- Headquartered in Washington, DC
- An SEC registered investment advisor1
- Assets under management: $5.3 billion gross ($2.9 billion net) / 49 investments2
- Specializes in executing build-to-core strategies, including through an open-end, core-plus fund
- Invests in most major real estate sectors—mixed-use, apartments, office, retail, industrial, hotels, and data centers
- Focuses investments on leading U.S. urban markets
- 53 employees, with development offices Los Angeles and Philadelphia3
- Wholly owned by a subsidiary of the National Electrical Benefit Fund, a major U.S. pension fund
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Led by a management team working collaboratively since 20004, National Real Estate Advisors, LLC (National) has honed a specialized build-to-core strategy and established a unique open-end real estate fund to invest in modern assets, located in major U.S. urban markets. The company takes a patient, long-term investment view, developing and re-developing properties at appropriate points in the real estate cycle, always seeking to create modern, technologically advanced assets for its portfolios, to outperform older properties competing for tenants. Operating throughout the entire capital stack, National invests equity and lends debt—providing its development partners a range of flexible financing solutions—preferred equity, mezzanine debt, senior debt, construction loans, and credit enhancements. Relationships with many leading developers give National opportunities to participate in some of the country’s most recognized projects, while the company can also utilize in-house expertise to develop projects on its own or with others. While seeking to ensure quality construction in often complex projects, National has delivered solid long-term returns for its pension fund clients.
As of 12/31/2017.
- Registration as an investment adviser does not imply any level of skill or training. The SEC does not endorse, indemnity or guarantee National’s business practice, selling methods, the class or types of securities offered, or any specific security.
- Property-Level Gross Asset Value (GAV) is based on property-level unleveraged values for real estate investments. The reported GAV is based on the “as is” value (including properties in development) per the most recent property appraisal, and includes working capital and other adjustments such as capital reserves and construction costs spent. However, the GAV for debt (senior and subordinate loans) investments is reported as the fair value of the loan, as opposed to the fair value of the underlying collateral (property). Property Values are based on the “as is” value (including properties in development) per the most recent property appraisal. Property values for debt (senior and subordinate loans) are reported at the fair value of the loan, as opposed to the fair value of the underlying collateral (property). If the asset has not been appraised per the valuation policy, the asset is reported at fair market value.
- The total is as of 12/31/2017 and includes National Real Estate Advisors, LLC and National Real Estate Development, LLC staff.
- National has operated as an investment advisor since January 2010. In addition, National’s key managing members generally worked together at National’s predecessor firm, NEBF Real Estate from 2000 through 2010.