Kearny Real Estate

What Kearny Real Estate does

Kearny Real Estate Company is a vertically integrated, privately-held real estate investment and development firm founded in 1993 and headquartered in Los Angeles, California, with additional offices in Santa Fe Springs and San Diego. The firm specializes in acquisition, development, asset management, and property management of office, industrial, and land assets exclusively in Southern California, with an acquisition minimum of $20 million per transaction and a risk profile spanning Core Plus to Opportunistic. Since inception, Kearny has executed approximately $5.4 billion in cumulative transactions across more than 30 named projects and portfolios, including build-to-suit corporate facilities (Nokia, Scotts, Infonet), adaptive re-use developments (The Press, Century Business Center, Emerald Plaza), industrial/logistics centers (Harbor Logistics Center, Otay Border Crossing, Corona Lakeside), and large-scale transformational projects on former refineries, quarries, and military bases.

The firm operates primarily through joint venture partnerships with institutional capital providers, most notably a multi-decade relationship with Morgan Stanley Real Estate spanning from the 1993 Bank of America NPL portfolio acquisition through successive fund vehicles including the $15 billion Prime Property Fund and MSREF VII Global. Additional recurring capital partners include PCCP, Sequoia Heritage, AEW, KBS REITs, and Tribune Real Estate Holdings. Kearny also provides third-party asset and property management services across an approximately 5 million square-foot office, R&D, and industrial portfolio. The platform is differentiated by demonstrated expertise in navigating complex multi-agency entitlement processes (Army Corps of Engineers, Caltrans, Regional Water Quality Control Board) and executing on challenging sites requiring environmental remediation, with notable recognition including the 2008 Air Force Design Excellence Honor Award for the LA Air Force Base project.

The company is led by Founder and Chairman Jeff Dritley (former Morgan Stanley Managing Director, Harvard Business School MBA) alongside Managing Partner Hoonie Kang (Harvard College, joined 2001) and a team of approximately 14 senior professionals including VPs, directors, and property managers. Revenue is generated through multiple streams: asset and property management fees, leasing commissions, construction management fees, development fees, and investment returns from JV equity stakes and asset dispositions. Kearny does not publicly disclose financial information and remains privately held with no external funding rounds or IPO activity.

Name

Kearny Real Estate

Legal name

Kearny Real Estate Company

Website

https://kearny.com

Company type

Private

Founded year

1993

Operating status

Operating

Headcount range

11–50 employees

Short description

Kearny Real Estate Company is a Los Angeles-based, privately-held vertically integrated real estate investment and development firm founded in 1993, specializing in acquisition, development, asset management, and property management of office, industrial, and land assets in Southern California, primarily through joint ventures with institutional investors like Morgan Stanley Real Estate, PCCP, and Sequoia Heritage.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Investment & Management

NAICS

Real Estate and Rental and Leasing (53), Lessors of Real Estate (5311), Real Estate Property Managers (53131)

SIC

Real Estate Dealers (For Their Own Account) (6532), Real Estate Agents & Managers (For Others) (6531), Real Estate (6500)

akta.pro primary industry

Real Estate Investment Advisory (Acquisitions/Dispositions, Capital Allocation) (BPAJANAA)

akta.pro secondary industries

Property Management Advisory & Leasing Administration (FSAEAJAN), Real Estate Investment Sales (Income-Producing Properties) (FSAEAJAC)

Keywords

• Commercial real estate investment
• Real estate asset management
• Property management services
• Real estate development
• Joint venture investing

Headquarters

HQ city

Los Angeles

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Others, Marketing or Sales, Infrastructure

Revenue model

1. Real Estate Investment Returns: Kearny generates returns through acquisition, development, asset management and property management of office, industrial and land assets. Revenue comes from joint venture partnerships with institutional and private investors, third party assignments, and direct property ownership.
2. Property Sales and Dispositions: Company sells completed developments and stabilized assets. Examples include Harbor Logistics Center sold on forward contract, Torrance Industrial Exchange sold to Oaktree Capital Management, Corona Lakeside Logistics Center sold in 2Q 2023 as largest ground lease transfer in Inland Empire history.
3. Asset and Property Management Fees: Third party assignments comprise majority of projects under management with remainder being joint venture Kearny partnerships. Fees earned for asset management, property management, leasing, and construction management services.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

Kearny Real Estate Company is a vertically integrated operating company that acquires, develops, asset manages, and property manages office, industrial, and land assets in Southern California on behalf of itself, institutional joint venture partners, and private investors. It sources Core Plus to Opportunistic investments of $20 million+ in value, executes entitlement, build-to-suit, adaptive re-use, and ground lease transactions, and provides ongoing asset, property, leasing, and construction management services across its portfolio.

Product overview

Kearny Real Estate Company is a vertically integrated real estate operating company founded in 1993, specializing in the acquisition, development, asset management, and property management of office, industrial, and land assets in Southern California. The company operates as a platform of interconnected services including Development, Acquisitions, Asset Management, Property Management, and Joint Ventures, managing approximately $5.4 billion in transactions since inception. The company has completed numerous named development and redevelopment projects spanning industrial logistics centers (Harbor Logistics Center, Otay Border Crossing, Irwindale Gateway), adaptive re-use of office properties (The Press, Century Business Center, Emerald Plaza), build-to-suit projects (Infonet, Nokia, Scotts), and manages multiple loan portfolios acquired in partnership with Morgan Stanley and other institutional investors.

Differentiator

Problem solved

Functional benefit

Products and services

• Acquisitions Sourcing and underwriting of commercial real estate acquisitions (office, industrial, land) in Southern California valued at $20 million or more, on behalf of joint venture partners and own accounts; cooperates with brokers and property owners to identify opportunities.
• Development Real estate development services for office, industrial, and land assets including entitlement processing, construction management, and value engineering, typically executed for joint venture partners, corporate tenants, or governmental users.
• Asset Management Asset management services for office, industrial, and land portfolios including financial reporting, lease administration, capital relationship management, and value optimization, delivered both to joint venture partners and to third-party owners.
• Property Management Property management services for office, industrial, flex, and residential properties including maintenance, tenant relations, vendor contract management, and insurance compliance, delivered across roughly five million square feet of inventory.
• Joint Ventures Investment management partnerships with institutional and private investors (e.g., Morgan Stanley Real Estate, PCCP, Sequoia Heritage, AEW, Oaktree Capital, Wells Fargo, KBS REITs II & III) for co-investment in real estate acquisitions and developments, typically structured as equity joint ventures with active asset and property management follow-on services.

Named customers11 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered minor, flagship and core.

• Consumer Marketing AwardsminorOthers · 1 January 2025Kearny Real Estate contributed $5,000 seed contribution to university entrepreneurship scholarships through the Consumer Marketing Awards program. Program funds scholarships through entry fees.
• Sequoia HeritageflagshipStrategic or Co-development Partner · 1 January 2018Joint venture with Sequoia Heritage on Elevate@Harbor project (two buildings totaling 197,370 sf in South Coast Metro market purchased 2018). Also partnered on Harbor Logistics Center re-capitalization in 2023.
• Tribune Real Estate HoldingscoreStrategic or Co-development Partner · 1 January 2016Joint venture with Tribune Real Estate Holdings for $100 million adaptive re-use of former LA Times printing plant in Costa Mesa (The Press project). In 2024, sold 24-acre property for approximately $65 million to joint venture including SteelWave, LLC.
• AEWcoreStrategic or Co-development Partner · 1 June 2014Partnership with AEW on Newport Corporate Plaza acquisition in June 2014, purchasing 17 of 24 properties in the office park in Newport Beach.
• PCCP (Pacific Corporate Partners)flagshipStrategic or Co-development Partner · 1 January 2007Joint venture partner on multiple major projects including Otay Crossings Commerce Park (land entitlement and development since 2007), Emerald Plaza (downtown San Diego Class A office tower acquired December 2016), and Torrance Industrial Exchange (purchased August 2019 with Oaktree Capital).

Scale indicators17 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• CBRE Group: Global commercial real estate services and investment firm providing brokerage, investment management, property management, and development services. Comparable for the broad service stack, though much larger and publicly listed.
• JLL: Global real estate services and investment management firm covering capital markets, property management, and project development. Comparable for institutional client focus and vertically integrated CRE service offering.
• Brookfield Real Estate: Global real estate investment and operating platform with deep institutional capital relationships and cross-cycle investment experience. Comparable as a principal investor/operator partnering with institutional capital, though vastly larger and globally diversified.

Regional players

• Hudson Pacific Properties: West Coast office and studio operator with significant Los Angeles presence. Comparable for its SoCal office focus and vertical integration across development and asset management.
• Kilroy Realty: West Coast office REIT with deep Southern California concentration. Comparable as a SoCal-headquartered operator focused on office and life-science assets, though Kilroy is a public REIT rather than a private operating company.
• Rexford Industrial Realty: Pure-play Southern California industrial REIT focused on infill warehouse and logistics. Comparable for SoCal industrial focus, though structured as a public REIT versus Kearny's JV-driven operating model.

Direct peers

• Kennedy Wilson: Global real estate investment and operating company with a multi-cycle track record in acquisitions, development, asset management, and property management. Comparable as a vertically integrated, principal-investing operator that partners with institutional capital across asset types.
• AEW Capital Management: Institutional real estate investment manager with separate-account and fund vehicles across U.S. markets including Southern California. Comparable as a JV partner to Kearny and as a principal investor in SoCal office and industrial, providing a model for what scaled institutional capital management in this market looks like.
• Hackman Capital Partners: Private industrial real estate operator and investor specializing in Southern California warehouse, logistics, and adaptive re-use. Comparable as a private operating company executing complex industrial acquisitions, redevelopment, and JV deals with institutional capital.
• Marcus & Millichap: Real estate investment sales and advisory firm specializing in commercial property brokerage across the Western U.S. Comparable for intermediating commercial real estate transactions and serving institutional and private investors in California markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/kearny-real-estate

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Kearny Real Estate