Berkshire Property Advisors, LLC (Boston)

Name: Berkshire Property Advisors, LLC
Address: One Beacon Street, Boston, MA, 02108 3116
Telephone: 617-646-2300

Berkshire Property Advisors, LLC is a large advisory firm based in Boston. It manages $9.67 billion of regulatory assets for 19 client accounts. It has been registered with the SEC as an adviser since 2012 and has operated in the jurisdictions of California, Massachusetts, New York, and Texas.

Berkshire Property Advisors provides portfolio management for pooled investment vehicles and portfolio management for businesses and institutional clients. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Berkshire Property Advisors: assets under management

The assets under management (AUM) of Berkshire Property Advisors, LLC is $9.67 billion. The firm's AUM has grown by 129% since the beginning of its operation, and $7.89 million of the total AUM is attributable to clients outside of the United States.

The firm manages $4.15 billion in discretionary accounts and $5.52 billion in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $414.81 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $613.27 million.

Berkshire Property Advisors has custody of $1.97 billion in cash and securities for 18 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in other assets the most. They account for 100% of the total AUM.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Berkshire Property Advisors, 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 Joseph Frederick Azrack serves?

The only and largest group of clients of Joseph Frederick Azrack is pooled investment vehicles with 18 clients and $9.66 billion of assets under management. Among the 11 most similar advisory firms, Berkshire Property Advisors has the 3rd highest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $9.66 billion for 18 clients. 5% of the firm’s clients are foreign persons or businesses.

Berkshire Property Advisors also advises several private funds. Namely, eighteen real estate funds. The minimum investment commitment required of non-related persons ranges from $0 to $10,000,000.

Careers at Berkshire Property Advisors, LLC

The company employs 166 people that are either part- or full-time employees. 20 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.

Joseph Frederick Azrack has been acting as President since 1 Sep 2014. C. Ronald Blankenship joined the executive team most recently as the Director, Chairman.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Christopher Mark Nichols	Chief compliance officer, managing director and head of corporate finance	1 Jul 2002	Other	6027162
Mary Elizabeth Bloom	General counsel, managing director	1 Jul 2002	Other	6027547
David John Olney	Managing director, head of multifamily investments	1 Jul 2002	Other	6027546
David Charles Quade	Executive vice president	1 Jul 2002	Other	1755192
Douglas Stephen Krupp	Co-founder, vice chairman	1 Jul 2002	Other	1071875
George David Krupp	Co-founder, chairman	1 Jul 2002	Other	1071876
Inc. Bpa Manager	Non-member manager	1 Dec 2004	Other	81-0660216
L.L.C. Berkshire Group	Member	1 Mar 2010	75% - 100%	80-0559290
L.P. Berkshire Property Advisors	Member	1 Mar 2010	75% - 100%	80-0559290
Shereen Penelope Jones	Chief financial officer	1 Jan 2011	Other	2156522
Charles Bertrand Leitner Iii	Ceo	1 Oct 2013	Other	4381078
Joseph Frederick Azrack	Director	1 Sep 2014	Other	2272339
C. Ronald Blankenship	Director	1 Sep 2014	Other	4354074
Jeanne Robin Myerson	Director	1 Sep 2014	Other	6404407
Alan Preston King	Managing director, head of property operations	1 Dec 2015	Other	6631877
Lawrence Douglas Ellman	Managing director, head of venture invsestments	1 Dec 2015	Other	6050031
C. Ronald Blankenship	Director, chairman	1 Jan 2018	Other	4354074

Indirect Owners

The SEC currently registers 13 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
George David Krupp	Shareholder	1 Apr 1987	50% - 75%	1071876
Douglas Stephen Krupp	Shareholder	1 Apr 1987	50% - 75%	1071875
George David Krupp	Shareholder	1 Dec 2004	50% - 75%	1071876
Douglas Stephen Krupp	Shareholder	1 Dec 2004	50% - 75%	1071875
Douglas Stephen Krupp	Member	1 Aug 2007	75% - 100%	1071875
George David Krupp	Member	1 Aug 2007	75% - 100%	1071876
Kgp 1 Incorporated	General partner	1 Mar 2010	Other	04-2962324
Llc Dk Bpa	Limited partner	1 Mar 2010	25% - 50%	45-4524433
Llc Gk Bpa	Limited partner	1 Mar 2010	25% - 50%	45-4524346
Kgp 1 Incorporated	General partner	1 Aug 2014	Other	04-2962324
Llc Dk Bpa	Limited partner	1 Aug 2014	25% - 50%	45-4524433
Llc Gk Bpa	Limited partner	1 Aug 2014	25% - 50%	45-4524346
L.P. Berkshire Group	Member	1 Aug 2014	75% - 100%	47-1499236

Based in Boston

The principal office where Berkshire Property Advisors, LLC performs its advisory services is located at One Beacon Street, Boston, MA 02108 3116, which is also the mailing address of the firm. An additional office of the firm is in Dallas, TX. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 617-646-2300 or by fax 617-646-2370. The normal business hours are 8:45 a.m - 5:30 p.m. on Monday - Friday. You can find more information about the New York firm at berkshirepropertyadvisors.com and its LinkedIn profile.