Real Estate Direct Asset Management for High New Worth Individuals and Family Businesses

I'm currently exploring the many different career options in CRE. I was wondering if there were real estate advisory/investment management firms that solely cater to HNW individuals and family businesses, specifically those with little to zero prior exposure to real estate yet seek to diversify their assets. I know there are asset management firms that cater to these types of people and businesses yet I have found that most of them deal with funds and don't allow the investor to have as much of a direct contact and say in the property(e.g: 5-7 yr hold). In many ways, I am wondering that if a HNW individual were seeking expertise and a guiding hand in direct RE investing with regards to the acquisition itself and managing the property over many years(e.g: they want to buy a multi-family and hold/manage for as long as possible/pass down to next gen), who would do they approach? An experienced broker with Asset Management experience or are there real estate management firms that specialize in this, kind of like private wealth management?

 
Best Response

These type of clients would just use a typical commercial brokerage to handle their property management, sales/leasing and financials. Real estate isn't as passive as investment as equities. Owners are typically involved in most decisions as it pertains to their property, i.e new tenants, new service contracts, approving budgets....I don't think I've ever met and owner whether it be private or institutional that allows the managers and brokers to make substantial decisions on their behalf, they almost always want to approve anything of importance.

giddy up
 

Asset Management and property management are also different things....asset managers are typically an employee of the ownership group and their job is to watch over the property and make sure it is hitting its financial goals....the property manager is usually an employee of a brokerage like CBRE or JLL and they deal with issues at the property level on behalf of the client such as new service contracts, tenant issues and working with the broker to lease up the building.

giddy up
 

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