Divco West Real Estate Services, LLC (San Francisco)

Name: Divco West Real Estate Services, LLC
Address: 575 Market Street, San Francisco, CA, 94105
Telephone: 415-284-5700

Divco West Real Estate Services, LLC is a large advisory firm based in San Francisco. It manages $5.63 billion of regulatory assets for 11 client accounts. It has been registered with the SEC as an adviser since 2012 and has operated in the jurisdictions of California, District of Columbia, Massachusetts, and New York.

Divco West Real Estate Services provides portfolio management for pooled investment vehicles. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Divco West Real Estate Services: assets under management

The assets under management (AUM) of Divco West Real Estate Services, LLC is $5.63 billion. The firm's AUM has grown by 272% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $3.55 billion in discretionary accounts and $2.08 billion in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $591.5 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $416.22 million.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Divco West Real Estate Services, LLC for their services and products based on a percentage of assets under management and performance-based fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Michael L Carp serves?

The firm provides services to insurance companies and pooled investment vehicles. The largest group of clients of Michael L Carp is pooled investment vehicles with 11 clients and $5.63 billion of assets under management. Among the 8 most similar advisory firms, Divco West Real Estate Services has the highest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $5.63 billion for 12 clients. None of the firm’s clients are foreign persons or businesses.

Divco West Real Estate Services also advises several private funds. Namely, eleven real estate funds. The minimum investment commitment required of non-related persons ranges from $0 to $10,000,000.

Careers at Divco West Real Estate Services, LLC

The company employs 118 people that are either part- or full-time employees. 23 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Michael L Carp has been acting as President since 1 Apr 2012. Robert Gil Mashaal has served as the Chief Investment Officer since 1 Apr 2012 and Stuart Zachary Shiff is the Chief Executive Officer of Divco West Real Estate Services, LLC family office. Steven Alan Dietsch joined the executive team most recently as the Senior Managing Director.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Stuart Zachary Shiff	Chief executive officer	1 Apr 2006	Other	5905466
Robert Gil Mashaal	Principal	1 Apr 2006	Other	1623564
Steven Alan Dietsch	Chief financial officer	1 Apr 2006	Other	5905467
Jacqueline Ursula Moore	General counsel	1 Apr 2006	Other	1297110
Edwin Leonard Knetzger	Chief operating officer	1 Apr 2006	Other	841004
Stephen David Novick	Principal	1 Aug 2006	Other	5905935
Llc Divcore	Member	1 Jan 2009	25% - 50%	27-1142623
Llc Shiff Investment Company	Member	1 Jan 2009	50% - 75%	27-1142570
Jacqueline Ursula Moore	General counsel	1 Feb 2012	Other	1297110
Owen Radford Dallas	Chief compliance officer	1 Feb 2012	Other	6029394
Robert Gil Mashaal	Chief investment officer	1 Apr 2012	Other	1623564
Michael Frederic Carp	President, chief operating officer	1 Apr 2012	Other	702463
Edwin Leonard Knetzger	Vice chairman	1 Apr 2012	Other	841004
Michael L Carp	President	1 Apr 2012	Other	702463
Jennifer Tracey Dickinson	Chief compliance officer	1 Jun 2012	Other	6082325
Benjamin Bernard Buckwalter	Chief compliance officer	1 Apr 2013	Other	6184314
Valerie Yvette Pierrat	Chief compliance officer	1 Aug 2015	Other	2030023
Jacqueline Ursula Moore	Senior managing director	1 May 2016	Other	1297110
Megan Payne Sherman	Chief compliance officer	1 Jun 2017	Other	6808609
Steven Alan Dietsch	Senior managing director	1 Mar 2018	Other	5905467
Kenneth David Wong	Chief financial officer	1 Mar 2018	Other	6931207

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
Stuart Zachary Shiff	Member	1 Jan 2009	75% - 100%	5905466

Based in San Francisco

The principal office where Divco West Real Estate Services, LLC performs its advisory services is located at 575 Market Street, San Francisco, CA 94105, which is also the mailing address of the firm. An additional office of the firm is in Beverly Hills, CA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 415-284-5700 or by fax 415-284-5817. The normal business hours are 8:30 am-5:30 pm on Monday - Friday. You can find more information about the New York firm at divcowest.com and its LinkedIn profile.