BLUESTONE REAL ESTATE CAPITAL LAUNCHES BLUESTONE EQUITY PARTNERS
Philadelphia, PA – May 9, 2007 —
BlueStone Real Estate Capital has formed a strategic alliance with Arevo Capital, LLC to create BlueStone Equity Partners, a commercial real estate investment firm providing sponsor level equity in commercial real estate transactions.
Leveraging the Arevo Capital, LLC investment platform, BlueStone Equity Partners invests in commercial real estate across asset types and geographies focusing on value add, reposition and development of institutional quality assets. BlueStone Equity Partners’ investment structure is to partner and co-invest with best-in-class local operating partners with the knowledge and expertise required to execute on a programmatic investment strategy.
Since the creation of the strategic alliance, the combined entities have closed on more than 1,000 multi-family units and have another 735 units under agreement with the same operating partner. The total cost of these projects is expected to approach $100,000,000, including estimated renovation costs.
Matthew Loffer, formerly of AMC Delancey Group, Inc., a private real estate investment firm that provides equity and expertise to qualified owners, operators, and developers, will serve as managing director of the new company.
“The creation of BlueStone Equity Partners, in conjunction with BlueStone Real Estate Capital, is a win-win for Arevo Capital and BlueStone,” says Matthew Loffer, co-founder and managing director of BlueStone Equity Partners. “We are extremely excited about the relationship and look forward to realizing the benefits from alignment with a preeminent investment banking firm like BlueStone.”
“The opportunity to create BlueStone Equity Partners with Arevo Capital adds yet another resource for our investment banking practice that allows us to continue to deliver the most innovative debt, equity, and now sponsor equity to the marketplace,” added Matthew McManus, chairman of BlueStone Real Estate Capital.
Leveraging the Arevo Capital, LLC investment platform, BlueStone Equity Partners invests in commercial real estate across asset types and geographies focusing on value add, reposition and development of institutional quality assets. BlueStone Equity Partners’ investment structure is to partner and co-invest with best-in-class local operating partners with the knowledge and expertise required to execute on a programmatic investment strategy.
Since the creation of the strategic alliance, the combined entities have closed on more than 1,000 multi-family units and have another 735 units under agreement with the same operating partner. The total cost of these projects is expected to approach $100,000,000, including estimated renovation costs.
Matthew Loffer, formerly of AMC Delancey Group, Inc., a private real estate investment firm that provides equity and expertise to qualified owners, operators, and developers, will serve as managing director of the new company.
“The creation of BlueStone Equity Partners, in conjunction with BlueStone Real Estate Capital, is a win-win for Arevo Capital and BlueStone,” says Matthew Loffer, co-founder and managing director of BlueStone Equity Partners. “We are extremely excited about the relationship and look forward to realizing the benefits from alignment with a preeminent investment banking firm like BlueStone.”
“The opportunity to create BlueStone Equity Partners with Arevo Capital adds yet another resource for our investment banking practice that allows us to continue to deliver the most innovative debt, equity, and now sponsor equity to the marketplace,” added Matthew McManus, chairman of BlueStone Real Estate Capital.
