As has been discussed in a previous blog, the majority of all private equity real estate firms worldwide are headquartered in the US. This blog will examine the most important cities for US real estate firms. New York is home to by far the largest number of firms, with 109 based there. These include the likes of Blackstone Real Estate Advisors, Morgan Stanley Real Estate and Goldman Sachs Real Estate Principal Investment Area. There are 32 firms based in Chicago, including LaSalle Investment Management. Amongst the 27 firms headquartered in Boston are Beacon Capital Partners, TA Associates Realty and AEW Capital Management. Completing the top five are Los Angeles and San Francisco, which are the base for 26 and 19 firms respectively. Notable West Coast-headquartered firms include Colony Capital and CB Richard Ellis Investors. 44% of all US-based private equity real estate firms are headquartered in these five cities.
Elsewhere, 17 firms are headquartered in Dallas, including Lone Star Funds, 10 in Philadelphia, and eight in both Denver and Washington DC.
Preqin's Real Estate Online has information on almost 900 fund managers worldwide including background, key contacts, funds raised and acquisition criteria.