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SEC filing record
Primary Source · SEC.gov

HEITMAN AMERICA REAL ESTATE TRUST (PF #1), L.P.

Fund Vehicle2025 vintage506(b), 3(c)
Latest signalStalledForm D/A · 2025-06-20Last filing 2025-06-20

Raised

$124M

Investors

3

Min Invest

$50,632,911

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AltStreet Analysis

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Generated from EDGAR primary sources

HEITMAN AMERICA REAL ESTATE TRUST (PF #1), L.P. is a Delaware limited partnership filing under Rule 506(b) and Section 3(c) exemptions. This amended filing reports $124.3 million raised from 3 investors, with a minimum investment of $50.6 million. The entity operates as a pooled investment fund in the real estate sector, with six executive officers including Maury Tognarelli, Thomas McCarthy, and Blaise Keane.

This real estate fund exhibits institutional characteristics typical of private funds with 506(b) exemptions: a small investor count, high minimum investment threshold exceeding $50 million, and no general solicitation. The minimum investment level places this offering firmly in the institutional or ultra-high-net-worth segment, well above typical real estate syndication minimums of $25K–$500K.

Data Flags

minimum investmentMinimum investment of $50.6M represents 40.7% of total amount sold ($124.3M), indicating each investor commitment approaches or exceeds the stated minimum floor
investor compositionAverage investment per investor is $41.4M across 3 investors, suggesting concentrated institutional capital with potentially uneven check sizes given the $50.6M stated minimum

Critical Disclosures

What the filings and the regulators have said about this entity that a reader should know first. Each line links to its source. The history, the same event across other issuers, and alerts are in the terminal.

Offering stalled · Form D · last filing June 20, 2025

Latest annual amendment reported no change in amount sold or investors

Timeline
Each line is a fact as filed. The history behind it, the same event across other issuers, and an alert on the next one:Open in the terminal Watch this issuer

EDGAR Filing Data

Form D — Primary Source

View on SEC.gov
CIK Number0001582314
Entity NameHEITMAN AMERICA REAL ESTATE TRUST (PF #1), L.P.
ExemptionRule 506(b), Section 3(c), Section 3(c)(7)
What the exemption meansRule 506(b) of Regulation D: securities may be sold to an unlimited number of accredited investors and up to 35 non-accredited investors who meet the rule's sophistication standard, without general solicitation or advertising. Section 3(c) of the Investment Company Act of 1940: the issuer is a pooled investment vehicle relying on an exclusion from registration as an investment company. Section 3(c)(7) of the Investment Company Act: the fund is excluded from investment-company registration because every investor is a qualified purchaser, generally an individual with at least $5 million in investments or an institution with at least $25 million.
Entity TypeLimited Partnership
Jurisdiction of OrganizationDelaware
Issuer AddressC/O Heitman Capital Management LLC, 191 North Wacker Drive, Suite 2500, Chicago, IL 60606
Phone(312) 855-5700
Industry / Fund TypePooled Investment Fund · Other Investment Fund
Investment Company ActExcluded under Section 3(c)(7) (qualified purchasers only)
Securities TypeEquity, Pooled Investment Fund
First Sale Date—
Filing DateJune 20, 2025
Accession Number0001315863-25-000470
Total Offering AmountIndefinite
Total Amount Sold$124,292,760
Total Investors3
Non-Accredited InvestorsNone
Minimum Investment$50,632,911
Offering DurationIntended to last more than one year
Sales Commissions$100,000 (to HEITMAN SECURITIES LLC and 2 others)
Finders' Fees$0
Net Asset Value RangeDecline to Disclose
State (Issuer Address)IL
Amendment Count10 amendments filed

Filings on Record

Every filing AltStreet's ledger holds for this CIK, newest first. Each opens the SEC archive folder.

D/AJune 20, 2025D/AJune 20, 2024D/AJune 22, 2023D/AJune 24, 2022D/AJune 24, 2021D/AJune 23, 2020D/AJune 25, 2019D/AJune 27, 2018D/AJune 1, 2017D/AJune 1, 2016

Capital Raise Timeline

11 Form D filings from Jul 25, 2013 to Jun 20, 2025, the latest a D/A.

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In the Terminal

Filing events

2

latest Jun 20, 2025

Critical / warning

0 / 0

2 watch · 0 info

Statements extracted

0

none on file

NAV prints

0

none on file

Offering chains

1

stalled

Latest event Stalled · Jun 20, 2025

SEC.gov
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Fund family Part of the HEITMAN AMERICA REAL ESTATE TRUST family: 2 vehicles across 1 generation · full family and the filing behind each link in the terminal

Investor

  • The full fund family and any related vehicles (parallel, feeder, successor, sibling series) with the filing that shows each link
  • 2 filing events with values and deltas, latest 2025-06-20, and alerts on the next one
  • 1 offering timeline: velocity, share raised, first-sale lag, stalled flags

Pro

  • This issuer against its cohort: rank by velocity and share raised among offerings filed the same quarter
  • The same events, statements and NAV moves across every issuer, screenable, with unlimited watches and CSV

Counts and dates above are the free record. The values, the series and the comparisons are the seat. Loading your view…

Related Persons (Form D)

Executive officers, directors, and promoters listed on the SEC Form D filing. Source: SEC.gov.

Item 3 changed on the Form D filed 2025-06-20: 1 related person added and 1 removed against the filing of 2024-06-20; 6 now listed. The names are in the Terminal feed.

MAURY TOGNARELLI

Executive Officer · CHICAGO, IL

THOMAS MCCARTHY

Executive Officer · CHICAGO, IL

BLAISE KEANE

Executive Officer · CHICAGO, IL

LEWIS INGALL

Executive Officer · CHICAGO, IL

PETE FAWCETT

Executive Officer · CHICAGO, IL

AMY KRASS

Executive Officer · CHICAGO, IL

Placement Agents and Sales Compensation (Form D)

Who the issuer reported paying to sell the securities (Form D Item 12), with the FINRA registration number the filer gave. Source: SEC.gov.

HEITMAN SECURITIES LLCCRD 13620 on BrokerCheck

Associated broker-dealer: None · CHICAGO, IL · Soliciting in CA

Heitman International HK LimitedCRD 170550 on BrokerCheck

Associated broker-dealer: None · Central, K3 and outside the United States

Heitman International Real Estate Securities Pty LimitedCRD 154476 on BrokerCheck

Associated broker-dealer: None · Melbourne, C3 and outside the United States

Questions About HEITMAN AMERICA REAL ESTATE TRUST (PF #1), L.P.

Each answer is built from the values on the SEC filing and the AltStreet ledger, not from the issuer's marketing.

What is HEITMAN AMERICA REAL ESTATE TRUST (PF #1), L.P.?

HEITMAN AMERICA REAL ESTATE TRUST (PF #1), L.P. is a Delaware limited partnership that filed a Form D with the SEC on June 20, 2025 as a other investment fund. The filing claims Rule 506(b), Section 3(c), Section 3(c)(7) for an offering of equity and pooled investment fund interests. AltStreet links the issuer to HEITMAN AMERICA REAL ESTATE TRUST (PF #1), L.P..

Is HEITMAN AMERICA REAL ESTATE TRUST (PF #1), L.P. legit?

AltStreet does not rate legitimacy; it reports the public record. HEITMAN AMERICA REAL ESTATE TRUST (PF #1), L.P. filed a Form D with the SEC on June 20, 2025 claiming Rule 506(b), Section 3(c), Section 3(c)(7). A Form D is a notice of an exempt offering, not a review or approval of it. The newest notice reports $124,292,760 sold to 3 investors. AltStreet's enforcement record (SEC, FINRA and state actions) shows no action naming the issuer as of today. The issuer is linked to HEITMAN AMERICA REAL ESTATE TRUST (PF #1), L.P., which AltStreet has reviewed. Before investing, confirm the filing on EDGAR, check the seller's registration on FINRA BrokerCheck, and read the offering documents, which a Form D does not include.

Is HEITMAN AMERICA REAL ESTATE TRUST (PF #1), L.P. registered with or approved by the SEC?

No. A Form D is a notice that an issuer is selling securities under an exemption from registration, and the SEC does not review, approve, or pass on the merits of the offering. The filing shows that HEITMAN AMERICA REAL ESTATE TRUST (PF #1), L.P. claimed Rule 506(b), Section 3(c), Section 3(c)(7) and disclosed the items the form requires, such as the amount sold, the minimum investment, related persons, and anyone paid to sell the securities. It does not verify the issuer's claims or its business.

How much has HEITMAN AMERICA REAL ESTATE TRUST (PF #1), L.P. raised?

HEITMAN AMERICA REAL ESTATE TRUST (PF #1), L.P. reported $124,292,760 sold from 3 investors in an offering of indefinite size as of the Form D filed June 20, 2025.

Who can invest in HEITMAN AMERICA REAL ESTATE TRUST (PF #1), L.P.?

The offering relies on Rule 506(b), which permits sales to accredited investors and to no more than 35 non-accredited investors who meet a sophistication standard, and prohibits general solicitation. Because the fund also relies on Section 3(c)(7), each investor must be a qualified purchaser, generally an individual with at least $5 million in investments. The filing reports no non-accredited investors. The minimum investment accepted from an outside investor is $50,632,911.

What is the minimum investment in HEITMAN AMERICA REAL ESTATE TRUST (PF #1), L.P.?

The Form D lists $50,632,911 as the minimum investment accepted from any outside investor as of June 20, 2025. Issuers can waive their own minimums, and the figure does not include fees.

Who is selling HEITMAN AMERICA REAL ESTATE TRUST (PF #1), L.P. and how are they paid?

The Form D names HEITMAN SECURITIES LLC (CRD 13620), associated with None; Heitman International HK Limited (CRD 170550), associated with None; Heitman International Real Estate Securities Pty Limited (CRD 154476), associated with None as recipients of sales compensation soliciting in CA. Sales commissions are reported as $100,000 and finders' fees as $0. Form D allows these to be estimates.

Who is behind HEITMAN AMERICA REAL ESTATE TRUST (PF #1), L.P.?

The Form D lists 6 related persons: MAURY R. TOGNARELLI, executive officer (PRESIDENT OF HEITMAN AMERICA REAL ESTATE TRUST, LLC, THE GENERAL PARTNER OF THE ISSUER); THOMAS D. MCCARTHY, executive officer (EXECUTIVE VICE PRESIDENT AND SECRETARY OF HEITMAN AMERICA REAL ESTATE TRUST, LLC, THE GENERAL PARTNER OF THE ISSUER); BLAISE P. KEANE, executive officer (EXECUTIVE VICE PRESIDENT OF HEITMAN AMERICA REAL ESTATE TRUST, LLC, THE GENERAL PARTNER OF THE ISSUER); LEWIS S. INGALL, executive officer (EXECUTIVE VICE PRESIDENT OF HEITMAN AMERICA REAL ESTATE TRUST, LLC, THE GENERAL PARTNER OF THE ISSUER); PETE S. FAWCETT, executive officer (EXECUTIVE VICE PRESIDENT OF HEITMAN AMERICA REAL ESTATE TRUST, LLC, THE GENERAL PARTNER OF THE ISSUER); AMY S. KRASS, executive officer (SENIOR VICE PRESIDENT OF HEITMAN AMERICA REAL ESTATE TRUST, LLC, THE GENERAL PARTNER OF THE ISSUER). Form D Item 3 requires executive officers, directors, and promoters of the issuer to be listed.

Where is HEITMAN AMERICA REAL ESTATE TRUST (PF #1), L.P. located?

The issuer's address on its SEC filings is C/O Heitman Capital Management LLC, 191 North Wacker Drive, Suite 2500, Chicago, IL 60606. Its phone number of record is 312-855-5700. It is organized under the laws of Delaware.

How long is the HEITMAN AMERICA REAL ESTATE TRUST (PF #1), L.P. offering open?

The issuer indicated that the offering is intended to last more than one year. An issuer must amend its Form D annually while a continuing offering stays open; 10 amendments are on record for this CIK.

How large is HEITMAN AMERICA REAL ESTATE TRUST (PF #1), L.P.?

The issuer declined to disclose its net asset value range on the Form D, which the form permits.

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Data Methodology

Capital raise figures, investor counts, and filing dates are sourced directly from SEC EDGAR Form D primary documents via the SEC EDGAR submissions API and full-text search index. EDGAR entity profiles and deal-level data are reviewed by AltStreet analysts with backgrounds in corporate finance and securities law — cross-referenced against offering circulars, audited financial statements, and primary regulatory filings before publication. Platform-provided information, where present, is clearly labeled and does not affect EDGAR data or AltStreet editorial coverage. Platforms may request factual corrections for demonstrable inaccuracies by contacting [email protected]. This page does not constitute investment advice.