9AT: GAMMA REAL ESTATE CAPITAL MANAGEMENT, INC.

GAMMA REAL ESTATE CAPITAL MANAGEMENT, INC.

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other names

GAMMA REAL ESTATE CAPITAL MANAGEMENT, INC.
GRE LENDING S58 II LLC (RELYING ADVISER)
GRE DICKINSON RESTAURANT LLC (RELYING ADVISER)

Adviser Profile

As of Date	03/27/2025
Registration status	Registration Changed to GAMMA REAL ESTATE CAPITAL MANAGEMENT, INC.
ADV Location	NEW YORK, NY, United States
Contact Info	212 xxxxxxx
Websites

AUM^*	108,453,488 -29%
of that, discretionary	108,453,488 -29%
Private Fund GAV^*	0
Avg Account Size	27,113,372 -29%
SMA’s	No
Private Funds	0 2

Adviser Type

- Large advisory firm

Number of Employees 5

of those in investment advisory functions 2

Client Types

- Pooled investment vehicles

Advisory Activities

- Portfolio management for pooled investment vehicles

Compensation Arrangments

- A percentage of assets under your management
- Performance-based fees

Reported AUM

218M 186M 155M 124M 93M 62M 31M

2020 2021 2022 2023

Discretionary

Non-discretionary

Private Funds

GAV Count

Employees

Brochure Summary

Overview

A. Firm Description Gamma is a Delaware corporation that was formed in December 2014, with its only office located in New York, NY. Gamma’s principal owners are N. Richard Kalikow and Jonathan Gilbert Kalikow. B. Types of Advisory Services The Firm provides discretionary investment advisory services to private pooled investment vehicles (each a “Fund” and, collectively, the “Funds”). Although the Firm may recommend investing in any security or industry sector in the market in order to meet the investment objectives of its Funds, Gamma focuses on real estate and real estate-related investments. Interests in the Funds are generally offered to qualified investors through private offerings. Gamma is affiliated with entities that serve as general partners to each of the Funds (each, a “General Partner” and, collectively, the “General Partners”). The advisory services of Gamma and each of the General Partners, as affiliated investment advisors, are described in this Brochure. Each General Partner is deemed to be registered under the Investment Advisers Act of 1940, as amended (the “Advisers Act”) pursuant to Gamma’s registration in accordance with SEC guidance. The investment advisory services provided by Gamma shall also apply in respect of the General Partners. The investment advice provided by the Firm to the Funds is generally to make opportunistic investments in real estate, with such real estate investments primarily

in the United States. The Firm strives to directly or indirectly acquire, develop, manage and invest real property through (i) direct investment; (ii) mortgage financing, second lien, mezzanine financing or other unsecured financing; (iii) co-investment structures including and participation interest, syndication interest or joint-venture interest; and (iv) other securities or any other investment structure. Gamma implements substantially a similar strategy for all of its Funds, Gamma may, from time to time, tailor its advisory services to the individual needs of a particular Fund, as necessary. Investment advice is provided directly to each Fund itself and not to the individual investors in the Funds. In accordance with common industry practice, a Fund or its general partner may from time to time enter into a “side letter” or similar agreement with an investor pursuant to which the Fund or its general partner grants the investor specific rights, benefits or privileges that are not generally made available to all investors. See “Item 8 – Methods of Analysis, Investment Strategies and Risk of Loss” below for more details. C. Wrap Fee Programs Gamma neither sponsors nor manages a wrap fee program. D. Assets Under Management (“AUM”) As of December 31, 2023, Gamma managed approximately $108,453,488 (US) in regulatory assets under Management on a discretionary basis. Gamma does not manage any assets on a non-discretionary basis.