Investment Fund I

Commercial, Industrial & Mixed-Use Property Management


The platform’s flagship fund, consolidating property management operators serving office, industrial, and mixed-use assets for institutional and private owners nationwide.

$2.143B
Committed Capital
17–22%
Net IRR Target
8 yr
Fund Term
Commercial
Strategy
Strategy

Investment thesis

UpManagement Fund I acquires and scales property management companies that operate commercial office towers, industrial and logistics parks, and mixed-use town centers. Rather than owning the underlying real estate, the fund owns the operating layer that keeps these assets full, compliant, and cash-generative — leasing coordination, building operations, tenant services, capital-project oversight, and financial reporting. We underwrite each acquisition to conservative client-retention and fee-revenue assumptions, integrate it onto a single technology and reporting stack, then compound door count through client cross-referral and disciplined organic growth.

Terms

Fund architecture

VehicleDelaware Limited Partnership
Term8 years (+ two 1-year extensions)
Preferred return8% preferred return
Carried interest20% carried interest above preferred
WaterfallAmerican waterfall with GP clawback
Minimum LP$1,000,000
AuditorPricewaterhouseCoopers LLP
Legal counselLePore Law Group
Target net IRR17%–22% net
Target assets

Where this fund concentrates

  • Class A and Class B commercial office management portfolios in top-25 metros
  • Industrial, warehouse, and last-mile logistics facility management
  • Mixed-use and town-center management combining retail, office, and residential
  • Institutional and REIT third-party management contracts
Operating discipline

The numbers we run to

Every managed property is held to weekly operating metrics. These are the disciplines that distinguish an institutional operator from a passive fee collector.

Collections rate

Weekly monitoring across every managed asset

Work-order SLA

Response and close-out compliance tracked per building

Tenant retention

Renewal capture and occupancy durability

GPR vs. NRI

Gross potential rent realized against net rental income

Property management is the most undervalued operating layer in real estate. Run it like the business it is.
Alexandra Pohl, Founder and CEO

Speak with our investor relations team

For fund materials, capital account information, and partnership inquiries, reach UpManagement directly.

Contact Investor Relations