (214) 739-6770; fax: (214) 739-3931
($ millions)
Tax-exempt real estate assets528
Equity143
Hybrid debt376
Mortgages9
Commingled or pooled funds
Equity6
Hybrid debt127
Mortgages8
Direct, separate accounts
Equity131
Hybrid debt249
Mortgages1
Total real estate assets528
Equity143
Hybrid debt376
Mortgages9
As of June 30, Sarofim Realty Advisors had $528 million in U.S. institutional tax-exempt real estate assets, of which none was in fully discretionary accounts.
The tax-exempt equity assets had a market value of $138 million as of June 30. Contributions received but not invested were $3 million; contributions committed but not received were $2 million.
Total real estate assets under management were $528 million.
Of the U.S. tax-exempt assets, 99.4% was in existing and 0.6% in developmental properties. The property mix was 4% industrial, 20% multifamily housing, 46% office/commercial and 30% retail. The geographic mix was 4% West, 28% East and 68% South.
The parent company is Fayez Sarofim & Co.
C. Al Galpern is the chief investment officer; Eugene Sanger is the client contact.
Schroder Real Estate
Associates
437 Madison Ave., New York, N.Y. 10022; phone: (212) 940-3600; fax: (212) 644-2790
($ millions)
Tax-exempt real estate assets1,091
Equity1,016
Mortgages75
Commingled or pooled funds
Equity779
Mortgages75
Direct, separate accounts
Equity237
Total real estate assets1,091
Equity1,016
Mortgages75
As of June 30, Schroder Real Estate Associates had $1.091 billion in U.S. institutional tax-exempt real estate assets, of which $666 million was in fully discretionary accounts.
The tax-exempt equity assets had a market value of $811 million as of June 30. Contributions committed but not received were $205 million.
Total real estate assets under management were $1.091 billion.
Of the U.S. tax-exempt assets, 100% was in existing properties. The property mix was 3% industrial, 30% office/commercial and 67% retail. The geographic mix was 23% West, 32% East and 45% South.
Norman L. Peck is the chief investment officer; John Emmanuel is the client contact.
Sentinel Real Estate Corp.
1290 Avenue of the Americas, New York, N.Y. 10104; phone: (212) 408-2900; fax: (212) 586-2928
($ millions)
Tax-exempt real estate assets1,844
Equity1,766
Mortgages78
Commingled or pooled funds
Equity576
Mortgages41
Direct, separate accounts
Equity504
Total real estate assets2,279
Equity2,195
Mortgages84
As of June 30, Sentinel Real Estate had $1.844 billion in U.S. institutional tax-exempt real estate assets, of which $1.121 billion was in fully discretionary accounts.
The tax-exempt equity assets had a market value of $1.507 billion as of June 30. Contributions received but not invested were $53 million; contributions committed but not received were $206 million.
Total real estate assets under management were $2.279 billion.
Of the U.S. tax-exempt assets, 100% was in existing properties. The property mix was 2% industrial, 94% multifamily housing, 1% office/commercial and 3% retail. The geographic mix was 31% West, 15% Midwest, 15% East and 39% South.
John H. Streicker is the chief investment officer; David Weiner is the client contact.
TCW Realty Advisors
865 S. Figueroa St., Suite 3500, Los Angeles, Calif. 90017-2543; phone: (213) 683-4200; fax: (213) 683-4201
($ millions)
Tax-exempt real estate assets3,012
Equity2,499
Hybrid debt513
Commingled or pooled funds
Equity1,126
Hybrid debt178
Direct, separate accounts
Equity1,373
Hybrid debt335
Total real estate assets3,012
Equity2,499
Hybrid debt513
As of June 30, TCW Realty Advisors had $3.012 billion in U.S. institutional tax-exempt real estate assets, of which $2.14 billion was in fully discretionary accounts.
The tax-exempt equity assets had a market value of $2.499 billion as of June 30.
Total real estate assets under management were $3.012 billion.
Of the U.S. tax-exempt assets, 94.7% was in existing and 5.3% in developmental properties. The property mix was 28% industrial, 29.2% office/commercial, 37.6% retail and 5.2% land. The geographic mix was 51.8% West, 12.4% Midwest, 27.4% East and 8.4% South.
Richard Pink is the chief investment officer; Bruce Ludwig is the client contact.
Trammell Crow Realty
Advisors
3500 Trammell Crow Center, 2001 Ross Ave., Dallas, Texas 75201; phone: (214) 979-5100; fax: (214) 979-5481
($ millions)
Tax-exempt real estate assets1,571
Equity1,537
Mortgages34
Commingled or pooled funds
Equity1,424
Mortgages26
Co-investments
Equity113
Mortgages8
Total real estate assets1,571
Equity1,537
Mortgages34
As of June 30, Trammel Crow Realty Advisors had $1.571 billion in U.S. institutional tax-exempt real estate assets, of which all was in fully discretionary accounts.
The tax-exempt equity assets had a market value of $1.52 billion as of June 30. Contributions committed but not received were $17.5 million.
Total real estate assets under management were $1.571 billion.
Of the U.S. tax-exempt assets, 80.8% was in existing and 19.2% in developmental properties. The property mix was 7.8% hotel/resort, 18.7% industrial, 1.2% multifamily housing, 46.2% office/commercial, 9% retail and 17.1% land. The geographic mix was 46.4% West, 6.2% Midwest, 19% East and 28.4% South.
The parent company is Trammel Crow Ventures.
Charles R. Lathem is the chief investment officer and client contact.
The Union Labor Life
Insurance Co.
111 Massachusetts Ave., Washington, D.C. 20001; phone: (202) 682-7923; fax: (202) 682-7932
($ millions)
Tax-exempt real estate assets1,181
Mortgages1,181
Commingled or pooled funds
Mortgages781
Direct, separate accounts
Mortgages400
Total real estate assets1,181
Mortgages1,181
As of June 30, The Union Labor Life Insurance Co. had $1.181 billion in U.S. institutional tax-exempt real estate assets, all in fully discretionary accounts.
Of the U.S. tax-exempt assets, $125 million was invested in commercial mortgage-backed securities as of June 30.
Total real estate assets under management were $1.181 billion.
Of the U.S. tax-exempt assets, 98% was in existing and 2% in developmental properties. The property mix was 6% hotel/resort, 21% industrial, 9% multifamily housing, 30% office/commercial, 31% retail and 3% medical/office.
The geographic mix was 25% West, 43% Midwest, 26% East and 6% South.
Michael Steed is chief investment officer; Herb Kolben is client contact.
The Yarmouth Group
10 E. 50th St., New York, N.Y. 10022; phone: (212) 355-4810; fax: (212) 593-5186
($ millions)
Tax-exempt real estate assets5,130
Equity4,870
Hybrid debt260
Commingled or pooled funds
Equity1,825
Hybrid debt260
Direct, separate accounts
Equity2,100
Co-investments
Equity265
Total real estate assets6,954
Equity6,088
Hybrid debt636
Mortgages230
As of June 30, The Yarmouth Group had $5.13 billion in U.S. institutional tax-exempt real estate assets, of which $4.45 billion was in fully discretionary accounts.
The tax-exempt equity assets had a market value of $4.25 billion as of June 30. Contributions committed but not received were $620 million.
Total real estate assets under management were $6.954 billion.
Of the U.S. tax-exempt assets, 100% was in existing properties. The property mix was 8% hotel/resort, 1% industrial, 30% office/commercial and 61% retail. The geographic mix was 42% West, 13% Midwest, 29% East and 16% South.
The parent company is Lend Lease Corp.
Christopher D. Budden is the chief investment officer; David R. Hodes is the client contact.
