{
  "crd_number": 142047,
  "slug": "msref-real-estate-advisor-inc-new-york-ny-142047",
  "primary_business_name": "MSREF REAL ESTATE ADVISOR, INC.",
  "legal_name": "MSREF REAL ESTATE ADVISOR, INC.",
  "dbas": [],
  "city": "New York",
  "state": "NY",
  "country": "United States",
  "cbsa_code": "35620",
  "metro": {
    "cbsa_code": "35620",
    "common_name": "New York",
    "msa_name": "New York-Newark-Jersey City, NY-NJ",
    "path": "/advisors/ny/new-york"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2006-12-05",
  "years_registered": 19,
  "period": "2026-10-01",
  "filing_date": "2026-07-24",
  "carried_forward": false,
  "raum_total": 15770404509.0,
  "raum_discretionary": 15387852033.0,
  "raum_non_discretionary": 382552476.0,
  "raum_band": "over_5b",
  "raum_band_label": "Over $5 billion",
  "total_employees": 372,
  "advisory_employees": 170,
  "client_count_bucket": null,
  "clients_by_type": {
    "pooled_investment_vehicles": {
      "raum": 15770404509.0,
      "count": 26
    }
  },
  "compensation_types": [
    "other",
    "percentage_of_aum",
    "performance_based"
  ],
  "advisory_activities": [
    "portfolio_management_businesses_institutional",
    "portfolio_management_pooled_vehicles"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 3,
  "states_registered": [
    "GA"
  ],
  "websites": [
    "https://morganstanley.com/IM"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/142047",
  "disclosure_items": [
    {
      "item": "11.D(1)",
      "question": "Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate made a false statement or omission, or was dishonest, unfair, or unethical?"
    },
    {
      "item": "11.D(2)",
      "question": "Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate was involved in a violation of investment-related regulations or statutes?"
    },
    {
      "item": "11.D(4)",
      "question": "In the past ten years, has another federal regulator, a state regulator, or a foreign financial regulator entered an order against the firm or an advisory affiliate in connection with investment-related activity?"
    }
  ],
  "city_as_filed": "NEW YORK",
  "url": "https://advisorcensus.com/firm/msref-real-estate-advisor-inc-new-york-ny-142047",
  "display_name": "Msref Real Estate Advisor, Inc.",
  "summary": "Msref Real Estate Advisor, Inc. is an SEC-registered investment advisory firm in New York, NY, registered since 2006, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated July 24, 2026.",
  "citation": "AdvisorCensus. Msref Real Estate Advisor, Inc. (CRD 142047): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Performance-based fees",
    "Other"
  ],
  "advisory_activity_labels": [
    "Portfolio management for pooled investment vehicles (other than investment companies)",
    "Portfolio management for businesses (other than small businesses) or institutional clients"
  ],
  "quick_answers": [
    {
      "q": "How is Msref Real Estate Advisor, Inc. compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Msref Real Estate Advisor, Inc. reports these compensation arrangements: a percentage of assets under its management; performance-based fees; other."
    },
    {
      "q": "Where is Msref Real Estate Advisor, Inc. located?",
      "a": "Msref Real Estate Advisor, Inc.'s principal office is in New York, NY, according to its Form ADV; the August 2026 filing also lists 16 other offices (Schedule D, Section 1.F)."
    },
    {
      "q": "Is Msref Real Estate Advisor, Inc. registered with the SEC or a state?",
      "a": "Msref Real Estate Advisor, Inc. is an SEC-registered investment advisory firm, registered since 2006. Status as filed: Approved. CRD 142047."
    },
    {
      "q": "How much does Msref Real Estate Advisor, Inc. manage?",
      "a": "Msref Real Estate Advisor, Inc. reports $15,770,404,509 in regulatory assets under management in its Form ADV filing dated July 24, 2026 (98% discretionary)."
    },
    {
      "q": "How have Msref Real Estate Advisor, Inc.'s assets and staff changed since 2021?",
      "a": "In the Form ADV data for Msref Real Estate Advisor, Inc.: Regulatory assets under management: $11,354,524,144 in the October 2021 data and $15,770,404,509 in the October 2026 data, up 39%. Total employees: 258 in October 2021 and 372 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Msref Real Estate Advisor, Inc. serve?",
      "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (26)."
    },
    {
      "q": "Does Msref Real Estate Advisor, Inc. report any disciplinary disclosures?",
      "a": "Reports 3 disclosure items on Form ADV Item 11: yes answers to 11.D(1) (another regulator's finding of a false statement or omission, or of dishonest, unfair, or unethical conduct), 11.D(2) (another regulator's finding of a violation), and 11.D(4) (another regulator's order in the past ten years). 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/142047"
    },
    {
      "q": "Does Msref Real Estate Advisor, Inc. state an account minimum?",
      "a": "Its Form ADV Part 2A brochure dated May 8, 2026 says: \"Generally, Fund investor s must invest a minimum of $10 million, unless otherwise approved.\""
    },
    {
      "q": "What changed in Msref Real Estate Advisor, Inc.'s recent Form ADV filings?",
      "a": "In the August 2026 filing data: Updated its list of owners and control persons (Schedule A)."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 11354524144.0,
      "total_employees": 258,
      "filing_date": "2021-04-29"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 12658412759.0,
      "total_employees": 265,
      "filing_date": "2022-03-31"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 12702826826.0,
      "total_employees": 347,
      "filing_date": "2023-05-16"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 11486662447.0,
      "total_employees": 360,
      "filing_date": "2024-03-31"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 11087293675.0,
      "total_employees": 289,
      "filing_date": "2025-03-24"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 15770404509.0,
      "total_employees": 372,
      "filing_date": "2026-07-24"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-08-01",
      "period_label": "August 2026",
      "notes": [
        "Updated its list of owners and control persons (Schedule A)."
      ]
    },
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Employees performing advisory functions went from 171 to 170.",
        "Regulatory assets under management went from $11,087,293,675 to $15,770,404,509 (+42%).",
        "Changed its office addresses in Atlanta, GA.",
        "Changed its office addresses in Chicago, IL.",
        "Changed its office addresses in Milan.",
        "Changed its office addresses in Singapore.",
        "Added an office in West Kowloon.",
        "No longer lists an office in Kowloon.",
        "Updated its list of owners and control persons (Schedule A)."
      ]
    }
  ],
  "fees_from_brochure": {
    "source": "Form ADV Part 2A brochure dated May 8, 2026",
    "tiers": [],
    "flat_rate": null,
    "stated_range": null,
    "stated_maximum": null,
    "account_minimum": "$10,000,000",
    "account_minimum_may_be_waived": false,
    "minimum_annual_fee": null,
    "figures": [
      {
        "label": "Account minimum",
        "statements": [
          "Account minimum: $10,000,000"
        ],
        "quotes": [
          "Generally, Fund investor s must invest a minimum of $10 million, unless otherwise approved."
        ]
      }
    ],
    "quotes": [
      "Generally, Fund investor s must invest a minimum of $10 million, unless otherwise approved."
    ],
    "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/msref-real-estate-advisor-inc-new-york-ny-142047.md",
  "clients": [
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 26,
      "fewer_than_5": false,
      "raum": 15770404509.0
    }
  ],
  "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/142047",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}