Legg Mason Real Estate Services Inc (Philadelphia)


Legg Mason Real Estate Services Inc is a large advisory firm based in Philadelphia. It manages $1.62 billion of regulatory assets for 14 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdiction of Pennsylvania.

Legg Mason Real Estate Services provides portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, and portfolio management for businesses and institutional clients. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Legg Mason Real Estate Services: assets under management

The assets under management (AUM) of Legg Mason Real Estate Services Inc is $1.62 billion. The firm's AUM has gone down by -15% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $392.21 million in discretionary accounts and $1.23 billion in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $130.74 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $112.06 million.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Legg Mason Real Estate Services Inc for their services and products based on a percentage of assets under management, fixed fees, and performance-based fees. The adviser charges an additional fee when a set benchmark is outperformed. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

Careers at Legg Mason Real Estate Services Inc

Richard Jay Himelfarb has been acting as President since 1 Oct 1990. William Abelmann joined the executive team most recently as the Member Board Of Directors.

Direct owners and executive officers


Name Entity Date acquired Ownership Employer ID
Elliott Joseph Huesken Executive v.p. & cfo 1 May 1974 Other 4389177
M Walter Dalessio Director, president & ceo 1 Jan 1982 Other 2369838
Eugene John Veneziale Director, executive v.p. & coo 1 Mar 1982 Other 4389181
Robert Craig Butchenhart Executive v.p. 1 Mar 1983 Other 4389161
Richard Jay Himelfarb Director 1 Oct 1990 Other 1213788
Raymond Adams Mason Director 1 Oct 1990 Other 322297
Inc. Legg Mason Sole shareholder of applicant 1 Oct 1990 75% - 100% 52-1200960
Douglas Scott Callantine Executive v.p. 1 Sep 1994 Other 4389163
Michael J. Mcpaul Director of asset management and client accounting 1 Sep 1994 Other 4390331
Kathleen Margaret Hands Director of equity 1 Sep 1997 Other 4389171
Richard Keith Layman Managing director 1 Sep 1997 Other 4389179
Robert Craig Butchenhart President mortgage banking 1 May 2001 Other 4389161
Douglas Scott Callantine President investment advisory group 1 May 2001 Other 4389163
M Walter Dalessio Chairman and ceo 1 May 2001 Other 2369838
Kathleen Margaret Hands Managing director 1 May 2002 Other 4389171
Richard Keith Layman Senior managing director 1 May 2002 Other 4389179
Enda Joseph Bracken Director asset management 1 May 2002 Other 4554703
Douglas Scott Callantine President, 1 Oct 2003 Other 4389163
M Walter Dalessio Chairman 1 Oct 2003 Other 2369838
Richard Keith Layman Senior managing director, director 1 Oct 2003 Other 4389179
Michael J. Mcpaul Senior director, accounting & finance 1 Oct 2003 Other 4390331
Peter Lanning Bain Director 1 Oct 2003 Other 4221890
Grosvenor Fund Management Usa Inc. Sole shareholder 1 Mar 2006 75% - 100% 201918095
William Abelmann Member- board of directors 1 Apr 2006 Other 5138474
Stuart Robert Beevor Chairman 1 Apr 2006 Other 5138494

Indirect Owners

The SEC currently registers 7 indirect owners.

Name Entity Date acquired Ownership Employer ID
Jeremy Henry Newsum Trustee 1 May 1994 Other 5138674
Robin Shedden Broadhurst Trustee 1 Jan 1999 Other 5138679
Mark Antony Loveday Trustee 1 Nov 1999 Other 5138678
Grosvenor Fund Management (Usa) Inc Owner 1 Mar 2006 75% - 100% 201918095
Grosvenor International Fund Management Limited Sole shareholder 1 Mar 2006 75% - 100% foreign
Grosvenor Fund Management Limited Sole shareholder 1 Mar 2006 75% - 100% foreign
Grosvenor Group Limited Sole shareholder 1 Mar 2006 75% - 100% foreign

Based in Philadelphia

The principal office where Legg Mason Real Estate Services Inc performs its advisory services is located at 1600 Market Street, Philadelphia, PA 19103, which is also the mailing address of the firm. An additional office of the firm is in King Of Prussia, PA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 215-446-8100 or by fax 215-446-8101. The normal business hours are 8:30 am to 5:00 pm on Monday - Friday. You can find more information about the New York firm at www.lmres.com.

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