Multifamily and Office Investment ProgramNational
- In the early 1990s, General Investment and Development (GID) had a successful real estate investment track record but not as a manager of discretionary institutional equity.
- The U.S. commercial real estate market was still in the midst of a severe multi-year downturn.
- First as Chief Financial Officer and then as Chief Investment Officer, Vincent Costantini led GID’s move into the institutional investment management business, raising more than $300 million in equity for the firm’s first two discretionary funds: Windsor Realty I and II.
- Vincent built and led the acquisition team (which included current Roseview partner Nigel Keenan), ramping up investment volume from $25 to $250 million per year over a five-year period.
- Vincent initiated and structured a joint venture with Spaulding & Slye (now Jones Lang LaSalle) –and with current Roseview partner Matt Dwyer – to cosponsor the second fund, moving GID into the office investment business at scale on a national basis for the first time.
- The two funds combined realized returns on equity in excess of 20% net to their limited partners, and served as the foundation of a successful long-term institutional investment platform whose clients include some of the country’s largest pension funds.