LOS ANGELES-Commercial real estate firm Sperry Van Ness International Corp. has formed a strategic alliance with DealPoint Merrill to expand its national equities platform. The new platform will focus on value-add and co-investment opportunities and development services.
In forming the partnership, DealPoint Merrill saw a “demand for redevelopment and adaptive reuse real estate designed for Sperry Van Ness advisors and 1031 exchange investors,” according to DealPoint Merrill CEO David Frank. The company seeks to acquire undervalued investments where value can be quickly enhanced. It then turns over the investment for an equally fast return. “Our exit strategy is keenly focused on keeping what we have made,” says DealPoint Merrill CIO Sterling McGregor. “Consequently, we provide exit strategies designed to protect our investor’s hard won profits. Secondly, we focus on proven asset types that will provide a strong margin of safety in case the market changes.”
Through the partnership with Sperry Van Ness, DealPoint will bring these types of opportunities to Sperry Van Ness advisors as co-investors. “We continually strive to provide the highest level of service and find new ways to add value for our clients,” says Kevin Maggiacomo, Sperry Van Ness president and CEO. “We believe our relationship will increase the preeminence of the Sperry Van Ness brand of innovative thought leaders.”
Value-add investments have been a focus for several investment funds lately as well. GlobeSt.com reported in an earlier story that Regent Properties held the first closing of its Office Fund II with $60 million in commitments. The fund targets value-add and undervalued assets.