Realm, a network of roughly 100 families, deployed $ 100 million into Northern California real estate over six months. One San Francisco office building changed hands at 21% of its previous sale price, according to CNBC.
This is not classic bottom-fishing. It is long-term capital stepping into a market that has reset.
Declaration Partners, backed by David Rubenstein’s family office, closed a $ 303 million real estate fund and signed a $ 50.1 million master lease on three SoHo storefronts with a term running to 2091. Chaz Lazarian’s Elle Family Office acquired the former Home Depot headquarters in Atlanta for about 18 cents on the dollar versus its 2019 private equity purchase price. Lido Advisors is buying multifamily assets in Salt Lake City, Denver, and Dallas at 20% to 30% below replacement cost.
The pattern is hard to miss. Family offices are leaning into deals that institutional funds usually avoid: assets with longer hold periods, slower business plans, or entry points that look too ugly for quarterly reporting.
J.P. Morgan Private Bank’s February survey supports that view. Thirty-five percent of U.S. family offices said they plan to increase real estate exposure, compared with 24% internationally. Among respondents who cited inflation as a top portfolio risk, average real estate allocations reached 16.3%, about double the broader respondent pool.
Traditional managers often need exits in two to three years. Family offices can underwrite 25-year leases. That is the advantage. Not better access. Not better information. Time horizon.
Are your governance and liquidity structures built to capture that?
This is not classic bottom-fishing. It is long-term capital stepping into a market that has reset.
Declaration Partners, backed by David Rubenstein’s family office, closed a $ 303 million real estate fund and signed a $ 50.1 million master lease on three SoHo storefronts with a term running to 2091. Chaz Lazarian’s Elle Family Office acquired the former Home Depot headquarters in Atlanta for about 18 cents on the dollar versus its 2019 private equity purchase price. Lido Advisors is buying multifamily assets in Salt Lake City, Denver, and Dallas at 20% to 30% below replacement cost.
The pattern is hard to miss. Family offices are leaning into deals that institutional funds usually avoid: assets with longer hold periods, slower business plans, or entry points that look too ugly for quarterly reporting.
J.P. Morgan Private Bank’s February survey supports that view. Thirty-five percent of U.S. family offices said they plan to increase real estate exposure, compared with 24% internationally. Among respondents who cited inflation as a top portfolio risk, average real estate allocations reached 16.3%, about double the broader respondent pool.
Traditional managers often need exits in two to three years. Family offices can underwrite 25-year leases. That is the advantage. Not better access. Not better information. Time horizon.
Are your governance and liquidity structures built to capture that?