Blackstone Real Estate
Advisors
345 Park Ave., New York, NY 10154; phone: (212) 583-5316; fax: (212) 583-5720
($ millions)
Tax-exempt real estate assets 1,327
Equity 1,283
REITs 25
Hybrid debt 8
Mortgages 11
Fully discretionary assets 1,327
Tax-exempt equity assets: 1,283
Market value 1,229
Contributions committed but not received 54
Commingled or pooled funds
Equity 1,283
REITs 25
Hybrid debt 8
Mortgages 11
Property mix:
Existing 95.5%
Developmental 4.5%
Property type:
Hotel/resort 44.4%
Industrial 1.0%
Multifamily housing 1.5%
Office/commercial 41.9%
Retail 5.1%
Single-family housing 1.0%
Timber/agriculture 4.4%
Other 0.7%
Geographic mix:
West 26.7%
Midwest 19.2%
East 42.3%
South 11.8%
Total real estate assets 2,691
Equity 2,619
REITs 33
Hybrid debt 15
Mortgages 24
Client contact: Kenneth C. Whitney
Boston Financial
101 Arch St., Boston, MA 02110; phone: (617) 439-3911;
www.bosfin.com
($ millions)
Tax-exempt real estate assets 753
Equity 753
Fully discretionary assets 422
Tax-exempt equity assets: 753
Market value 753
Commingled or pooled funds
Equity 499
Direct, separate accounts
Equity 254
Property mix:
Existing 100%
Property type:
Industrial 2.2%
Multifamily housing 16.9%
Office/commercial 49.7%
Retail 31.2%
Geographic mix:
West 32.7%
Midwest 1.9%
East 55.0%
South 10.4%
Total real estate assets 2,867
Equity 2,867
Chief investment officers: Richard Burns and Randy Hawthorne
Client contacts: Harry B. Hedison and Michael P. Mollo
865 S. Figueroa St., Suite 3500, Los Angeles, CA 90017; phone: (213) 683-4200; fax: (213) 683-4301; www.cbrichardellis.com
($ millions)
Tax-exempt real estate assets 4,043
Equity 3,353
REITs 108
Hybrid debt 151
Mezzanine 9
Mortgages 422
Fully discretionary assets 2,491
Tax-exempt equity assets: 3,353
Market value 2,639
Contributions committed but not received 714
Commingled or pooled funds
Equity 886
Hybrid debt 151
Mortgages 422
Direct, separate accounts
Equity 2,315
REITs 108
Mezzanine 9
Co-investments
Equity 152
Property mix:
Existing 97.4%
Developmental 2.6%
Property type:
Hotel/resort 1.8%
Industrial 24.6%
Multifamily housing 4.1%
Office/commercial 42.1%
Retail 23.8%
Other 3.6%
Geographic mix:
West 39.4%
Midwest 11.9%
East 21.5%
South 27.2%
Total real estate assets 8,392
Equity 7,245
REITs 565
Hybrid debt 151
Mezzanine 9
Mortgages 422
Parent company: CB Richard Ellis
Chief investment officer: Robert Zerbst
Client contact: Timothy Stevens
CIGNA Investment
Management
900 Cottage Grove Road, Hartford, CT 06152-2314; phone: (860) 726-3293; fax: (860) 726-6110;
cigna.com
($ millions)
Tax-exempt real estate assets 3,817
Equity 1,781
Mortgages 2,036
Fully discretionary assets 3,646
Tax-exempt equity assets: 1,781
Market value 1,574
Contributions received but not invested 57
Contributions committed but not received 150
Commingled or pooled funds
Equity 1,682
Direct, separate accounts
Equity 66
Co-investments
Equity 33
Mortgages 2,036
Property mix:
Existing 98%
Developmental 2%
Property type:
Hotel/resort 13%
Industrial 20%
Multifamily housing 17%
Office/commercial 42%
Retail 5%
Timber/agriculture 1%
Mixed-use 2%
Geographic mix:
West 29%
Midwest 11%
East 26%
South 34%
Total real estate assets 15,314
Equity 3,367
Mortgages 11,947
Parent company: CIGNA Corp.
Chief investment officer: Thomas C. Jones
Client contact: William J. Grady
The statistics shown above include data from CIGNA Investments Inc. and Connecticut General Life Insurance Co.
Clarion Partners/CRA
335 Madison Ave., New York, NY 10017; phone: (212) 883-2500; fax: (212) 883-2700; www.clarionp.com
($ millions)
Tax-exempt real estate assets 4,917
Equity 3,461
REITs 1,356
Commercial mortgage-backeds 100
Fully discretionary assets 2,367
Tax-exempt equity assets: 3,461
Market value 2,961
Contributions committed but not received 500
Direct, separate accounts
Equity 3,461
REITs 1,356
Commercial mortgage-backeds 100
Property mix:
Existing 99.6%
Developmental 0.4%
Property type:
Industrial 2.0%
Multifamily housing 9.6%
Office/commercial 54.6%
Retail 33.4%
Other 0.4%
Geographic mix:
West 17.1%
Midwest 12.5%
East 40.0%
South 30.4%
Total real estate assets 5,159
Equity 3,512
REITs 1,457
Commercial mortgage-backeds 190
Parent company: The ING Group
Chief investment officers: S.J. Furnary, T. Ritson Ferguson and D.S. Heflin
Client contact: William K. Krauch
The statistics shown above include data from Clarion/CRA Securities and Clarion Capital.
Cohen & Steers Capital
Management Inc.
757 Third Ave., 20th Floor, New York, NY 10017; phone: (212) 832- 3232; fax: (212) 832-3622; www.cohenandsteers.com ($ millions)
Tax-exempt real estate assets 1,528
REITs 1,528
Fully discretionary assets 1,528
Total real estate assets 4,012
REITs 4,012
Chief investment officers: Martin Cohen and Robert H. Steers
Client contact: William Frischling
Conning Asset Management
700 Market St., St. Louis, MO 63101; phone: (314) 444-0478; fax: (314) 444-0727
($ millions)
Tax-exempt real estate assets 669
REITs 119
Mortgages 427
Commercial mortgage-backed 123
Fully discretionary assets 669
Commingled or pooled funds
REITs 119
Mortgages 113
Commercial mortgage-backed 123
Direct, separate accounts
Mortgages 314
Property mix:
Existing 100%
Total real estate assets 4,610
Equity 169
REITs 119
Mortgages 4,000
Commercial mortgage-backed 322
Parent company: General American Life Insurance Co.
Chief investment officer: Leonard Rubenstein
Client contact: Elizabeth Busch
CS Capital Management Inc.
5 Piedmont Center, Suite 710,
Atlanta, GA 30305; phone: (404) 261-8049; fax: (404) 261-0271
($ millions)
Tax-exempt real estate assets 620
Equity 562
REITs 58
Fully discretionary assets 460
Tax-exempt equity assets: 562
Market value 310
Contributions received but not invested 252
Commingled or pooled funds
Equity 360
REITs 58
Direct, separate accounts
Equity 202
Property mix:
Existing 24%
Developmental 76%
Property type:
Industrial 10%
Multifamily housing 9%
Office/commercial 12%
Retail 8%
Mixed-use 61%
Geographic mix:
West 42%
Midwest 16%
East 30%
South 12%
Total real estate assets 620
Equity 562
REITs 58
Chief investment officer/client contact: Paul H. Saylor
