INDURE Fund

Diversified Real Estate Exposure

We provide access to a multifaceted portfolio spanning sectors and markets, helping investors participate in a broad range of real estate opportunities

Built for Long-Term Value Creation

We focus on investments where active development, repositioning, and asset management can drive growth across market cycles

National's Real Estate Expertise

We offer investors access to a professionally managed portfolio supported by decades of investment, development, and asset management experience

2010: Inception Date¹

148: Projects Delivered Since 2000

89: Properties

14 M SF: Operating Portfolio

$5.9 B: Gross Asset Value²

$2.8 B: Net Asset Value²

Sample Assets in Our Portfolio

The Ellery – 311 W. 42nd Street

New York, NY

The Artisan

Cleveland, OH

SDC Austin

Round Rock, TX

Project Spotlight

Aviator House is an office-to-residential conversion of a historic property at 1625 Massachusetts Avenue NW in Washington, D.C. The landmark building is being transformed into a distinctive apartment community while preserving its iconic aviation-inspired architecture.

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News & Insights

Press Releases

10/05/2026

Sabey Data Center Properties Secures Additional Investment from Ares to Support Continued Growth

Ares Secondaries funds’ total commitment to the platform now exceeds $500 million Seattle, WA and Washington, D.C. – Sabey Corporation (“Sabey”) and National Real Estate Advisors, LLC (“National”) today announced that Ares Secondaries funds (“Ares”) have expanded their investment in Sabey Data Center Properties, LLC (“SDCP”), an owner, developer, and operator of data centers across […]

Press Releases

09/30/2026

National Real Estate Advisors Promotes Ben Kanne to Managing Director, Investments

National Real Estate Advisors (“National”), an investment manager developing, operating, and managing commercial real estate and infrastructure projects across the United States, today announced the promotion of Ben Kanne to Managing Director, Investments. In this leadership role, Ben will help shape and execute the firm’s investment strategy and lead the sourcing, screening, underwriting, structuring, and […]

Press Releases

09/10/2026

National Announces Planned CEO Succession

Founder and CEO Jeffrey Kanne to Retire; Kevin Verdi Named President and Chief Executive Officer Effective January 2027 National Real Estate Advisors (“National”), an investment manager developing, operating, and managing commercial real estate and infrastructure projects across the United States, announced a planned leadership transition to support the firm’s long-term growth. In January 2027, Kevin […]

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As of 06/01/2026

National commenced operations on January 1, 2010. National’s key senior investment management personnel worked together at National’s predecessor firm, NEBF Real Estate, from 2000 through 2010. National was the result of a spin-out of an internal division of the NEBF, and all senior investment management, involved in real estate investments, transitioned from NEBF Real Estate to National.
INDURE’s assets under management reflected above represent the aggregate Gross Asset Values and Net Asset Values, respectively, in each case calculated as set forth below:
- 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 lender and 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). The GAV (Pro Rata) at Market is the ownership % interest of the Property-Level GAV.
  - Fund’s Share Property-Level GAV: The Fund’s share of GAV is reported at the Fund’s economic interest in the investment, which takes into consideration any applicable preferred returns and/or promoted interests, per the partnership operating agreements (if not wholly owned)
  - Fund-level GAV: Fund-Level GAV represents the Fund’s economic interest in real estate investments, cash, cash equivalents, and other Fund assets as defined by National. More information can be provided upon request.
- Net Asset Value (“NAV”): Net assets under management are calculated using the Fund’s Share Property-Level NAV of investments, plus cash and other assets and liabilities. The calculation is explained further below:
  - Property-Level NAV for Equity Investments: For equity investments, the Property- Level NAV equals the Property-Level GAV less marked-to-market debt.
  - Property-Level NAV for Debt Investments: The NAV for mezzanine and debt (senior and subordinate loans) investments is reported as the fair value of the loan.
  - Fund’s Share Property-Level NAV: The Fund’s share of NAV is reported at the Fund’s economic interest in the investment, which takes into consideration any applicable preferred returns and/or promoted interests, per the partnership operating agreements (if not wholly owned).
This is not an offering or the solicitation of an offer to purchase an interest in INDURE Build-to-Core Fund, LLC (“INDURE”). Any such offer or solicitation will be made only by means of a final offering memorandum and only in those jurisdictions where permitted by law. Investment in INDURE is available only to accredited investors, as such term is defined in rule 501(a) under the securities act of 1933, as amended.