What Some of the Big Real Estate Families are Doing.

It is common knowledge that family offices like to invest together, including in different industries. However, this also includes investing together in real estate as well. So what are some of the larger real estate families doing, and who allows other family offices to invest with them? Below is an outline of some of the things that are happening, and at the bottom you will see what their family offices are doing.?

The Elghanayans are one of the largest and most influential families in New York City. Their father, Frederick, started the real estate empire there in the 1950s. The family now controls 2.5 million square feet of office space across New York and Washington, D.C. Its latest venture is the Pacific Park complex in Brooklyn, with approximately 800 apartments. It is a significant project for the Elghanayans, and they are excited to see the city's skyline reflected in their new projects.

Silverstein Properties has developed, owned, and managed over 35 million square feet of space in New York for more than six decades. The company started as a small, locally-owned development firm and has grown into one of the world's largest privately-held real estate development firms. Its diverse portfolio includes office, residential, hotel, retail, and hotel properties. In addition, Silverstein has opened seven World Trade Center towers, including the four-star hotel, part of the company's first development project.

Founded in New York, Silverstein Properties continues to expand across the country. In July 2020, the firm closed on a development site adjacent to Amazon's headquarters. In September, it bought the U.S. Bank Tower in Downtown Los Angeles, a major office building. It will break ground on Apex@Meadows in Las Vegas in March 2021. Cushman & Wakefield brokered the transaction.

The team's leadership is comprised of members with varying experiences. Jordan Ross leads Hyperion's sourcing and investment activities. He has been instrumental in over $6 billion worth of real estate transactions. His background includes projects that range from ground-up development to cash-flowing office properties. He is responsible for contract administration and collaborates closely with asset management.

Besides investing in real estate, the Rudin's have also launched their own family office. The firm's real estate portfolio includes 36 residential buildings throughout New York City. Its chairman, Bill Rudin, declined to comment.?In addition to real estate, the Silverstein family office also invests in other sectors, such as technology, biotech, and venture capital.?Besides real estate, Silverstein Properties is also investing in technology and the family's wealth.

While multifamily rentals remain the most popular property type for most family offices, the firm collaborates with other family offices to invest in a broader range of real estate assets. For example, the Steinmauer Family's real estate arm is developing a 70-unit workforce housing complex in Miami and a shopping center in Texas with a grocery store.?Meanwhile, the Silversteins are working with other European families to invest in real estate.