Industrial and Office Investment ProgramNational

The Challenge:

  • A startup investment company had an investment strategy centered on the acquisition of single-tenant net-leased industrial and office properties.
  • The company had a staff of two, no capital, no track record as managers of institutional equity and no track record of completing the kinds of acquisitions the business plan called for.

The Result:

  • Roseview made an investment in the company and assumed the lead role in raising capital, in three successive rounds:
    • Several million dollars in venture capital to fund company operations and institutional co-investment requirements
    • $50 million in real estate investment equity in a programmatic joint venture with an opportunity fund (“Fund I”)
    • $150 million in fully discretionary equity directly from pension fund investors (“Fund II”); the initial closing of Fund II took place less than two years after Roseview’s first investment in the company
  • Vincent Costantini played an active role on the investment committee; he reviewed and approved and/or rejected all property investments, and was involved in all major personnel decisions during the first few years of the company’s existence.
  • Within less than three years from a standing start, the company had made more than $500 million in acquisitions (total cost).
  • Fund I realized returns on equity in excess of 20% net to its limited partners.
  • Fund II has realized double-digit cash-on-cash returns on equity even before making any dispositions and is outperforming the vast majority of institutional investment funds from its vintage year (2005).

At A Glance

$150 million

in discretionary institutional equity raised and invested

> $500 million

total capital invested in less than three years

Investor Log In

You will be redirected momentarily to our document management system. If you are not redirected, please click here.