Heitman LLC Company Profile

Background

Founded in 1966 and headquartered in Chicago, Illinois, Heitman LLC is a global real estate investment management firm with nearly $50 billion in assets under management as of June 30, 2024. The firm's mission is to lead the evolution of real estate through investments that fulfill the needs of people and communities in a world of constant change. Heitman operates across North America, Europe, and Asia-Pacific, offering a range of real estate investment strategies, including direct investments in property equity and debt, as well as publicly traded real estate securities.

Key Strategic Focus

Heitman specializes in three primary areas:

Private Real Estate Equity: Managing investments in direct property assets across core, core-plus, and value-add strategies.

Real Estate Debt: Providing structured senior and mezzanine debt investment opportunities.

Public Real Estate Securities: Investing in publicly traded real estate securities, including Real Estate Investment Trusts (REITs).

The firm emphasizes a collaborative investment process, integrating research and investment expertise to navigate changing market conditions effectively.

Financials and Funding

As of June 30, 2024, Heitman manages nearly $50 billion in assets. The firm is wholly owned and controlled by its senior management, ensuring alignment of interests between the company and its clients.

Pipeline Development

Heitman has been active in expanding its investment portfolio:

Self-Storage Sector: In December 2021, Heitman formed a joint venture with Life Storage, Inc. to acquire thirteen newly constructed self-storage properties across seven metropolitan statistical areas (MSAs) in the United States.

European Market: In February 2025, Heitman acquired a majority stake in Servistore, the third-largest self-storage operator in Sweden, expanding its footprint in the European self-storage market.

Technological Platform and Innovation

Heitman integrates in-house research as a cornerstone of its investment process, enabling real-time integration of research and investment strategies. This approach fosters a multi-disciplinary team environment, enhancing the firm's ability to adapt to market changes and identify investment opportunities.

Leadership Team

Heitman's leadership comprises experienced professionals with extensive backgrounds in real estate investment management:

Maury R. Tognarelli: Chief Executive Officer

Lewis Ingall: Senior Managing Director, Client Service & Marketing

Darrah Bixler: Chief People Officer

Anthony Stamato: Chief Legal Officer

Larry Christensen: Chief Financial Officer

Irene Yartey-Onyango: Chief Strategy & Operations Officer

Rachna Velamati: Chief Diversity Officer & Head of Talent Management

Mary Ludgin: Senior Advisor (Investment Research) & Global Investment Committee Member

Jeff Bingham: Managing Director, Co-Head of Global Investment Research

Emi Adachi: Managing Director, Co-Head of Global Investment Research

Peeyush Shukla: Chief Data Architecture & AI Officer, Co-Head of Data & Technology

Julie Feller: Chief Technology Operations Officer, Co-Head of Data & Technology

Thomas McCarthy: Senior Managing Director, Private Equity, North America

Brian Pieracci: Managing Director, Head of North American Private Equity

Yun Choi: Managing Director, Co-Head and Portfolio Manager, Private Equity, Asia-Pacific

Brad Fu: Managing Director, Co-Head and Portfolio Manager, Private Equity, Asia-Pacific

Tony Smedley: Managing Director, Head of European Private Equity

David Maki: Senior Managing Director, Co-Head, Real Estate Debt

Greg Leadholm: Senior Managing Director, Co-Head, Real Estate Debt

Charles Harbin: Managing Director, Co-Head and Portfolio Manager, Public Real Estate Securities

Jeff Yurk: Managing Director, Co-Head and Portfolio Manager, Public Real Estate Securities

Gordon Black: Senior Managing Director, Private Equity

Pete Fawcett: Executive Vice President, Portfolio Management

Blaise Keane: Executive Vice President, Portfolio Management

Skip Schwartz: Senior Advisor, Private Equity, Asia-Pacific

Laura Craft: Global Head of Portfolio Sustainability Strategies

Leadership Changes

In February 2025, Heitman appointed Scott Barsky as Senior Vice President in the Client Service & Marketing group, reflecting the firm's commitment to enhancing client relations and marketing strategies.

Competitor Profile

Market Insights and Dynamics

The global real estate investment management industry is characterized by significant competition, with firms managing substantial assets across various real estate sectors. The market is influenced by economic cycles, interest rates, and regional real estate trends.

Competitor Analysis

Heitman's primary competitors include:

LaSalle Investment Management: Headquartered in Chicago, LaSalle was founded in 1999 and operates in the Real Estate Investment Trusts (REITs) industry.

Harrison Street: Established in 2005 and based in Chicago, Harrison Street focuses on real estate investment management within the Banking, Financial Services, and Insurance sectors.

AEW Capital Management: Founded in 1981 in Boston, AEW competes in the Banking, Financial Services, and Insurance sector, similar to Heitman.

These competitors offer similar services, including private equity real estate investments, real estate debt, and public real estate securities, contributing to a dynamic and competitive market landscape.

Strategic Collaborations and Partnerships

Heitman has engaged in several strategic partnerships to enhance its market position:

Life Storage, Inc.: In December 2021, Heitman formed a joint venture with Life Storage to acquire a diversified portfolio of self-storage properties across the United States.

Servistore: In February 2025, Heitman acquired a majority stake in Servistore, expanding its presence in the European self-storage market.

Operational Insights

Heitman's integrated approach across private equity, real estate debt, and public real estate securities allows the firm to adapt to market changes and identify diverse investment opportunities. The firm's in-house research capabilities and experienced leadership team contribute to its competitive advantage in the real estate investment management industry.

Strategic Opportunities and Future Directions

Heitman continues to explore opportunities for growth through strategic acquisitions and partnerships, particularly in the self-storage and residential sectors. The firm's focus on integrating research and investment strategies positions it to navigate evolving market conditions and deliver value to its clients.