Almanac Realty Investors

About Almanac

Since 1996, Almanac’s primary activity has been making growth capital investments into private and public companies that own and operate real estate in North America. Almanac-managed funds have committed more than $7.9 billion to 53 companies.¹

Almanac’s portfolio companies are structured to combine proven management teams within a specific real estate sector together with ownership of focused portfolios of real estate assets and interests. These companies are governed by a board of directors consisting primarily of representatives from the management teams and Almanac, with a focus on protecting and growing shareholder value, generating dividends, setting strategy, allocating capital and working with management to optimize resources.

Almanac Provides for
Our Investors

Alignment of interests with each company’s management team

Input into major strategic, investment and staffing decisions

Transparency into the company’s performance and operations

Almanac Provides for
Management Teams

Access to significant long-term, flexible capital

Ability to efficiently pursue growth plans and pipeline

Deep expertise in corporate and real estate finance, capital markets, systems and organizational development

Matt Kaplan, Managing Partner, Almanac Realty Investors, talks to Greg McKinnon, Director of Research at PREA about the issues involved in investing in real estate operating companies

Our History

Almanac Realty Investors traces its roots back to 1981, when the firm’s predecessor was established as the real estate advisory business of Rothschild North America, in partnership with the Rothschild family.

1981

John McGurk and the Rothschild family

John McGurk, in partnership with the Rothschild family, forms the real estate investment and advisory business of Rothschild North America. The group forms an opportunity fund, New Court Properties.
1987

Rothschild Property Investors

Formed to continue the firm's opportunistic investment activities.
1988

Pike Aloian joins the firm

Pike Aloian begins working at Rothschild Realty.
1989

Partnership formed with a U.S. public pension fund

Ultimately invests $430 million to create what becomes known as Charter Oak, a national outlet mall platform.
1990

Matthew Kaplan joins the firm

Matthew Kaplan begins working at Rothschild Realty.
1994

Investment in real estate strategy

The firm begins investing family and partner capital in an equity long/short real estate securities strategy.
1996

Partnership formed with a large U.S. public pension fund

For what becomes a $317 million fund (ARS I) and the Five Arrows Realty Securities (later renamed Almanac Realty Securities) series of funds; invests in six companies.
1998

ARS II closes with $318 million of commitments

Invests in five companies as well as open market public securities trading.
1999

ARS III closes with $232 million of commitments

Invests in three companies.
2004

ARS IV, the firm's first commingled institutional fund

Closes with $445 million of commitments; invests in six companies.
2007

Independent Partnership Formed

Form an independent partnership to continue the investment management business using the name Rothschild Realty Managers.
2008

ARS V closes with $839 million of commitments

Invests in seven companies as well as open market public securities trading.
2011

Almanac Realty Investors, LLC

The firm's name is changed to Almanac Realty Investors, LLC.
2012

Andrew Silberstein admitted to the partnership

Andrew Silberstein joins Almanac’s investment committee.
2012

ARS VI closes with $819 million of commitments

Invests in six companies. Almanac Realty Investors registered as a registered investment adviser with the Securities and Exchange Commission.
2014

Almanac Realty Securities Canada I

L.P. is formed to expand the firm's investment platform to Canada.
2015

ARS VII closes with $1.26 billion of commitments

Invested in seven companies.
2016

Justin Hakimian admitted to the partnership

Justin Hakimian joins Almanac’s investment committee.
2017

Public Securities Strategy Launched

Formed to formally launch a value-oriented, REIT/real estate public securities investment platform.
2018

ARS VIII closes with $1.9 billion of commitments

Currently invested in eight companies.
2019

Josh Overbay admitted to the partnership

Josh Overbay joins Almanac’s investment committee.
2020

Neuberger Berman Acquisition

Neuberger Berman acquires Almanac Realty Investors, LLC.
2020

David Haltiner admitted to the partnership

David Haltiner joins Almanac’s investment committee.