{ "crd_number": 288195, "slug": "fpa-real-estate-advisers-group-llc-irvine-ca-288195", "primary_business_name": "FPA REAL ESTATE ADVISERS GROUP, LLC", "legal_name": "FPA REAL ESTATE ADVISERS GROUP, LLC", "dbas": [ "FPA MULTIFAMILY" ], "city": "Irvine", "state": "CA", "country": "United States", "cbsa_code": "31080", "metro": { "cbsa_code": "31080", "common_name": "Los Angeles", "msa_name": "Los Angeles-Long Beach-Anaheim, CA", "path": "/advisors/ca/los-angeles" }, "registration_type": "sec", "registration_status": "Approved", "registration_date": "2017-04-17", "years_registered": 9, "period": "2026-10-01", "filing_date": "2026-03-31", "carried_forward": false, "raum_total": 7970799113.0, "raum_discretionary": 7970799113.0, "raum_non_discretionary": 0.0, "raum_band": "over_5b", "raum_band_label": "Over $5 billion", "total_employees": 110, "advisory_employees": 13, "client_count_bucket": null, "clients_by_type": { "pooled_investment_vehicles": { "raum": 7970799113.0, "count": 33 } }, "compensation_types": [ "other", "performance_based" ], "advisory_activities": [ "portfolio_management_pooled_vehicles" ], "wrap_fee_participant": false, "disclosure_yes_count": 3, "states_registered": [ "CA" ], "websites": [ "https://fpamf.com", "https://linkedin.com/company/fpamultifamily" ], "iapd_url": "https://adviserinfo.sec.gov/firm/summary/288195", "disclosure_items": [ { "item": "11.C(2)", "question": "Has the SEC or the CFTC ever found that the firm or an advisory affiliate was involved in a violation of SEC or CFTC regulations or statutes?" }, { "item": "11.C(4)", "question": "Has the SEC or the CFTC ever entered an order against the firm or an advisory affiliate in connection with investment-related activity?" }, { "item": "11.C(5)", "question": "Has the SEC or the CFTC ever imposed a civil money penalty on the firm or an advisory affiliate, or ordered the firm or an advisory affiliate to cease and desist from an activity?" } ], "city_as_filed": "IRVINE", "url": "https://advisorcensus.com/firm/fpa-real-estate-advisers-group-llc-irvine-ca-288195", "display_name": "FPA Real Estate Advisers Group, LLC", "summary": "FPA Real Estate Advisers Group, LLC is an SEC-registered investment advisory firm in Irvine, CA, registered since 2017, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated March 31, 2026.", "citation": "AdvisorCensus. FPA Real Estate Advisers Group, LLC (CRD 288195): Form ADV filing data as of October 2026.", "registration_type_label": "SEC-registered investment adviser", "compensation_labels": [ "Performance-based fees", "Other" ], "advisory_activity_labels": [ "Portfolio management for pooled investment vehicles (other than investment companies)" ], "quick_answers": [ { "q": "How is FPA Real Estate Advisers Group, LLC compensated?", "a": "On its Form ADV (Item 5.E, October 2026), FPA Real Estate Advisers Group, LLC reports these compensation arrangements: performance-based fees; other." }, { "q": "Where is FPA Real Estate Advisers Group, LLC located?", "a": "FPA Real Estate Advisers Group, LLC's principal office is in Irvine, CA, according to its Form ADV; the April 2026 filing also lists 1 other office (Schedule D, Section 1.F)." }, { "q": "Is FPA Real Estate Advisers Group, LLC registered with the SEC or a state?", "a": "FPA Real Estate Advisers Group, LLC is an SEC-registered investment advisory firm, registered since 2017. Status as filed: Approved. CRD 288195." }, { "q": "How much does FPA Real Estate Advisers Group, LLC manage?", "a": "FPA Real Estate Advisers Group, LLC reports $7,970,799,113 in regulatory assets under management in its Form ADV filing dated March 31, 2026 (100% discretionary)." }, { "q": "How have FPA Real Estate Advisers Group, LLC's assets and staff changed since 2021?", "a": "In the Form ADV data for FPA Real Estate Advisers Group, LLC: Regulatory assets under management: $6,466,097,588 in the October 2021 data and $7,970,799,113 in the October 2026 data, up 23%. Total employees: 15 in October 2021 and 110 in October 2026. Assets under management move with markets as well as with clients coming and going." }, { "q": "What types of clients does FPA Real Estate Advisers Group, LLC serve?", "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (33)." }, { "q": "Does FPA Real Estate Advisers Group, LLC report any disciplinary disclosures?", "a": "Reports 3 disclosure items on Form ADV Item 11: yes answers to 11.C(2) (SEC or CFTC finding of a violation), 11.C(4) (SEC or CFTC order), and 11.C(5) (SEC or CFTC civil money penalty or cease-and-desist order). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/288195" }, { "q": "Does FPA Real Estate Advisers Group, LLC state an account minimum?", "a": "Its Form ADV Part 2A brochure dated March 31, 2026 says: \"The minimum capital commitment for investments in our Funds is $1,000,000, subject to lesser amounts being accepted by FPA REAG or the Fund GPs, at their discretion, or as otherwise specified in the Fund’s governing documents.\"" }, { "q": "What changed in FPA Real Estate Advisers Group, LLC's recent Form ADV filings?", "a": "In the April 2026 filing data: Employees performing advisory functions went from 15 to 13." } ], "filing_history": [ { "period": "2021-10-01", "regulatory_assets_under_management": 6466097588.0, "total_employees": 15, "filing_date": "2021-03-31" }, { "period": "2022-10-01", "regulatory_assets_under_management": 6282997635.0, "total_employees": 15, "filing_date": "2022-03-31" }, { "period": "2023-10-01", "regulatory_assets_under_management": 7940971326.0, "total_employees": 58, "filing_date": "2023-05-30" }, { "period": "2024-10-01", "regulatory_assets_under_management": 5656052408.0, "total_employees": 89, "filing_date": "2024-09-12" }, { "period": "2025-10-01", "regulatory_assets_under_management": 7688525310.0, "total_employees": 96, "filing_date": "2025-05-19" }, { "period": "2026-10-01", "regulatory_assets_under_management": 7970799113.0, "total_employees": 110, "filing_date": "2026-03-31" } ], "recent_changes": [ { "period": "2026-04-01", "period_label": "April 2026", "notes": [ "Employees performing advisory functions went from 15 to 13." ] } ], "fees_from_brochure": { "source": "Form ADV Part 2A brochure dated March 31, 2026", "provided_by_the_firm": false, "tiers": [], "flat_rate": null, "stated_range": null, "stated_maximum": null, "account_minimum": "$1,000,000", "account_minimum_may_be_waived": true, "minimum_annual_fee": null, "planning_fees": [], "figures": [ { "label": "Account minimum", "statements": [ "Account minimum: $1,000,000 (the brochure says it may be waived or negotiated)" ], "quotes": [ "The minimum capital commitment for investments in our Funds is $1,000,000, subject to lesser amounts being accepted by FPA REAG or the Fund GPs, at their discretion, or as otherwise specified in the Fund’s governing documents." ] } ], "values": { "tiers": [], "range_pct": null, "max_pct": null, "account_minimum": 1000000.0, "minimum_annual_fee": null, "planning": [] }, "quotes": [ "The minimum capital commitment for investments in our Funds is $1,000,000, subject to lesser amounts being accepted by FPA REAG or the Fund GPs, at their discretion, or as otherwise specified in the Fund’s governing documents." ], "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable." }, "custodians": [], "custodians_note": null, "markdown_url": "https://advisorcensus.com/firm/fpa-real-estate-advisers-group-llc-irvine-ca-288195.md", "clients": [ { "type": "pooled_investment_vehicles", "label": "Pooled investment vehicles (other than investment companies and business development companies)", "count": 33, "fewer_than_5": false, "raum": 7970799113.0 } ], "disclosure_line": "Reports 3 disclosure items on Form ADV Item 11.", "indexable": true, "suppressed": false, "claimed": false, "enhanced": false, "provided_by_the_firm": null, "source": { "name": "Form ADV", "as_of": "2026-10-01", "iapd_url": "https://adviserinfo.sec.gov/firm/summary/288195", "operator": "BH Monitor Services, LLC", "license": "https://creativecommons.org/licenses/by/4.0/", "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data" } }