A limestone facade catching the late afternoon sun

A holding company for permanent capital

Buildings, held
for generations.

FFB Holding acquires income-producing real estate and stewards it over decades, not cycles.

Founded
1994
Holdings
$2.1B
Markets
14 cities
Mandate
Long-hold
↓   Scroll
01 — Mandate

We buy assets that ought to outlast the people who underwrite them. Office that is good office. Industrial in the path of trade. Multifamily where families have always wanted to live.

FFB Holding is a single-family vehicle for the patient ownership of income-producing real estate. We do not flip. We do not chase cap-rate compression. We hold, we maintain, and we re-underwrite at the speed of the buildings themselves.

Our capital is internal and indefinite. There is no fund clock, no LP redemption window, and no pressure to monetise an asset that is doing exactly what we asked it to do — pay rent and accrue value in the ground beneath it.

02 — Portfolio

A small number of buildings, owned attentively.

Pre-war facade of a residential building in Brooklyn at golden hour
01

The Whitman

Brooklyn, NY
Type
Multifamily — 218 units
Acquired
2003
Size
212,000 sf
Granite office building corner with deep window setbacks
02

Sentinel Court

Boston, MA
Type
Office — Class A
Acquired
1998
Size
184,500 sf
Long industrial warehouse with loading bays at first light
03

Ardmore Logistics Park

Greater Philadelphia
Type
Industrial — 2 buildings
Acquired
2011
Size
642,000 sf
Stone-built mixed-use block on a Scottish corner
04

The Lothian

Edinburgh, UK
Type
Mixed-use — Retail + 64 residences
Acquired
2016
Size
98,200 sf

Selected holdings shown. Full register available on request to qualified counterparties.

Request the full register  →
03 — Approach

Four things we believe, and one thing we do.

  1. 01

    Buildings before spreadsheets.

    We walk every asset before we wire a dollar. Concrete, glazing, mechanicals, the texture of the street it sits on. The model exists to disqualify, not to convince.

  2. 02

    Permanent capital, patient timeline.

    Internal balance sheet. No fund vintage, no exit pressure. Hold periods are measured in tenant generations, not IRR windows.

  3. 03

    One owner, one phone number.

    Tenants, brokers, and contractors deal with the principal. We do not pass calls through three layers of asset management to reach the person who decides.

  4. 04

    Maintenance is the strategy.

    A roof replaced on schedule, a lobby cleaned twice a day, a boiler retired before it fails. Operating discipline compounds quietly, and it is most of the return.

And one thing we do: we own buildings, attentively, for as long as they reward attention.

04 — In numbers

Across 14 cities, a portfolio assembled one building at a time, since 1994.

31
Years held, longest
47
Buildings owned
7,400+
Residential doors
2.6M
Commercial sf
94%
Tenant retention, 5y avg
Zero
Recourse leverage
14
Cities
3
Buildings sold, ever

Figures as of 31 December 2025. Past performance is not indicative of future results, but a building well-bought tends to remain so.

05 — People

A small team, in one office, who answer their own phones.

  • Frederick F. Bell
    Principal
    Founder, 1994. Underwriting and acquisitions.
  • Margaret Solberg
    President
    Operations and asset management.
  • David Okonkwo
    Chief Financial Officer
    Capital structure and treasury.
  • Hana Ito
    Head of Construction
    Capital projects and building systems.