Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEW YORK CITY-Locally based hedge fund Perry Capital is getting into the real estate business. Robert Stern and Andrew Isikoff have joined the firm to form Perry Real Estate Partners, an opportunistic real estate investment vehicle. In an exclusive GlobeSt.com interview, the principals, both Blackacre Capital Management alums, explain the new entity’s strategy and goals.

“We are going to be stressing the formation of alliances with partners around the country who are the top developers and operators in their given markets and who have been on the lookout for capital,” Isikoff tells GlobeSt.com. “We want to be their first call every time they find a deal worth looking at. We’re going to achieve this by providing capital on a timely basis and becoming a value-add partner as opposed to just a checkbook.

Officially in business since July 15, the firm will invest in distressed debt and securities, provide mezzanine and bridge financing, and make equity investments in real estate assets throughout the US “on all types of properties in all locales,” Stern says. While the new venture is starting off with no new business on its books, Stern says the pair’s combined experience and contacts should help get the ball rolling.

“We have a background in opportunistic investing, having come from our former shop,” Stern notes. “And over the course of our careers we have developed a variety of sources among developers, brokers, lenders, attorneys, etc., from whom we hope to get out our message.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.