Richard Schaupp

Throughout his 30 years of experience in real estate, Clarion Partners’ Richard Schaupp has made industry relationships a priority.

Schaupp joined Clarion as a vice president in 2000 and started in his current role as a portfolio manager about 10 years ago, when Clarion first partnered with Legg Mason, now Franklin Templeton, to expand its business into the private wealth space.

“I’ve really been responsible for leading the relationships with Franklin Templeton, and thinking about how we can position these products and work to broaden our investor base,” Schaupp said. “So I have the investment side on those products, and the expansion of relationships in the private wealth space as part of my role.”

Schaupp also leads the Clarion Partners Real Estate Income Fund (CPREX), which launched nearly six years ago and has been active in building the firm’s portfolio of 160 residential properties across the U.S. 

In November 2023, for instance, Clarion and Affinius Capital provided a $157.5 million refinancing loan to Bridge Investment Group and Lowe Property Group for their 580-unit project in Downtown Salt Lake City. Clarion also recently bought a 1980s-built, 136-unit apartment community called the Gates at Marina in Marina, Calif., which was part of Clarion’s strategy to focus on investing in “next-generation” cities such as Charlotte, Nashville, Tampa, Austin, Denver and Salt Lake City.

“We definitely have been focusing on those alternative sectors, in more build-to-rent communities, recognizing that millennials are getting older and it’s harder to buy that first home,” Schaupp said.

In addition to residential, Clarion boasts $44 billion worth of warehouse properties, $9 billion worth of office assets, and $4.6 billion of “alternative” properties.

“We think we’re entering a new real estate cycle here, and I’m super passionate and excited about working on a product that’s allowing access to a much broader group of people,” Schaupp said.