Ultra-Rich Scout Direct Real Estate Investments
Jared Ross was quoted in an article, "Ultra-Rich Scout Direct Real Estate Investments," published by Banker & Tradesman. The article discusses the trend of family offices as a growing source of capital for real estate investment in Greater Boston and other metro areas with strong real estate markets. Family offices can take various structures, either hiring in-house attorneys and accountants, using outside financial and other advisers, or a combination of the two. In the article, Ross discussed how family offices can offer savings from hedge funds' and private equities' management and performance fee structure depending on the amount of assets under management. The benefits escalate with the size of the family fortune, Ross told Banker & Tradesman. "It may cost a couple of million [dollars] annually to set up, depending upon the number of employees, to pay for the overhead," Ross said. "If you have $1 billion in liquid assets and you're paying a percentage, it's going to be a lot more than the overhead of a family office."
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Thank you to everyone who joined us at Day Pitney's 2024 Palm Beach Family Office Forum! Our Forum brought together business leaders, industry experts, and family office principals and executives for an insightful day of discussions on investment trends, wealth management, legacy planning, and innovative strategies to navigate the complexities of family office dynamics.