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- AFFILIATED COMPANIES -

AOZA, together with the other Linneman affiliated companies—Linneman Associates, Linneman ARPA, KL Realty Fund, and American Land Fund Management—represents a team of market experts and innovators, driven by research based investing. While powerfully connected to bring the best insights to its clients and investors, confidentiality and strong code of ethics ensure that the affiliates maintain integrity and preserve value to its constituents.

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Linneman Associates

Linneman Associates, founded in 1979 by Dr. Peter Linneman and managed together with partner Deborah Moy, it is one of the real estate industry’s leading consulting and investment advisory firms. Linneman Associates specializes in commercial real estate investment strategy with a customized approach. Located in Philadelphia, Linneman Associates serves clients across many different industries and countries, but primarily institutional investors, REITs, developers, and opportunistic private equity firms. Linneman Associates is focused on providing clients with market insights and analyses by assessing and simplifying the ever-changing macroeconomic, political, and capital market environments, particularly as they relate to commercial real estate investing. Dr. Peter Linneman has been a critical influence in driving the professionalization of real estate capital markets and the commercial real estate industry. Thousands of global and regional real estate investment professionals look to Linneman Associates’ insights each quarter through subscriptions to The Linneman Letter, an industry research standard for over 20 years. Dr. Linneman's Real Estate Finance and Investments textbook and the online education certification ("REFAI" designation), continues to educate the industry's leaders in the US, as well as internationally.

Linneman ARPA

Linneman ARPA is a real estate investment platform focused on a value-add approach in the multifamily sector throughout major markets in the US. Linneman ARPA Fund was established in 2021 by AOZA and a Mexican investment firm with whom KL Realty has had a long working relationship with. Partners of Linneman ARPA have over 150 years of experience in the real estate industry and have invested over $20 billion in real estate throughout their careers. Linneman ARPA's investment approach is highly quantitative and research-driven, with a well-informed view of cyclical and secular market developments.

KL Realty Fund (KLR)

KL Realty Fund (KLR) is a Philadelphia-based private real estate investment firm launched in 2010 by principals Dr. Peter Linneman and Christine Kwak. KLR applies a unique single asset investment format that provides investors with transparency, governance and risk-adjusted returns. KLR's strategy is to acquire income producing commercial properties in primary and secondary markets for value-add and core-plus opportunities.​ Aris Real Estate Ventures was created in 2010 by Christine Kwak, in conjunction with the formation of KLR to provide integrated asset management process from acquisition, renovation, and leasing to dispositions. Aris invests and manages for its own account as well as on behalf of Linneman affiliates.

American Land Fund (ALF)

Founded in 2005 by CEO Dr. Peter Linneman, American Land Fund (ALF) is a private real estate equity firm based in Philadelphia, Pennsylvania that acquired attractive land assets in the path of development, with a focus on creating value through entitlements and local market knowledge. Knowledgeable and experienced team manages the properties, obtains entitlements, and markets the land assets to developers and builders for dispositions. ALF is projected to have fully harvested all of the land assets by 2023.

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