Klaff Realty, LP

Klaff Realty, LP serves as sponsor, manager and investment adviser to closed‑end private real estate funds and affiliated pooled vehicles, providing discretionary sourcing, acquisition, redevelopment, asset management and disposition services to institutional and accredited fund investors rather than individual retail clients. The firm is an SEC‑registered adviser and, as of December 31, 2025, managed approximately $275,028,763 of regulatory assets under management across investments in the United States and Latin America.

Klaff Realty’s investment work is focused on commercial real estate and real‑estate‑related assets—with a stated specialization in distressed and under‑utilized retail properties—and it also pursues investments through operating joint ventures where it retains active oversight and decision rights. Fee structures are set in each fund’s governing documents and the brochure emphasizes that management fees are generally calculated on committed or contributed capital or as fixed annual fees for certain vehicles, with carried interest distributions, rather than being tied to a fund’s then‑current net asset value.

Distinctive aspects disclosed in the brochure include a portfolio of sector‑specific and country‑specific vehicles (Uruguay agricultural land funds, chlor‑alkali “Chlorine” funds, a Uruguay supermarket vehicle and a co‑work/second‑home fund), negotiated side‑letter arrangements for select investors and the receipt of additional acquisition, development and board fees beyond base management fees. The firm also provides non‑investment administrative services to affiliated entities for fixed fees and discloses allocation and governance features—such as co‑investment windows and advisory committees—that prospective institutional investors should consider.