C-III Investment Management

Andrew T. Kokas serves as Chief Executive Officer and is responsible for the firm's investment strategy and operations. Prior to leading C-III Investment Management, he held senior roles at related entities including C-III Capital Partners. The firm's investment committee includes professionals with decades of commercial real estate experience (per the firm's public filings and industry reports).

C-III Investment Management operates as an SEC-registered investment adviser (RIA), not as a family office. It manages assets for a broad institutional client base including pension funds, insurance companies, and family offices. The firm's registered adviser structure allows it to accept third-party capital beyond a single family.

The firm concentrates on commercial real estate debt and equity, including senior mortgages, mezzanine debt, preferred equity, and direct equity investments. It targets transitional and value-add assets across office, multifamily, retail, and industrial property types, primarily in the United States. Strategies are delivered through separately managed accounts and commingled funds (per public SEC filings and investor materials).

C-III Investment Management acts as an asset manager, raising commingled funds and separately managed accounts for institutional investors. It may invest alongside clients in co-investment structures, but its primary business is managing discretionary capital through pooled vehicles rather than direct proprietary investments (per the firm's SEC ADV filing).

C-III Investment Management was spun out of C-III Capital Partners in 2010 but remains closely affiliated. C-III Capital Partners is a well-known commercial real estate special servicer and asset manager with deep expertise in distressed and transitional properties. The investment management arm leverages this network for deal sourcing and asset management capabilities.

As of 2024, the firm does not publicly disclose a specific AUM figure. Industry estimates suggest it may manage between $1 billion and $5 billion in commercial real estate assets, but this is not confirmed by the firm. Investors and allocators should request current data directly from the firm.

The firm does not prominently publicize ESG guidelines. As a real estate debt and equity manager investing in transitional assets, it may consider environmental risk and property upgrades as part of its underwriting process, but no formal ESG framework is disclosed in public filings or on its website.