Overview
A. The Adviser is an opportunistic real estate investment firm located in Chicago, Illinois that
was formed in 2011 by Mr. Seth Singerman, the founder and managing principal of the
Adviser (the “Managing Principal”). The Managing Principal is the sole equity owner of the
Adviser through direct and indirect interests.
B. The Adviser provides investment advisory services on a discretionary basis to private equity
collective investment vehicles (together with their respective parallel funds and special
purpose or alternative investment vehicles, the “Funds”). Typically, each Fund includes a
special purpose general partner, managing member or similar entity which is an affiliate of
the Adviser (each, a “General Partner”).
The Funds were organized to acquire a diversified set of real estate assets, including direct
property investments, real estate loans, operating companies and publicly traded securities
with a focus on maximizing risk-adjusted returns through investments in both debt and equity
across all major asset classes including office, retail, hotel, industrial, multifamily and life
sciences, in addition to secondary real estate asset classes including student housing and
senior housing.
The Adviser will source and evaluate investment opportunities; formulate the Funds’
investment plans to unlock embedded value; structure, negotiate and direct the equity and
debt financing thereof; monitor and manage the Funds’ portfolio investments; strategize and
execute exit opportunities; and generally oversee the Funds’ assets in accordance with the
terms of the private placement memorandum, limited partnership agreement or other
governing documents applicable to each Fund (the “Governing Documents”).
C. While each of the Funds generally follows the general strategy stated above, the Adviser may
tailor the specific advisory services and the investment strategy of each Fund as set forth in
such Fund’s Governing Documents. Investment advice and management is provided directly
to the Funds and not individually to the limited partners or investors in the Funds (the
“Investors”). Investors may not restrict investments by the Funds in any capacity.
D. The Adviser does not participate in wrap fee programs.
E. As of March 29, 2024, the Adviser managed approximately $2.08 billion in discretionary
portfolios. The Adviser does not currently manage assets on a non-discretionary basis.