PHILADELPHIA-A new real estate advisory and investment firm has opened its doors here. Founded by senior managing partner Andrew Benioff and called Llenrock Group, LLC, the firm offers investment brokerage, asset management and capital placement services. Within a few months, Benioff tells, the company expects to announce enhancements to its offerings, more expertise in the hotel sector–in which Benioff has an extensive background–as well as capital to be invested directly in projects.

Currently, Llenrock is focusing on providing capital in the $20-million to $200-million range as well as brokerage services, Benioff says. “That is our sweet spot.” Placement goals for this year are fairly modest–ranging between $115 million to $200 million. Benioff is already working on some transactions including “a number of multifamily transactions on both debt and equity side, some office on the mezz and equity side, a fairly large number of hotel deals from equity to construction debt to acquisition debt and both equity and acquisition debt for a large retail portfolio.” Capital sources to which the firm is offering access include public and private joint venture equity, high net worth individuals, international and US banks, pension and hedge funds, life insurance companies and both domestic and foreign-based credit companies.

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