# Divco West Real Estate Services, LLC

> Divco West Real Estate Services, LLC is an SEC-registered investment advisory firm in San Francisco, CA, registered since 2012, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated March 31, 2026.

- CRD: 156762
- Filed as: DIVCO WEST REAL ESTATE SERVICES, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: San Francisco, CA
- Filing period: October 2026
- Form ADV filing dated: March 31, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/156762
- AdvisorCensus page: https://advisorcensus.com/firm/divco-west-real-estate-services-llc-san-francisco-ca-156762

## Quick answers

**How is Divco West Real Estate Services, LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Divco West Real Estate Services, LLC reports these compensation arrangements: a percentage of assets under its management; performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Divco West Real Estate Services, LLC located?**
Divco West Real Estate Services, LLC's principal office is in San Francisco, CA, according to its Form ADV; the April 2026 filing also lists 7 other offices (Schedule D, Section 1.F).

**Is Divco West Real Estate Services, LLC registered with the SEC or a state?**
Divco West Real Estate Services, LLC is an SEC-registered investment advisory firm, registered since 2012. Status as filed: Approved. CRD 156762.

**How much does Divco West Real Estate Services, LLC manage?**
Divco West Real Estate Services, LLC reports $16,300,107,425 in regulatory assets under management in its Form ADV filing dated March 31, 2026 (44% discretionary).

**How have Divco West Real Estate Services, LLC's assets and staff changed since 2021?**
In the Form ADV data for Divco West Real Estate Services, LLC: Regulatory assets under management: $11,880,546,000 in the October 2021 data and $16,300,107,425 in the October 2026 data, up 37%. Total employees: 138 in October 2021 and 215 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Divco West Real Estate Services, LLC serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (31).

**Does Divco West Real Estate Services, LLC report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/156762

**What changed in Divco West Real Estate Services, LLC's recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 61 to 67.

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Regulatory assets under management (Item 5.F)
- Total: $16,300,107,425
- Discretionary: $7,119,386,000
- Non-discretionary: $9,180,721,425

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 31 | $15,152,577,425 |
| State or municipal government entities (including government pension plans) | Fewer than 5 | $1,147,530,000 |
| Insurance companies | Fewer than 5 | $0 |
| Sovereign wealth funds and foreign official institutions | Fewer than 5 | $0 |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)

### Firm details
- Registered since: 2012 (14 years)
- Employees: 215 total, 67 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA, DC, MA, NY, TX
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the April 2026 filing
- Austin, TX
- Beverly Hills, CA
- Cambridge, MA
- Irvine, CA
- Menlo Park, CA
- New York, NY
- Washington, DC

### Websites listed on Form ADV (Item 1.I)
- 24fiftydenver.com
- 325hudson.com
- 441morganave.com
- 540madison.com
- 550terry.com
- bouldincreekoffice.com
- cambridgecrossing.com
- cxsummernights.com
- divcore.com
- divcoresummit.com
- divcowest.com
- flickr.com/photos/cxcambridge/albums
- herstorycx.com
- onelincolnboston.com
- peninsulacrossing.com
- sandhillcollection.com
- vimeo.com/cxcambridge
- vimeo.com/divcowest
- yaleusa.com
- Facebook @CXCAMBRIDGE
- Instagram @CXCAMBRIDGE
- LinkedIn @DIVCOWEST
- LinkedIn @cxcambridge
- LinkedIn @divcore

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $11,880,546,000 | 138 | March 31, 2021 |
| October 2022 | $15,183,923,000 | 158 | July 25, 2022 |
| October 2023 | $16,358,243,000 | 176 | March 31, 2023 |
| October 2024 | $15,328,320,000 | 186 | May 10, 2024 |
| October 2025 | $15,742,896,000 | 198 | March 31, 2025 |
| October 2026 | $16,300,107,425 | 215 | March 31, 2026 |

Regulatory assets under management: $11,880,546,000 in the October 2021 data and $16,300,107,425 in the October 2026 data, up 37%.
Total employees: 138 in October 2021 and 215 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 61 to 67.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Divco West Real Estate Services, LLC (CRD 156762): Form ADV filing data as of October 2026.