Banks helping rich clients invest in marquee property deals

New York

WHAT does Manhattan's tallest residential tower have in common with the Hooters hotel-casino in Las Vegas? They're investments for rich families.

JPMorgan Chase & Co, Citigroup Inc and HSBC Holdings plc are among banks presenting elite customers with offerings once confined to big institutional investors: access to real estate projects such as Manhattan's 432 Park Ave, Las Vegas' Hooters hotel and US$100 million Los Angeles mansions. With the ranks of the rich growing, the perk gives wealthy clients a chance to benefit from soaring property values and step into marquee deals.

"It's a way clients globally are gaining exposure to real estate in bite-sized chunks," said Paul Forshaw, London-based head of real estate fund management…