 These professional investors either invest directly in real property with their own in-house professional investment staff or via one or more different kinds of advised investment arrangements, investment vehicles or products offerings specifically designed to meet the needs of institutional investors.These arrangements typically are organized, structured and managed by third party professional real estate investment management firms, for a fee.Privately held Real Estate Development, Real Estate Investment and Real Estate Operating Companies – In addition, privately held real estate development, real estate investment and real estate operating companies also invest for their own account in the private equity real estate asset sub class.