Aaron Sacks

Aaron Sacks serves as Managing Director and General Counsel at Realterm, a transportation-focused independent global investment manager headquartered in Annapolis, MD. Since joining the firm in 2013, Sacks has been instrumental in Realterm’s growth from $2 billion to over $13 billion in assets under management across more than 400 investments spanning North America, Europe, the United Kingdom and Australia. As the firm’s dedicated in-house counsel, Sacks has played a central role in the fundraising and legal structuring for every investment vehicle and major transaction throughout this expansion.

Since joining Realterm, Sacks has served as lead counsel on transactions that have fundamentally shaped the firm’s growth trajectory. In the early years of his tenure, he led the initial fundraising and closing of Realterm Airport Logistics Properties, LP (approximately $700 million of equity to date), an open-ended investment vehicle that recapitalized assets managed by Aeroterm, Realterm’s on-airport logistics platform throughout North America. He also oversaw development of a variety of major on-airport projects.

Building on this foundation, Sacks structured and closed three successive closed-end value-add funds—Realterm Logistics Fund, LP ($200M equity), Realterm Logistics Fund II, LP ($240M equity), and Realterm Logistics Fund III, LP (projected $350M equity)—focusing on off-airport logistics assets in the U.S. As Realterm expanded internationally, Sacks spearheaded the formation of Realterm Europe Logistics Fund, LP (projected €100M of equity) and established the firm’s European management company platform to provide management services for Realterm’s European investment activity.

Advancing Realterm’s global expansion, Sacks established the firm’s Asia Pacific presence by providing legal counsel for the Singapore office opening in October 2021 and the subsequent expansion into Australia with the Sydney office in September 2022.

Over the past three years, Sacks has overseen Realterm’s transition to becoming a Registered Investment Advisor, working closely with the firm’s Chief Compliance Officer to establish the policies, procedures and compliance infrastructure necessary for this regulatory framework. Beyond his transactional work, Sacks has demonstrated commitment to building institutional infrastructure. As Chair of Realterm’s Governance Committee, he led the creation and implementation of a comprehensive governance framework.

These are some of the reasons why Aaron Sacks received Connect CRE’s 2025 National Lawyers in Real Estate Award. The award celebrates real estate attorneys who have distinguished themselves in their practice and the larger community.