TRECAP Partners Acquires Capmark Investments’ Real Estate Equity Advisory Business

PHILADELPHIA--()--TRECAP Partners LLC has acquired the real estate equity investment advisory business of Capmark Investments LP, including investment management contracts and general partnership interests in its real estate equity funds. The $4.3 billion portfolio includes 129 multifamily and commercial properties in the United States and 41 commercial and multifamily assets in Europe. These investments are held in four U.S. funds, one United Kingdom fund and several single asset/client accounts. The announcement of the transaction was made here today by Douglas A. Tibbetts, the chief executive officer of TRECAP, an affiliate of Hunt Companies, Inc.

The entire former Capmark Investments’ real estate equity leadership team — Robert Fabiszewski, William Martin, Wayne Harris, Paul Dolinoy, and Gene Conway as well as 25 other employees including five in the UK — are joining TRECAP to continue to manage the acquired funds and client accounts. TRECAP additionally offers its clients the resources of Transwestern’s nationwide network of property services offices and the Hunt Companies’ extensive operations platform. TRECAP was formed in 2009 to provide investment management and advisory services to institutional and high net worth investors as well as insurance companies and sovereign wealth funds.

In the 1990s, Dolinoy and Conway worked together with TRECAP's principals — Tibbetts, Gary Sligar, and Paul Klick — at Equitable Real Estate Investment Management, then the nation's leading real estate investment manager.

Tibbetts said: "TRECAP embraces the opportunity to work closely and effectively with all the clients invested in these acquired funds, who consented to this transaction. After a yearlong effort, we now have an extremely well capitalized firm, with a full range of investment services, and proudly join together with Bob Fabiszewski and the rest of his proven team to provide the highest level of service, meet our fiduciary responsibility, and deliver results," he said. "In especially challenging commercial real estate markets, the combined experience and knowledge in the TRECAP organization and our affiliates should provide a major advantage to our investors in core and value added real estate investments."

Fabiszewski, who oversees existing TRECAP funds, said: "The TRECAP platform brings welcome stability to our team, which stays together, and significantly enhances our operating capabilities for our clients, who should benefit from the substantial networks of services and support provided by the TRECAP principals, the Hunt Companies, and Transwestern. Our team embraces the opportunity to join an organization dedicated to achieving the highest standards of performance and client service."

TRECAP has offices in Sarasota, Philadelphia, San Francisco, Atlanta, Irvine, and London. Its operations are supported by Transwestern's U.S. network of 26 offices, and the Hunt Companies' significant operating platform, headquartered in El Paso, Texas.

Based in suburban Philadelphia, Capmark Investments’ equity real estate investment management business grew out of GMAC Commercial Mortgage Corporation, establishing a well regarded series of commercial real estate funds, specializing in multifamily assets, for institutional investors. More recently, the company expanded portfolio management into the UK, France and Germany.

About TRECAP Partners:

TRECAP provides real estate investment management and advisory services to pension funds, corporations, sovereign wealth funds, endowments, insurance companies, banks and high-net-worth money managers. The company has $4.3 billion in assets under management and supervision in the United States and Europe and its portfolios comprise holdings across all commercial property sectors — apartments, office, retail, and industrial.

TRECAP Partners’ portfolio includes:

  • Multifamily: 21,621 units
  • Office: 5.4 million square feet
  • Retail: 3.6 million square feet
  • Mixed-Use: 1.9 million square feet
  • Industrial: 1.2 million square feet

TRECAP’s principals headed leading investment and asset management companies, which steered clients successfully through the last severe real estate industry downturn and pioneered innovative funds/asset/property management strategies across the risk return spectrum investing in real estate equity and debt. The company also harnesses the considerable collective experience, expertise and financial strength of Hunt Companies, Inc. and Transwestern — and employees from predecessor firms, Capmark Investments and Equitable Real Estate Investment Management. These combined resources offer TRECAP clients a proven cycle-tested investment management team, local presence in 26 U.S. markets, proprietary research, and a national dealflow pipeline with extensive broker/local owner relationships.

A registered adviser with the SEC, TRECAP seeks to achieve long-term relationships with investors through proper alignment of interests, transparent reporting, frequent and timely communications, and most importantly an enduring commitment to meeting fiduciary responsibility. For more information, visit www.trecappartners.com.

About Hunt Companies:

Hunt Companies, Inc. and its affiliated companies are a privately held diversified investment, real estate development, design-build, construction management and asset/property management holding company. Founded in 1947, Hunt and its affiliated companies have become one of the nation’s leading developers and contractors with a focus on public-private ventures, military housing, mixed-use, multi-family housing, master-planned communities, retail, office, and value added asset management. Hunt’s real estate investments consist primarily of ownership interests in over 44,000 multi-family housing units across the country. In addition, Hunt owns commercial and industrial space, and residential and commercial land. In total, Hunt’s owned portfolio of real estate assets is in excess of $3 billion. The companies have been headquartered in El Paso and operated by the Hunt family for four generations. Regional offices are in Albuquerque, NM; Honolulu, HI; and Washington, D.C. Other Hunt affiliated companies include Hunt Development Group, Hunt Building Company, Hunt Communities, Hunt Military Communities, Hunt Holdings (Venture Capital and Private Equity), TRECAP Partners, and Cimarron Mortgage Capital. For more information, visit www.huntcompanies.com.

About Transwestern:

Transwestern, one of the largest privately held commercial real estate and development firms in the U.S., is focused on creating value for clients in each local market it serves. Transwestern’s unique business model offers fully integrated real estate services and operates through six distinct functional lines of business — agency leasing, property and facility management, investment services, tenant advisory, development and research — for a broad range of property types, including office, industrial, retail, healthcare and multifamily. Transwestern leads the industry in sustainability and has received multiple EPA ENERGY STAR® awards. For more information, visit www.transwestern.net.

Contacts

Miller Ryan LLC for TRECAP Partners
Mary Beth Ryan, 1-203-268-0158
marybeth@millerryanllc.com
or
For Hunt Companies, Inc.
Stephanie Sierra, 1-915-342-4565
stephanie.sierra@huntcompanies.com

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Contacts

Miller Ryan LLC for TRECAP Partners
Mary Beth Ryan, 1-203-268-0158
marybeth@millerryanllc.com
or
For Hunt Companies, Inc.
Stephanie Sierra, 1-915-342-4565
stephanie.sierra@huntcompanies.com