# Heitman Real Estate Securities LLC

Heitman Real Estate Securities LLC is an Asset Manager based in Chicago, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Chicago, United States
- **Region:** North America
- **Address:** Chicago, IL, United States
- **Founded:** 1992
- **Assets under management:** Undisclosed
- **Website:** heitman.com

## Regulatory record

- **CRD number:** 107134
- **SEC file number:** 801-48252
- **Registration status:** Registered
- **Reports private funds:** No
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/107134

## About

HEITMAN REAL ESTATE SECURITIES LLC is an SEC-registered investment adviser in Chicago, IL, since 1995. The firm manages approximately $1.8 billion in assets. It has 141 employees and 43 investment advisers.

## Sectors

- Real Estate
- Private Credit
- Infrastructure

## Offices

- London
- Hong Kong
- Tokyo
- Singapore

## People

- Mary Ludgin — CEO
- Maury Tognarelli — Co-Founder and Chairman

## Questions

### Who runs investment decisions at Heitman Real Estate Securities?

Mary Ludgin serves as CEO, overseeing investment strategy and operations. Maury Tognarelli, co-founder, remains Chairman. The firm also has a dedicated investment committee for each product type, including private equity, public securities, and credit (per the firm's official communications).

### How does Heitman source proprietary deal flow?

Heitman sources proprietary deal flow through its global network of local real estate professionals in offices across Chicago, London, Hong Kong, Tokyo, and Singapore. The firm also leverages relationships from its private credit platform, which generates deal access for equity investments. Additionally, the firm's research group provides market intelligence (per the firm's website).

### Does Heitman participate in fund commitments or only direct deals?

Heitman operates both through commingled funds and separate accounts, offering fund commitments as well as direct property acquisitions and co-investments. The firm runs open-end and closed-end vehicles, along with customized portfolios for large institutional clients (per the firm's ADV filings).

### What investment stages does Heitman typically target?

The firm targets core, value-add, and opportunistic real estate investments across the risk spectrum. In private equity, it acquires stabilized and transitional properties. In its securities group, it invests in publicly traded REITs. The private credit group provides mezzanine debt and preferred equity for property owners (per the firm's regulatory disclosures).

### What is Heitman's geographic footprint beyond its Chicago headquarters?

The firm maintains additional offices in London (covering Europe), Hong Kong and Tokyo (covering Asia), and Singapore (covering Southeast Asia). This network supports its cross-border investment strategy across North America, Europe, and Asia (per the firm's official communications).

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Last updated: 2026-06-03T20:00:00.000Z

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