# FS REAL ESTATE ADVISOR, LLC

FS REAL ESTATE ADVISOR, LLC of PHILADELPHIA, PA is an SEC-registered investment adviser.

## Registration

- CRD: 306352
- Type: SEC-registered investment adviser
- SEC file number: 801-117727
- Location: 3025 JFK BOULEVARD, OFC 500, PHILADELPHIA, PA, 19104
- Phone: 215-220-6651
- Latest filing: 2026-06-10
- Regulatory AUM: $9.1B
- Discretionary AUM: $9.1B
- Clients: 133
- Accounts: 1

## Business model

- Compensation: % of AUM, Performance, Other
- Clients served: Investment cos

## Officers, owners & control persons (16)

| Name | Role | Location |
| --- | --- | --- |
| [David Jason Adelman](https://search.stillhousedata.com/person/317675) | MEMBER; PRINCIPAL | NEW YORK, NY |
| [Bryant Robert](https://search.stillhousedata.com/person/428638) | CHIEF LEGAL OFFICER | Greenwich, CT |
| [Michael Craig Forman](https://search.stillhousedata.com/person/661179) | CHAIRMAN AND CEO; LIMITED PARTNER; MANAGING MEMBER (+1 more) | — |
| [Michael Jay Heller](https://search.stillhousedata.com/person/661180) | TRUSTEE | — |
| [Elizabeth Camilla Detwiler](https://search.stillhousedata.com/person/661181) | MANAGING DIRECTOR/CCO | — |
| [Stephen Scott Sypherd](https://search.stillhousedata.com/person/661182) | GENERAL COUNSEL | — |
| [Marc Robert Bryant](https://search.stillhousedata.com/person/661183) | CHIEF LEGAL OFFICER | — |
| [Thomas Robert Trala](https://search.stillhousedata.com/person/661184) | TRUSTEE | — |
| [Philip Maximilian Browne](https://search.stillhousedata.com/person/680210) | CHIEF FINANCIAL OFFICER | — |
| [FORMAN MICHAEL CRAIG](https://search.stillhousedata.com/person/764664) | CHAIRMAN AND CEO; LIMITED PARTNER; MANAGING MEMBER (+2 more) | — |
| [HELLER MICHAEL JAY](https://search.stillhousedata.com/person/816408) | TRUSTEE; TRUSTEE, THE 2011 FORMAN INVESTMENT TRUST; TRUSTEE, THE 2911 FORMAN INVESTMENT TRUST | — |
| [ADELMAN DAVID JASON](https://search.stillhousedata.com/person/835616) | MANAGING MEMBER OF THE GENERAL PARTNER; MEMBER; PRINCIPAL | — |
| [DETWILER ELIZABETH CAMILLA](https://search.stillhousedata.com/person/835617) | CHIEF COMPLIANCE OFFICER; MANAGING DIRECTOR/CCO | — |
| [Browne Philip](https://search.stillhousedata.com/person/848419) | CHIEF FINANCIAL OFFICER | — |
| [sypherd stephen](https://search.stillhousedata.com/person/848420) | GENERAL COUNSEL | — |
| [Joseph David Mcgeehin](https://search.stillhousedata.com/person/973815) | CHIEF FINANCIAL OFFICER | — |


## Branch offices (1)

| City | State | Employees | Phone |
| --- | --- | --- | --- |
| NEW YORK | NY | 3 | 1-917-338-5082 |


## Related pages

- Form ADV Part 2 brochure: https://search.stillhousedata.com/firm/306352/brochure
- Similar advisers: https://search.stillhousedata.com/firm/306352/similar
- Related entities: https://search.stillhousedata.com/firm/306352/related
- SEC IAPD (source of record): https://adviserinfo.sec.gov/firm/summary/306352

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Source: public SEC Form ADV data via Adviser Search (https://search.stillhousedata.com).
Agents: this data is also queryable via MCP tools and read-only SQL — see https://search.stillhousedata.com/llms.txt.