Belrad Group

What Belrad Group does

Belrad Group (legal entity Belrad Group Advisors Inc) is a San Francisco-based, privately held commercial real estate advisory and investment firm founded in 2001 by Jim Kehoe. The firm serves institutional investors, family offices, and investment partnerships across the United States with four service lines: capital placement (structuring, placing, and servicing CRE debt and equity, with deal sizes ranging from $7 million to over $145 million), asset management (workout and repositioning of stalled or distressed developments, including a 1.6 million square foot Chicago recapitalization), portfolio assessment (multi-asset, multi-country CRE portfolio analysis and restructuring, exemplified by a $1.3 billion Lehman Brothers estate engagement covering 80 assets across eight Asian countries), and direct San Francisco Bay Area property investment via GP co-investment and investment partnerships.

The firm operates without disclosed proprietary technology — it is a relationship-driven advisory practice built on the expertise of its two principals, Jim Kehoe and Doug Morss, who together bring over 50 years of industry experience spanning GateCapital (where Kehoe helped grow assets to $4.5 billion), Capital Services Group (where Morss managed over $8 billion in client portfolios), Morgan Stanley Asia, Barclays Global Investors, and GMACCM special servicing. Doug Morss is also a licensed California real estate broker.

The business model generates revenue through advisory and management fees on capital placement, asset management, and portfolio assessment engagements, supplemented by returns from direct co-investment in San Francisco Bay Area commercial real estate. The firm is privately held without external institutional backing, employs 1-10 people, and reaches customers nationwide via direct relationship-based business development rather than through marketing channels or distribution intermediaries. Customer engagement is episodic and project-based rather than recurring subscription, with notable past clients including the Lehman Brothers bankruptcy estate, SunCal, Cherokee Fund, and unnamed family offices.

Name

Belrad Group

Legal name

Belrad Group Advisors Inc

Website

https://belrad.com

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

11–50 employees

Short description

Belrad Group is a San Francisco-based commercial real estate advisory and investment firm founded in 2001, providing capital placement, asset management, portfolio assessment, and direct Bay Area investment services to institutional investors, family offices, and investment partnerships.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Advisory

NAICS

Offices of Real Estate Agents and Brokers (53121), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Portfolio Management and Investment Advice (523940)

SIC

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

akta.pro industry

PRIMARYBPAJANAE

Real Estate Capital Markets Advisory (Debt/Equity Placement, Refinancing)

Business & Public Services/Real Estate Services (Brokerage, Property Management)/Real Estate Advisory & Consulting (Investment, Strategy)

SECONDARYBPAJABAL

Capital Markets Advisory (Equity Placement, JV & Recapitalization)

Business & Public Services/Real Estate Services (Brokerage, Property Management)/Commercial Real Estate Brokerage

SECONDARYFSAEAJAK

Real Estate Capital Markets Brokerage (Debt & Equity Placement)

Financial & Insurance/Financial Advisory, Brokerage & Intermediation/Real Estate Advisory & Brokerage

Keywords

• Commercial real estate advisory
• Capital placement services
• CRE asset management
• Portfolio assessment services
• Real estate investment partnerships

Headquarters

HQ city

San Francisco

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Supply Chain

Revenue model

1. Advisory and Management Fees: Revenue generated through advisory service fees for capital placement, asset management, and portfolio assessment engagements. Additional income from co-investment returns and investment partnership interests in San Francisco Bay Area commercial real estate.

Go-to-market motion1 record

Distribution channels1 record

Core offering

Belrad Group is a commercial real estate advisory and investment firm that provides capital placement, asset management, and portfolio assessment services to institutional investors, family offices, and bankruptcy estates. Deal sizes for capital placement range from $7 million to over $145 million, including construction loans, preferred equity offerings, and acquisition financing. The firm additionally makes direct co-investments in San Francisco Bay Area commercial real estate through GP co-investment structures and investment partnerships.

Product overview

Belrad Group is a commercial real estate advisory and investment firm offering four core services: Capital Placement (structuring and placing debt/equity capital for commercial real estate transactions), Asset Management (hands-on management of stalled or underperforming developments), Portfolio Assessment (analysis and advisory for CRE debt/equity portfolios), and San Francisco Bay Area Investments (direct property acquisitions via GP co-investment or investment partnerships). The firm operates as a unified advisory platform serving institutional investors, family offices, and bankruptcy estates nationwide.

Differentiator

Problem solved

Functional benefit

Products and services

• Capital Placement Advisory service focused on structuring, placing, and servicing debt and equity capital for commercial real estate transactions. Deal sizes range from $7 million to over $145 million, including construction loans, preferred equity offerings, and acquisition financing. Targeted at commercial real estate borrowers, developers, and sponsors.
• Asset Management Hands-on asset management services including taking over stalled developments, negotiating payoffs and settlements, recapitalizing projects, installing new development teams, and managing development from land acquisition through completion and delivery. Targeted at institutional equity owners and developers needing workout or repositioning support.
• Portfolio Assessment Analysis and advisory services for portfolios of commercial real estate debt and equity investments, including hold vs. abandon analysis, business plan development, and restructuring alternatives. Includes hands-on asset management for multi-country, multi-asset portfolios. Targeted at bankruptcy estate administrators, institutional investors, and fund managers with complex CRE portfolios.
• San Francisco Bay Area Investments Direct investment in San Francisco Bay Area commercial real estate with long-term value creation potential. Deal structures include GP co-investment and acquisitions on behalf of investment partnerships. Belrad is not a limited partner investor; it acquires properties directly. Targeted at investment partnerships seeking active GP co-investment partners.

Quantifiable outcome

• Returned all initial capital plus realized profits on 192 townhome development in Hawaii over 5 years
• +3 more outcomes

Named customers4 records

Segments1 record

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators6 records

Recent moves5 records

Expansion highlights3 records

Direct peers

• SRS Real Estate Partners: Privately held commercial real estate firm providing investment sales, capital markets, and advisory services with strong retail and net-lease expertise. Comparable to Belrad's sponsor-focused advisory and capital placement model across institutional and private capital relationships.
• Northmarq: Privately held commercial real estate capital markets advisor arranging debt, equity, and investment sales for institutional clients. Comparable to Belrad in capital placement and CRE advisory, though at materially greater scale with multiple offices nationwide.
• B6 Real Estate Advisors: Boutique New York-based CRE capital advisory firm arranging debt and equity for institutional and private clients. Closely comparable to Belrad in firm size, deal focus on mid- to large-cap commercial real estate capital placement, and principal-driven relationship model.
• George Smith Partners: Boutique Los Angeles-based commercial real estate capital advisory firm arranging debt and equity for CRE transactions. Directly comparable to Belrad in deal structuring, capital placement for institutional and private clients, and focus on complex or non-traditional financing structures.
• Ackman-Ziff Real Estate: Privately held commercial real estate capital advisory and brokerage firm serving owners, developers, and investors. Comparable to Belrad in arranging debt and equity capital placements for institutional CRE clients, particularly in mid-market and complex transactions.

Broad incumbents

• Walker & Dunlop: Large publicly traded CRE finance company providing debt origination, servicing, and investment sales. Comparable to Belrad in CRE capital placement and asset management but at vastly greater scale, with broader product set including GSE lending and loan servicing.
• JLL Capital Markets: Global commercial real estate services firm's capital markets division offering investment sales, debt placement, equity placement, and recapitalization advisory. Comparable to Belrad in capital markets advisory and asset management but with global reach, technology infrastructure, and balance sheet capabilities.
• Eastdil Secured: Premier boutique investment bank specializing in commercial real estate capital markets, owned by Wells Fargo. Comparable to Belrad's advisory and capital placement role on large, complex institutional CRE transactions, particularly for sponsors and owners of major assets.
• Newmark Group: Publicly traded commercial real estate advisory and services firm offering investment sales, debt placement, and loan servicing. Comparable to Belrad's CRE capital markets advisory role but operating across a much broader services portfolio at significantly greater scale.
• CBRE Capital Markets: Largest global CRE services firm's capital markets group providing debt, equity, and structured finance for institutional clients. Comparable to Belrad's capital placement and advisory mandate but at enterprise scale with multi-product, multi-geography capabilities.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 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 Belrad Group