The commercial property management industry in the US focuses on professionally overseeing commercial real estate owned by various entities. This sector includes property management companies, developers, and investment firms, offering services such as leasing, maintenance, and tenant relations. As technology integrates more deeply, innovative solutions like PropTech are reshaping operational efficiencies and tenant experiences. Moreover, sustainability efforts are becoming paramount, with businesses seeking green certifications to meet both regulatory standards and client demands. This dynamic shift not only increases transparency but enhances overall asset value, making property management a crucial component for real estate investors looking to thrive in a competitive environment.


The list includes 17 prominent investors in commercial property management, spanning different types such as venture capital, private equity, and corporate entities. Headquarters range from New York City to sunny San Francisco, representing high concentration in key financial hubs. Most firms are medium-sized, with a staff typically lying between fifty and five thousand employees, established from as far back as 1952 to as recently as 2023. In 2024, these investors engaged in numerous transactions, collectively totaling an impressive count of 1,227 deal activities, reflecting their robust commitment to advancing innovative investment within this sector.


Top 17 Commercial Property Management Investors in the US


1. Y Combinator

  • Website: ycombinator.com
  • Type: Venture Capital
  • Headquarters: San Francisco, California, United States (USA)
  • Founded year: 2005
  • Headcount: 51-200
  • Number of deals in 2024: 802
  • LinkedIn: y-combinator

Y Combinator is a prominent startup accelerator and venture capital firm based in San Francisco, California, founded in 2005. It specializes in providing funding and mentorship to early-stage technology companies, having successfully launched over 4,000 startups. Among its diverse portfolio, Y Combinator has made notable investments in the commercial property management sector, including 42Floors, a platform that aids in commercial real estate searches, and PropReturns, a real estate investment platform that raised funding to expand its operations and asset classes. These transactions highlight Y Combinator's engagement in the real estate industry, showcasing its interest in innovative solutions within commercial property management.


2. Blackstone

  • Website: blackstone.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1985
  • Headcount: 1001-5000
  • Number of deals in 2024: 57
  • LinkedIn: blackstonegroup

Blackstone Inc. is an investment management firm based in New York, specializing in alternative investments, including private equity, real estate, and credit solutions. Founded in 1985, Blackstone has built a reputation for delivering lasting value through its extensive portfolio and strategic investment approaches. The firm has been actively involved in the commercial property management sector, with significant transactions such as the acquisition of PS Business Parks for approximately $7.6 billion, which includes around 27 million square feet of industrial and office properties. Additionally, Blackstone's acquisition of the Investa Office Fund for A$3.08 billion highlights its commitment to managing high-quality office assets. Other notable transactions include the acquisition of Sponda for over $2 billion and a significant stake in the Dexus Australia Logistics Trust, showcasing Blackstone's diverse investments in commercial real estate across various markets.


3. 500 Global

  • Website: 500.co
  • Type: Venture Capital
  • Headquarters: San Francisco, California, United States (USA)
  • Founded year: 2010
  • Headcount: 201-500
  • Number of deals in 2024: 98
  • LinkedIn: 500-startups

500 Global is a venture capital firm and startup accelerator founded in 2010, based in San Francisco, California. The firm specializes in investing in early-stage technology companies, providing funding, mentorship, and resources to help founders scale their businesses. Among their notable transactions, 500 Global invested in RealtyShares, a platform that raised funds for real estate crowdfunding, and VTS, which raised $1 million to enhance leasing and asset management in commercial real estate. Additionally, they invested in 42Floors, a commercial real estate search platform, which raised $5 million in Series A funding. These investments highlight 500 Global's engagement with innovative solutions in the commercial property management space, demonstrating their relevance in this sector.


4. Second Century Ventures

  • Website: scv.vc
  • Type: Venture Capital
  • Headquarters: Chicago, Illinois, United States (USA)
  • Founded year: 2009
  • Headcount: 11-50
  • Number of deals in 2024: 8
  • LinkedIn: second-century-ventures

Second Century Ventures is a venture capital firm based in Chicago, Illinois, founded in 2009. The firm focuses on fueling innovation in the real estate technology sector, investing in early to mid-stage technology firms. They offer a growth accelerator program called REACH, which supports startups in scaling their operations. Among their notable transactions, they invested in Cove, a technology solution for commercial real estate, which completed a funding round with Second Century Ventures as an investor. This involvement highlights their commitment to supporting technology that enhances commercial property management. Additionally, they have participated in funding rounds for other companies, such as LulaFit and Trove, although these are less directly related to commercial property management. Overall, Second Century Ventures is positioned as a key player in the intersection of technology and real estate, making them a relevant investor in the commercial property management sector.


5. MRI Software

  • Website: mrisoftware.com
  • Type: Corporate
  • Headquarters: Solon, Ohio, United States (USA)
  • Founded year: 1971
  • Headcount: 1001-5000
  • Number of deals in 2024: 4
  • LinkedIn: mri-software-llc

MRI Software is a corporate investor based in Solon, Ohio, founded in 1971. The company specializes in real estate and investment management solutions, offering a comprehensive suite of products designed to assist property owners, investors, and operators in managing their assets efficiently. MRI Software serves various sectors, including residential and commercial real estate, and operates globally with a focus on providing innovative technology solutions. Notable transactions include the acquisition of MacMunnis, a provider of lease administration solutions aimed at corporate occupiers, and Tenmast Software, which specializes in public housing and affordable housing management software. These acquisitions enhance MRI's capabilities in commercial property management, making them a significant player in the industry.


6. FJ Labs

  • Website: fjlabs.com
  • Type: Venture Capital
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 2015
  • Headcount: 11-50
  • Number of deals in 2024: 169
  • LinkedIn: fj-labs

FJ Labs is a venture capital firm based in New York, founded in 2015, that specializes in investing in marketplace and network effect businesses. With a portfolio of over 1,000 companies, many achieving unicorn status, FJ Labs provides capital and strategic guidance to entrepreneurs across various industries, including e-commerce and logistics. Notably, FJ Labs has invested in Crexi, a platform that facilitates commercial real estate transactions, raising funds through multiple rounds including a Series B and Series C. Additionally, they have invested in Roofstock, an online platform for single-family rental investing, which has also seen significant funding rounds. These transactions highlight FJ Labs' engagement in the commercial property management space, showcasing their interest in supporting innovative solutions within this industry.


7. Plug and Play Tech Center


Plug and Play Tech Center is an innovation hub and venture capital firm founded in 2006, based in Sunnyvale, California. They specialize in connecting startups with corporations to foster growth and innovation, primarily targeting businesses in the technology sector. In 2024, they have made 253 investments, showcasing their active role in the venture capital landscape. Notably, they have participated in funding rounds for companies like Brickbro, a Barcelona-based startup in the real estate sector that raised 1 million euros to strengthen its market position and expand internationally. This investment highlights Plug and Play's engagement with the commercial property management industry, as Brickbro is involved in managing a property portfolio valued at 14 million euros. Other transactions include investments in companies like Properly and Spleet, which, while not exclusively focused on commercial property management, indicate a broader interest in real estate-related ventures.


8. IFC - International Finance Corporation

  • Website: ifc.org
  • Type: Venture Capital
  • Headquarters: Washington, D.C., District Of Columbia, United States (USA)
  • Founded year: 1956
  • Headcount: 1001-5000
  • Number of deals in 2024: 107
  • LinkedIn: ifclinkedin

The International Finance Corporation (IFC) is a not-for-profit organization established in 1956, headquartered in Washington, D.C. It focuses on private sector development in emerging markets by providing investment, advisory, and asset management services to businesses and financial institutions. IFC aims to foster economic growth and address poverty challenges in over 100 countries. In 2024, IFC has been involved in significant transactions relevant to the commercial property management sector, including a $150 million debt investment in FIBRA Macquarie, a real estate investment trust, and a $412.6 million equity investment in Brookfield India Real Estate Trust. These transactions highlight IFC's commitment to supporting the growth of commercial real estate and its management, making it a key player in this industry.


9. Kkr

  • Website: kkr.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1976
  • Headcount: 1001-5000
  • Number of deals in 2024: 74
  • LinkedIn: kkr

KKR & Co. Inc. is a prominent investment firm based in New York, specializing in private equity, credit, infrastructure, and real estate. Founded in 1976, KKR provides asset management solutions to both institutional investors and individual clients, helping them navigate complex investment landscapes to achieve strong financial returns. In the real estate sector, KKR has made significant moves, including the recent acquisition of a portfolio of 18 multifamily assets from Quarterra Multifamily for $2.1 billion, which consists of over 5,200 units across various growing markets in the U.S. This acquisition highlights KKR's active role in the multifamily sector, which is closely related to commercial property management. Additionally, KKR has engaged in various funding rounds with real estate developers, such as raising $215 million for Mantri Developers and participating in talks with Lodha Group for project financing, further emphasizing their involvement in the commercial property management industry.


10. Goldman Sachs

  • Website: goldmansachs.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1998
  • Headcount: 10001+
  • Number of deals in 2024: 59
  • LinkedIn: goldman-sachs

Goldman Sachs is a leading investment bank and financial services firm based in New York, founded in 1998. It provides a comprehensive range of services including investment banking, asset management, and wealth management, catering to a diverse clientele that includes corporations, financial institutions, and individuals. In the realm of commercial property management, Goldman Sachs has been actively involved in several notable transactions. For instance, they participated in a substantial debt financing deal for Tishman Speyer, raising $2.85 billion, which underscores their commitment to supporting major real estate projects. Additionally, Goldman Sachs has invested in Cadre, a real estate investment platform, during its Series B and Series C funding rounds, which focus on expanding technology and real estate teams. Their investment in NestAway, a property management startup, further highlights their engagement in the commercial property sector, as it aims to innovate and streamline rental processes. Overall, Goldman Sachs' diverse investment portfolio and strategic involvement in real estate ventures position them as a significant player in the commercial property management landscape.


11. Deep Tech Fund (an Alumni Ventures Fund)

  • Website: av.vc
  • Type: Venture Capital
  • Headquarters: Manchester, New Hampshire, United States (USA)
  • Founded year: 2023
  • Headcount: 51-200
  • Number of deals in 2024: 258
  • LinkedIn: deep-tech-fund-av-focused-fund

The Deep Tech Fund (an Alumni Ventures Fund) is a venture capital firm based in Manchester, New Hampshire, founded in 2023. It provides accredited investors and institutions with access to professionally-managed, diversified venture portfolios, leveraging a network of over 10,000 investors to connect them with high-quality investment opportunities in the startup ecosystem. Notably, the fund has invested in several companies relevant to the commercial property management sector, including Doorvest, a proptech company that raised $39 million in a Series A funding round. This investment highlights the fund's interest in technology solutions that enhance property management. Additionally, the fund has participated in funding rounds for other companies like AvantStay and Yuhu, which, while not exclusively focused on commercial property management, indicate a broader interest in the real estate and property technology space.


12. Apollo Global Management, Inc.

  • Website: apollo.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1990
  • Headcount: 1001-5000
  • Number of deals in 2024: 46
  • LinkedIn: apollo-global-management-inc

Apollo Global Management, Inc. is an asset management firm based in New York, specializing in alternative assets and retirement solutions. Founded in 1990, the firm manages a diverse portfolio across credit, private equity, and real assets, catering to institutional investors, corporations, and individual clients. Notably, Apollo has been involved in significant transactions within the commercial property sector, including acquiring a stake in CPI Property Group, a Luxembourg-based real estate company, and partnering with COIMA SGR to acquire a portfolio of eleven mixed-use properties in Milan and Rome for over €300 million. These properties are part of urban regeneration projects, showcasing Apollo's commitment to enhancing commercial real estate value. Additionally, their acquisition of Altamira Asset Management further emphasizes their strategic focus on real estate management and investment.


13. Fifth Wall

  • Website: fifthwall.com
  • Type: Corporate
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 2016
  • Headcount: 51-200
  • Number of deals in 2024: 15
  • LinkedIn: fifth-wall-ventures

Fifth Wall is a venture capital firm founded in 2016, based in New York, New York, specializing in technology investments for the real estate industry. The firm focuses on funding innovative technology companies that tackle significant challenges such as climate change and infrastructure issues. Fifth Wall has been actively involved in several notable transactions within the commercial property management context. For instance, they participated in the Series C and D funding rounds for VTS, a leading asset management and leasing platform in commercial real estate tech, which raised significant capital to enhance its operations. Additionally, Fifth Wall led the Series A funding round for Lessen, a rental property management platform, which raised a substantial amount to support its growth. They also invested in Enertiv, a PropTech company focused on improving operational efficiency in real estate. These investments highlight Fifth Wall's strategic focus on technology solutions that are integral to the commercial property management industry.


14. Morgan Stanley

  • Website: morganstanley.com
  • Type: Venture Capital
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1986
  • Headcount: 10001+
  • Number of deals in 2024: 79
  • LinkedIn: morgan-stanley

Morgan Stanley is an investment bank and financial services firm founded in 1986, headquartered in New York, New York. The firm offers a wide range of services including wealth management, investment banking, and capital markets. With a global presence and a workforce of over 10,000 employees, Morgan Stanley serves individuals, families, corporations, and governments, helping them manage and grow their financial assets. In recent years, Morgan Stanley has been actively involved in the commercial property management sector, highlighted by their acquisition of RowCal in May 2023, which specializes in outsourced homeowner association property management services. Additionally, they have participated in significant transactions such as the Post-IPO debt raise for Office Properties Income Trust and equity raises for Brookfield India Real Estate Trust and Indiabulls Real Estate, showcasing their commitment to investing in real estate and property management opportunities.


15. Gallagher Healthcare Ins Svc


Gallagher Healthcare Ins Svc, founded in 1952 and based in Huntersville, North Carolina, is a corporate investor specializing in insurance solutions, particularly in the medical malpractice sector for healthcare providers. They have made significant strides in expanding their portfolio through various acquisitions. Notably, they acquired CRES Insurance Services, a firm focused on insurance and risk management for real estate, which enhances their capabilities in the commercial property management arena. Additionally, their acquisition of Risk Transfer Insurance Agency LLC, a commercial property/casualty agency, further demonstrates their engagement in the commercial property sector. These transactions indicate Gallagher's strategic interest in diversifying their offerings beyond healthcare, positioning them as a relevant player in the commercial property management industry.


16. Tpg

  • Website: tpg.com
  • Type: Private Equity
  • Headquarters: San Francisco, California, United States (USA)
  • Founded year: 1992
  • Headcount: 1001-5000
  • Number of deals in 2024: 27
  • LinkedIn: tpg-capital

TPG Inc. is a leading global alternative asset manager specializing in private equity and investment management, founded in 1992 and based in San Francisco, California. The firm manages $229 billion in assets across various sectors, including technology, healthcare, and consumer markets. TPG serves institutional investors by providing diversified investment opportunities and strategic insights to enhance their portfolios. In the realm of commercial property management, TPG has made significant investments, including the acquisition of Servihabitat Servicios Inmobiliarios in 2013, which focuses on real estate services. In 2015, TPG Real Estate acquired TriGranit, a prominent developer and manager of retail and office assets in Central Europe, further solidifying their presence in the commercial property sector. More recently, TPG's acquisition of Aareon, a European SaaS provider for the real estate industry, highlights their strategic focus on enhancing property management capabilities. These transactions underscore TPG's active role in the commercial property management industry.


17. Värde Partners

  • Website: varde.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1993
  • Headcount: 201-500
  • Number of deals in 2024: 6
  • LinkedIn: varde-partners

Värde Partners is an investment management firm based in New York, specializing in alternative investments, particularly in credit-related assets and distressed securities. Founded in 1993, the firm serves a global investor base, including institutional investors, by providing expertise in navigating complex investment opportunities. Värde operates across various sectors, including Corporate & Traded Credit, Real Estate, and Financial Services. Notably, Värde has been involved in significant real estate transactions, such as the acquisition of the Grade A office building Lodha Excelus, which highlights their active participation in the commercial property market. Additionally, their acquisition of debt from Reyal Urbis, a distressed real estate company, positions them as a key player in managing and restructuring commercial assets. These transactions underscore Värde's commitment to the commercial property sector and their capability in managing investments within this industry.



Commercial Property Management Insights: Key Investors in the US


InvestorHeadquarterSizeFoundedDeals 2024
Y CombinatorSan Francisco, California, United States (USA)51-2002005802
BlackstoneNew York, New York, United States (USA)1001-5000198557
500 GlobalSan Francisco, California, United States (USA)201-500201098
Second Century VenturesChicago, Illinois, United States (USA)11-5020098
MRI SoftwareSolon, Ohio, United States (USA)1001-500019714
FJ LabsNew York, New York, United States (USA)11-502015169
Plug and Play Tech CenterSunnyvale, California, United States (USA)501-10002006253
IFC - International Finance CorporationWashington, D.C., District Of Columbia, United States (USA)1001-50001956107
KkrNew York, New York, United States (USA)1001-5000197674
Goldman SachsNew York, New York, United States (USA)10001+199859
Deep Tech Fund (an Alumni Ventures Fund)Manchester, New Hampshire, United States (USA)51-2002023258
Apollo Global Management, Inc.New York, New York, United States (USA)1001-5000199046
Fifth WallNew York, New York, United States (USA)51-200201615
Morgan StanleyNew York, New York, United States (USA)10001+198679
Gallagher Healthcare Ins SvcHuntersville, North Carolina, United States (USA)1-1019529
TpgSan Francisco, California, United States (USA)1001-5000199227
Värde PartnersNew York, New York, United States (USA)201-50019936


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