David Adelman
Overview
- Source of Wealth
- Real estate, asset management
- Industry
- Real Estate
- Residence
- Haverford, Pennsylvania
- Marital Status
- Married
- Children
- 2
Biography
David Adelman is a real estate, alternative investments and sports mogul.
His Campus Apartments is one of the largest providers of on- and off-campus housing in America, with some $2 billion of properties across 80 schools in 23 states.
He is also cofounded Future Standard, an alternative investments firm that manages $86 billion across mutual funds, REITs and other vehicles. He's vice chairman.
He has a 7% stake in Harris Blitzer Sports & Entertainment, which owns the NHL's New Jersey Devils and the NBA's Philadelphia 76ers. He's spearheading a plan to build the Sixers a $1.3 billion arena.
A Philadelphia native, Adelman got his start using $2,000 of bar mitzvah money to invest with student housing entrepreneur and family friend Alan Horwitz.
He then went to work for Horwitz, rising to CEO at age 25, and began taking more and more of the equity as he expanded Campus Apartments nationwide.
About
Adelman first invested in a building at the corner of 45th and Pine streets, which he still owns today. He chose it at age 13 because it was the tallest one he saw.
Through his Darco Capital, Adelman has invested in everything from soccer club Crystal Palace F.C. to private jet charter company WheelsUp, where he's on the board.