Overview
The Adviser was formed in 2003 and registered with the SEC under the Investment Advisers Act
of 1940, as amended (the “Advisers Act”), in 2003.
The Adviser is a wholly-owned, direct subsidiary of Morgan Stanley (together with its affiliates,
“Morgan Stanley”).
As of December 31, 2023, the Adviser had approximately $41,537,592,989 in real estate assets
under management, all of which are managed on a discretionary basis.1
The Adviser and its affiliates provide real estate-related investment advisory services to Prime
Property Fund, LLC (the “Fund”). These advisory services consist primarily of advising and
making investment decisions with respect to the acquisition, development, asset management,
financing and disposition of equity interests in real estate and real estate-related preferred equity
and debt investments as well as various types of real estate-related securities (such as interests in
real estate investment trusts and limited partnerships) and investment of short term securities and
cash pending investment in equity real estate, or payments of indebtedness, or expenses or other
obligations of its advisory clients.
In providing its services to each of its clients (which includes the Fund), the Adviser formulates
such client’s investment objectives, directs and manages the investment and reinvestment of assets,
and provides reports to investors. The Adviser manages the assets of each advisory client in
accordance
with the terms of the governing documents applicable to such client.
The Adviser’s affiliation with Morgan Stanley, including Morgan Stanley Real Estate Investing,
the real estate investing business of Morgan Stanley, together with its subsidiaries and the
supporting units dedicated to the real estate investing business (collectively, “MSREI”), provides
it with access to valuable relationships, market knowledge, and financial and operating expertise.
Morgan Stanley has been engaged in the real estate business since 1969 and the investing
businesses employ professionals worldwide who have demonstrated a proven ability to source
deals, structure complex transactions and identify multiple exit strategies which enhance the
Fund’s ability to meet its return objectives. The activities of the Adviser described in this Brochure
may be performed by the Adviser or by one of its affiliates that acts as a general partner, investment
adviser or managing member of the Fund.
Any references herein to the "general partner" of the Fund should be deemed to be referring to the
board of directors of the Fund or the Adviser, as applicable and as the context may require.
1 Assets under management represents gross fair market value of the real estate assets managed by the Adviser on behalf of its clients, presented
at direct ownership interest. Assets under management for certain minority interests represents the clients’ equity investment in the entity.