Koll Investment Management
4343 Von Karman Ave., Newport Beach, Calif. 92646; phone: (714) 852-5252; fax: (714) 250-6055
($ millions)
Tax-exempt real estate assets1,184
Equity758
REITs55
Hybrid debt10
Mortgages361
Commingled or pooled funds
Equity311
REITs55
Mortgages178
Direct, separate accounts
Equity447
Hybrid debt10
Mortgages183
Total real estate assets1,293
Equity867
REITs55
Hybrid debt10
Mortgages361
As of June 30, Koll Investment Management had $1.184 billion in U.S. institutional tax-exempt real estate assets, of which $1.032 billion were in fully discretionary accounts.
The tax-exempt equity assets had a market value of $728 billion as of June 30. Contributions received but not invested were $30 million.
Of the U.S. tax-exempt assets, 95% were in existing and 5% in developmental properties. The property mix was 2% hotel/resort, 26% industrial, 2% single-family housing, 8% multifamily housing, 30% office/commercial, 25% retail and 7% other.
The geographic mix was 62% West, 13% Midwest, 9% East and 16% South.
Richard Wollack is the chief investment officer; Nicholas Patin is the client contact.
L&B Real Estate Counsel
8750 N. Central Expressway, Suite 800, Dallas, Texas 75231; phone: (214) 989-0800; fax: (214) 989-0700
($ millions)
Tax-exempt real estate assets2,130
Equity2,082
Hybrid debt31
Mortgages17
Commingled or pooled funds
Equity761
Hybrid debt10
Direct, separate accounts
Equity641
Hybrid debt6
Mortgages17
Co-investments
Equity681
Hybrid debt14
Total real estate assets2,192
Equity2,144
Hybrid debt31
Mortgages17
As of June 30, L&B Real Estate Counsel had $2.13 billion in U.S. institutional tax-exempt real estate assets, of which $733 million were in fully discretionary accounts.
The tax-exempt equity assets had a market value of $1.994 billion as of June 30. Contributions received but not invested were $6 million; contributions committed but not received were $82 million.
Of the U.S. tax-exempt assets, all were in existing properties. The property mix was 15% industrial, 3% multifamily housing, 45% office/commercial, 37% retail. The geographic mix was 18.9% West, 5.4% Midwest, 56.4% East and 19.3% South.
The parent is United Asset Management.
M. Thomas Lardner is the chief investment officer; G. Andrews Smith is the client contact.
LaSalle Advisors Ltd.
11 S. LaSalle St., Chicago, Ill. 60603; phone: (312) 782-5800; fax: (312) 782-4339
($ millions)
Tax-exempt real estate assets6,746
Equity4,912
REITs537
Hybrid debt919
Mortgages378
Commingled or pooled funds
Equity1,090
REITs537
Hybrid debt219
Mortgages110
Direct, separate accounts
Equity3,822
Hybrid debt700
Mortgages268
Total real estate assets10,964
Equity8,297
REITs537
Hybrid debt1,082
Mortgages1,048
As of June 30, LaSalle Advisors Ltd. had $6.746 billion in U.S. institutional tax-exempt real estate assets, of which $2.933 billion were in fully discretionary accounts.
The tax-exempt equity assets had a market value of $3.512 billion as of June 30. Contributions committed but not received were $1.4 billion.
Of the U.S. tax-exempt assets, $34 million were invested in commercial mortgage-backed securities as of June 30.
Of the U.S. tax-exempt assets, 99% were in existing and 1% in developmental properties. The property mix was 5% hotel/resort, 10% industrial, 4% housing, 44% office/commercial, 21% retail and 16% other (securities). The geographic mix was 29% West, 22% Midwest, 27% East and 22% South.
The parent company is LaSalle Partners Ltd.
Daniel W. Cummings and Lynn C. Thurber are the chief investment officers and client contacts.
Legg Mason Real Estate
Services
1735 Market St., 12th Floor, Philadelphia, Pa. 19103-7501; phone: (215) 496-3000; fax: (215) 496-3079
($ millions)
Tax-exempt real estate assets1,056
Equity155
Hybrid debt252
Mortgages649
Direct, separate accounts
Equity155
Hybrid debt252
Mortgages649
Total real estate assets1,056
Equity155
Hybrid debt252
Mortgages649
As of June 30, Legg Mason Real Estate Services had $1.056 billion in U.S. institutional tax-exempt real estate assets, of which $830 million was in fully discretionary accounts.
The tax-exempt equity assets had a market value of $155 million as of June 30.
Of the U.S. tax-exempt assets, all were in existing properties. The property mix was 1% hotel/resort, 17% industrial, 1% single-family housing, 20% multifamily housing, 32% office/commercial, 29% retail. The geographic mix was 5% West, 19% Midwest, 65% East and 11% South.
The parent company is Legg Mason Inc.
Douglas S. Callantine is the chief investment officer and client contact.
