Regis Metro Associates, the California-based real estate and advisory firm, has launched the RMA Private Label Real Estate Fund for wealth advisors, registered investment advisors and multi-family offices.

The new fund gives wealth advisors, on behalf of their high net worth clients, access to direct real estate investments via customized vehicles, with an annual asset management fee equal to 1 per cent of invested capital, as well as an incentive fee.

It works by advisors pooling their clients’ capital into the closed-end fund, with a minimum fund size of $5 million, up to a maximum of $75 million, which the firm said typically includes between five and 80 clients.

RMA has singled out the geographic targets for real estate investments as the greater metropolitan areas of: New York, NY, Washington, DC, Boston, MA, Seattle, WA, San Francisco, CA, and Los Angeles, CA.