real estate
Who We Are
Salem Partners' real estate banking division is comprised of professionals that hail from top Wall Street banks, global financial institutions, and nationally recognized real estate companies.
In aggregate, the leadership of the group has structured and executed more than $40 billion worth of transactions advising for both public companies and private real estate sponsors, developers, and operators. Salem Partners raises both equity and debt capital for a wide variety of real estate capital structures.
We strive to advocate for our clients by identifying optimal capital partners and providing solutions that add significant value to any transaction. As a group, we cover over 500 major institutional investors with varying real estate investment strategies, including endowments, pension funds, private equity funds, hedge funds, credit funds, insurance companies, sovereign wealth funds, and large family offices. We have formed strong relationships with many of these investors over the last several decades. We focus on capital raises of $20 million and up and have the ability to raise up to $1 billion or more for a single transaction.
The emphasis of the real estate practice falls into these categories:
Equity Capital
All forms of capital for the spectrum of real estate risk categories (opportunistic, ground-up development, distressed situations, value-add, and core-plus) typically in joint-venture format (single asset or a programmatic joint-venture that contemplates series of transactions)
Structured Equity/ Debt
All forms of structured equity, preferred equity, mezzanine and senior debt capital up and down the capital structure
Special Situations
Entity level capital, portfolio recapitalizations inclusive of estate or succession planning, capital for REITs or real estate operating companies, restructurings and real estate related mergers and acquisitions
Repeat Clients
"Jeff and Parker, in addition to possibly being the most likable guys in the capital markets space, are best in class capital raisers. They offer a truly bespoke process that has exceeded our expectations at every level. More impressive than their abilities is their integrity. We have worked with them on two deals and at all times we felt that they had our interests in mind."
- Lance Tate, Managing Member, Embarcadero Group, LLC
"Jeff and Parker, in addition to possibly being the most likable guys in the capital markets space, are best in class capital raisers. They offer a truly bespoke process that has exceeded our expectations at every level. More impressive than their abilities is their integrity. We have worked with them on two deals and at all times we felt that they had our interests in mind."
- Lance Tate, Managing Member, Embarcadero Group, LLC
Key Contacts
Jeff Barcy
Managing Director, Real Estate Investment Banking (415) 426 - 5650 jbarcy@salempartners.com |
Parker Bennett
Director, Real Estate Investment Banking (310) 597 - 4489 pbennett@salempartners.com |
Recent Transactions |
SALEM PARTNERS ANNOUNCES SUCCESSFUL TRANSACTION ON BEHALF OF JUPITER LAND HOLDINGS, LLC
LOS ANGELES, CA MAY 6, 2021 -- Salem Partners, LLC (“Salem”) is pleased to announce a successful transaction closing on May 6th, 2021, on behalf of its client, Jupiter Land Holdings LLC (“Jupiter”).
Jupiter hired Salem to identify and raise $30 million in joint-venture LP equity capital (the “Venture”). After closing, the Venture will horizontally develop the raw land into both residential / for-sale lots and commercial pads (industrial) on a 52-acre land parcel in Murrieta, CA. The land site is adjacent to the prestigious Loma Linda University Medical Center, which is one of the...(read more)
LOS ANGELES, CA MAY 6, 2021 -- Salem Partners, LLC (“Salem”) is pleased to announce a successful transaction closing on May 6th, 2021, on behalf of its client, Jupiter Land Holdings LLC (“Jupiter”).
Jupiter hired Salem to identify and raise $30 million in joint-venture LP equity capital (the “Venture”). After closing, the Venture will horizontally develop the raw land into both residential / for-sale lots and commercial pads (industrial) on a 52-acre land parcel in Murrieta, CA. The land site is adjacent to the prestigious Loma Linda University Medical Center, which is one of the...(read more)
SALEM PARTNERS ANNOUNCES SUCCESSFUL CLOSING ON BEHALF OF GEYSER HOLDINGS, LLC
LOS ANGELES, CA DECEMBER 30, 2020 -- Salem Partners, LLC (“Salem”) is pleased to announce a successful closing on behalf of its client, Geyser Holdings, LLC and its CEO, Russell Geyser (“Geyser”). Geyser hired Salem to identify and raise the required joint-venture equity capital with the objective to acquire an institutional class, creative office asset called Hollywood 959, located in the heart of the Hollywood Media District in Los Angeles, CA.
Hollywood 959 is a recently developed, 250,000 SF class A, creative office campus developed by JH Snyder Co. Located next door to Sunset Las Palmas Studios, Hollywood 959 is surrounded by entertainment industry destinations including Paramount Studios, MILK Studios, The LOT Studios, Television Center and Sunset Gower/Bronson Studios. Current tenants span the spectrum of critical service and creative players in the content eco-system (creative, production, post-production... (read more)
LOS ANGELES, CA DECEMBER 30, 2020 -- Salem Partners, LLC (“Salem”) is pleased to announce a successful closing on behalf of its client, Geyser Holdings, LLC and its CEO, Russell Geyser (“Geyser”). Geyser hired Salem to identify and raise the required joint-venture equity capital with the objective to acquire an institutional class, creative office asset called Hollywood 959, located in the heart of the Hollywood Media District in Los Angeles, CA.
Hollywood 959 is a recently developed, 250,000 SF class A, creative office campus developed by JH Snyder Co. Located next door to Sunset Las Palmas Studios, Hollywood 959 is surrounded by entertainment industry destinations including Paramount Studios, MILK Studios, The LOT Studios, Television Center and Sunset Gower/Bronson Studios. Current tenants span the spectrum of critical service and creative players in the content eco-system (creative, production, post-production... (read more)
SALEM PARTNERS ANNOUNCES SUCCESSFUL COMPLETION AND PLACEMENT OF $35 MILLION SENIOR LOAN
LOS ANGELES, CA AUGUST 26, 2019 -- Salem Partners, LLC (“Salem Partners”) is pleased to announce the successful completion of a $35 million senior loan for its client, Urban Mining Company (“UMC”) and its investors and affiliates. UMC presented Salem Partners with the challenge to structure a credit product that would provide enough proceeds to refinance its existing real estate debt, finish its mission critical manufacturing facility in the Austin / San Marcos region of Texas and capitalize all transaction and interest costs (a proceeds level which was unavailable by typical bank lenders) all within a tight time frame... (read more)
LOS ANGELES, CA AUGUST 26, 2019 -- Salem Partners, LLC (“Salem Partners”) is pleased to announce the successful completion of a $35 million senior loan for its client, Urban Mining Company (“UMC”) and its investors and affiliates. UMC presented Salem Partners with the challenge to structure a credit product that would provide enough proceeds to refinance its existing real estate debt, finish its mission critical manufacturing facility in the Austin / San Marcos region of Texas and capitalize all transaction and interest costs (a proceeds level which was unavailable by typical bank lenders) all within a tight time frame... (read more)
SALEM PARTNERS ANNOUNCES RECENT MULTIFAMILY COMMUNITY EQUITY FINANCING
LOS ANGELES, CA JULY 15, 2019 -- Salem Partners is pleased to announce yet another recent multifamily community equity financing as part of the success of an ongoing joint-venture in the real estate / multifamily sector for its client, Grand Peaks Properties, Inc. (“GPP”). The joint-venture is between GPP and a global family office with the objective to aggregate $1 billion of institutional quality multifamily assets (the “Program”).
The most recent equity financing closed on July 15th, 2019 where $23 million of equity capital was allocated to a ground-up construction project in Denver, CO. Prior to this, $25 million was allocated to value-add / renovation project in the Miami, FL market. Since the initial closing in 2017, the Program has acquired / developed six (6) properties in their key markets (listed below) totaling nearly $500 million in gross value across thousands of apartment units... (read more)
LOS ANGELES, CA JULY 15, 2019 -- Salem Partners is pleased to announce yet another recent multifamily community equity financing as part of the success of an ongoing joint-venture in the real estate / multifamily sector for its client, Grand Peaks Properties, Inc. (“GPP”). The joint-venture is between GPP and a global family office with the objective to aggregate $1 billion of institutional quality multifamily assets (the “Program”).
The most recent equity financing closed on July 15th, 2019 where $23 million of equity capital was allocated to a ground-up construction project in Denver, CO. Prior to this, $25 million was allocated to value-add / renovation project in the Miami, FL market. Since the initial closing in 2017, the Program has acquired / developed six (6) properties in their key markets (listed below) totaling nearly $500 million in gross value across thousands of apartment units... (read more)
SALEM PARTNERS ANNOUNCES SUCCESSFUL COMPLETION AND PLACEMENT OF $54 MILLION REVOLVING CREDIT FACILITY
LOS ANGELES, CA JUNE 13, 2018 -- Salem Partners, LLC is pleased to announce the successful completion and placement of a $54 million revolving credit facility for its client, Eisenhower Property Group (“EPG”). Salem Partners advised EPG on an exclusive basis and selected a credit hedge fund to provide the financing. First closing of the facility occurred on June 13th, 2018.
Jeff Barcy, Managing Director of Salem Partners’ real estate investment banking group, and Parker Bennett, Director of real estate investment banking, led negotiations and leveraged a highly competitive capital markets process to enable EPG to select the most suitable credit investor... (read more)
LOS ANGELES, CA JUNE 13, 2018 -- Salem Partners, LLC is pleased to announce the successful completion and placement of a $54 million revolving credit facility for its client, Eisenhower Property Group (“EPG”). Salem Partners advised EPG on an exclusive basis and selected a credit hedge fund to provide the financing. First closing of the facility occurred on June 13th, 2018.
Jeff Barcy, Managing Director of Salem Partners’ real estate investment banking group, and Parker Bennett, Director of real estate investment banking, led negotiations and leveraged a highly competitive capital markets process to enable EPG to select the most suitable credit investor... (read more)
SALEM PARTNERS ANNOUNCES SUCCESSFUL COMPLETION OF $35 MILLION SENIOR DEBT PLACEMENT
LOS ANGELES, CA April 19, 2018 -- Salem Partners, LLC is pleased to announce the successful completion of a $35 million senior debt placement for its client, a real estate partnership between, BTI Partners & Westport Capital Partners. This partnership acquired, developed and opened the “The Grove Resort & Spa” in Orlando, Florida, which is a multi-phased condo / hotel / resort near Walt Disney World, Orlando. The debt transaction closed in March of 2018, with Salem Partners acting as the financial advisor and investment bank to the partnership. Jeff Barcy, Managing Director of Salem Partners’ real estate investment banking group, and Parker Bennett, Director of real estate investment banking, led debt capital markets outreach... (read more)
LOS ANGELES, CA April 19, 2018 -- Salem Partners, LLC is pleased to announce the successful completion of a $35 million senior debt placement for its client, a real estate partnership between, BTI Partners & Westport Capital Partners. This partnership acquired, developed and opened the “The Grove Resort & Spa” in Orlando, Florida, which is a multi-phased condo / hotel / resort near Walt Disney World, Orlando. The debt transaction closed in March of 2018, with Salem Partners acting as the financial advisor and investment bank to the partnership. Jeff Barcy, Managing Director of Salem Partners’ real estate investment banking group, and Parker Bennett, Director of real estate investment banking, led debt capital markets outreach... (read more)
SALEM PARTNERS ANNOUNCES SUCCESSFUL COMPLETION OF $40 MILLION CONVERTIBLE PREFERRED EQUITY PLACEMENT
LOS ANGELES, CA January 23, 2018 -- Salem Partners, LLC is pleased to announce the successful completion of a $40 million convertible preferred equity placement for its client, Four Springs Capital Trust (“FSCT” or “Four Springs”) with Guggenheim Investments (“Guggenheim”). The transaction closed on January 23th, 2018, with Salem Partners acting as the financial advisor and investment bank to FSCT. Jeff Barcy, Managing Director of Salem Partners’ real estate investment banking group, and Parker Bennett, Director of real estate investment banking, led negotiations and leveraged a highly competitive capital markets process to enable FSCT to select the most suitable capital partner in Guggenheim... (read more)
LOS ANGELES, CA January 23, 2018 -- Salem Partners, LLC is pleased to announce the successful completion of a $40 million convertible preferred equity placement for its client, Four Springs Capital Trust (“FSCT” or “Four Springs”) with Guggenheim Investments (“Guggenheim”). The transaction closed on January 23th, 2018, with Salem Partners acting as the financial advisor and investment bank to FSCT. Jeff Barcy, Managing Director of Salem Partners’ real estate investment banking group, and Parker Bennett, Director of real estate investment banking, led negotiations and leveraged a highly competitive capital markets process to enable FSCT to select the most suitable capital partner in Guggenheim... (read more)
SALEM PARTNERS ANNOUNCES SUCCESSFUL COMPLETION OF JOINT-VENTURE IN REAL ESTATE/MULTIFAMILY SECTOR
LOS ANGELES, CA February 28, 2017 -- Salem Partners is pleased to announce the successful completion of a programmatic joint-venture in the real estate / multifamily sector for its client, Grand Peaks Properties, Inc. (“GPP”). The joint-venture is between GPP and a global family office with the objective to aggregate $1 billion of multifamily assets. GPP is a vertically-integrated, national operator based in Denver, CO that has a 70 year family history in the multifamily sector. In terms of its business lines, GPP manages, acquires, renovates and develops high quality, suburban multifamily properties... (read more)
LOS ANGELES, CA February 28, 2017 -- Salem Partners is pleased to announce the successful completion of a programmatic joint-venture in the real estate / multifamily sector for its client, Grand Peaks Properties, Inc. (“GPP”). The joint-venture is between GPP and a global family office with the objective to aggregate $1 billion of multifamily assets. GPP is a vertically-integrated, national operator based in Denver, CO that has a 70 year family history in the multifamily sector. In terms of its business lines, GPP manages, acquires, renovates and develops high quality, suburban multifamily properties... (read more)
SALEM PARTNERS SUCCESSFULLY CLOSES HEALTHCARE REAL ESTATE JOINT-VENTURE
LOS ANGELES, CA July 27, 2016 -- Salem Partners is pleased to announce the successful completion of a large programmatic joint-venture in the real estate / medical office sector for its client, Everest Medical Core Properties (“Everest MCP”). The joint-venture is between Everest MCP and a major, U.S. based real estate private equity firm. Everest MCP is a national real estate operator / sponsor with significant experience investing in healthcare real estate. Their overall strategy is to prudently acquire high quality medical office properties nationwide. They are led by David Lynn, who held senior positions at Cole Real Estate Investments Inc., ING Clarion and AIG Global Real Estate. The joint-venture closed on June 22, 2016, with Salem Partners serving as the financial advisor to Everest MCP. Jeff Barcy, Managing Director of Salem Partners’ real estate investment banking group... (read more)
LOS ANGELES, CA July 27, 2016 -- Salem Partners is pleased to announce the successful completion of a large programmatic joint-venture in the real estate / medical office sector for its client, Everest Medical Core Properties (“Everest MCP”). The joint-venture is between Everest MCP and a major, U.S. based real estate private equity firm. Everest MCP is a national real estate operator / sponsor with significant experience investing in healthcare real estate. Their overall strategy is to prudently acquire high quality medical office properties nationwide. They are led by David Lynn, who held senior positions at Cole Real Estate Investments Inc., ING Clarion and AIG Global Real Estate. The joint-venture closed on June 22, 2016, with Salem Partners serving as the financial advisor to Everest MCP. Jeff Barcy, Managing Director of Salem Partners’ real estate investment banking group... (read more)
SALEM PARTNERS RAISES EQUITY AND DEBT FINANCING FOR $73.5 MILLION ACQUISITION OF TWO SITES IN HONOLULU, HI
LOS ANGELES, CA, March 7, 2016 -- Salem Partners is pleased to announce the raising of equity and debt financing for the $73.5 million acquisition of two adjacent sites in Honolulu, Hawaii located at 1488 and 1500 Kapiolani Blvd. Mana`olana Partners II partnered with an institutional investment fund to acquire the property from The Walgreens Boots Alliance (NASDAQ: WBA) on November 30th, 2015 and pursue entitlements for a high-rise, mixed-use residential development. Jeff Barcy, Managing Director of Salem Partners’ Real Estate Investment Banking practice, served as the exclusive financial advisor to Mana`olana Partners II, which is led by industry veterans Jim Ratkovich and Bill Witte. Salem successfully structured joint venture equity and debt financing that provided Mana`olana Partners II with... (read more)
LOS ANGELES, CA, March 7, 2016 -- Salem Partners is pleased to announce the raising of equity and debt financing for the $73.5 million acquisition of two adjacent sites in Honolulu, Hawaii located at 1488 and 1500 Kapiolani Blvd. Mana`olana Partners II partnered with an institutional investment fund to acquire the property from The Walgreens Boots Alliance (NASDAQ: WBA) on November 30th, 2015 and pursue entitlements for a high-rise, mixed-use residential development. Jeff Barcy, Managing Director of Salem Partners’ Real Estate Investment Banking practice, served as the exclusive financial advisor to Mana`olana Partners II, which is led by industry veterans Jim Ratkovich and Bill Witte. Salem successfully structured joint venture equity and debt financing that provided Mana`olana Partners II with... (read more)
SALEM PARTNERS ADVISES PAVE (PROPARK & PARKIT ENTERPRISES) IN $500 MILLION PARKING ACQUISITIONS JOINT-VENTURE
LOS ANGELES, CA, April 22, 2015 -- Salem Partners is pleased to announce the completion of a $500 million programmatic joint-venture in the real estate / parking sector for its client, Parking Acquisition Venture (PAVe). PAVe is a partnership between Propark America and Parkit and is a team of executives lifted from one of the largest national parking management companies with over 2,000 employees in approximately 500 locations across 13 states (more than 100,000 parking spaces managed). The transaction closed on April 22nd, 2015, and Jeff Barcy, Managing Director of Salem Partners’ Real Estate Investment Banking practice, served as the exclusive financial advisor to PAVe. Mr. Barcy and the Salem team led negotiations and leveraged a competitive capital markets process with multiple offers to enable PAVe to select the most suitable equity partner. Salem successfully structured joint venture financing for PAVe that provides significant equity to acquire parking assets totaling $500 million over the next three years. As part of this transaction, PAVe successfully... (read more)
LOS ANGELES, CA, April 22, 2015 -- Salem Partners is pleased to announce the completion of a $500 million programmatic joint-venture in the real estate / parking sector for its client, Parking Acquisition Venture (PAVe). PAVe is a partnership between Propark America and Parkit and is a team of executives lifted from one of the largest national parking management companies with over 2,000 employees in approximately 500 locations across 13 states (more than 100,000 parking spaces managed). The transaction closed on April 22nd, 2015, and Jeff Barcy, Managing Director of Salem Partners’ Real Estate Investment Banking practice, served as the exclusive financial advisor to PAVe. Mr. Barcy and the Salem team led negotiations and leveraged a competitive capital markets process with multiple offers to enable PAVe to select the most suitable equity partner. Salem successfully structured joint venture financing for PAVe that provides significant equity to acquire parking assets totaling $500 million over the next three years. As part of this transaction, PAVe successfully... (read more)
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