PHILADELPHIA — TRECAP Partners, an affiliate of Hunt Cos., has acquired the real estate equity investment advisory business of Horsham, Pa.-based Capmark Investments LP. The acquisition includes Capmark’s investment management contracts and general partnership interests in real estate equity funds.
“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,” said Douglas Tibbetts, CEO of TRECAP, in a press release.
The $4.3 billion portfolio includes 129 multifamily and commercial properties in the United States and 41 commercial and multifamily properties in Europe. The assets are held in four U.S. funds, one United Kingdom fund and several single asset/client accounts. Capmark’s former clients will now have access to networks of services and support provided by TRECAP, Hunt Cos. and Transwestern.
The former Capmark real estate equity leadership team, including Robert Fabiszewski, William Martin, Wayne Harris, Paul Dolinoy and Gene Conway, as well as 25 other employees, is joining TRECAP to continue the management of the acquired funds and client accounts.
Tibbetts added, “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.”
TRECAP has offices in Sarasota, Fla., Philadelphia, San Francisco, Atlanta, Irvine, Calif., and London. Its operations are supported by Tranwestern’s U.S. networks of 26 offices and El Paso, Texas-based Hunt Cos.
— Amy Bigley