Local Asset Management focuses on providing investment advice to privately pooled investment vehicles (Funds) that invest in real estate assets, including commercial loans. The firm acts as the manager to these Funds, making opportunistic investments based on specific criteria to develop a long-term investment strategy. The firm's principal owner is Brendan Keating. Management decisions are not tailored to individual investor needs within the Fund.
Fee Structure
Local Asset Management receives a management fee from the Fund, payable monthly. This fee is 1% per year, based on the principal amount of loans made and the original cost of real property acquired during the year. After the initial year, the fee is based on the annual appraised value of the real property and other cash assets. Local Asset Management also receives up to 25% of the Fund's net profits as a performance-based incentive.