Clarion Partners, a real estate investment management firm, has named Donald Sheets as a managing director. The appointment was made as a result of Clarion’s acquisition of AlumCreek Holdings LLC, a private equity firm focused on special situation commercial real estate investments that was formed by Sheets.
NEW YORK, January 9, 2018 – Clarion Partners LLC, a leading diversified real estate investment management firm, is pleased to announce a strategic expansion of its real estate credit business with the addition of Donald Sheets as Managing Director through the acquisition of AlumCreek Holdings.
AlumCreek Holdings, LLC, formed by Sheets in 2014, has managed a portfolio of special-situation investments on behalf of a prominent endowment fund, valued at nearly $200 million as of December, 2017. The portfolio, which will continue to be managed by Sheets at Clarion Partners, is a compilation of performing, sub-performing and non-performing commercial real estate mortgage debt acquired from banks, insurance companies, government agencies and special servicers. Clarion Partners acquired AlumCreek and its entire team. Sheets will report directly to Clarion CEO David Gilbert.
“We see the addition of Donald and his team as an important expansion of Clarion’s existing debt business, currently focusing on mezzanine lending,” said David Gilbert. “Similar to our existing mezz investment business, we anticipate that our expanded credit strategy will generate current income and compelling total return, providing risk-adjusted diversification opportunities for our client portfolios.”
Sheets brings nearly 20 years of leadership, property acquisition, asset management, capital formation, and restructuring experience to Clarion Partners. Prior to forming AlumCreek, Sheets served as Senior Principal with Square Mile Capital Management where he co-led the transaction team and identified, structured, and negotiated non-traditional commercial real estate investment opportunities. Prior to his time at Square Mile, he initiated a special-situation commercial real estate investment platform and built a team at Davidson Kempner Capital Management. He also spent several years at each of The Carlyle Group, EastBanc and Starwood Urban Investments.
Since 2009, Sheets has taught graduate-level courses in distressed real estate investing, serving as an adjunct assistant professor at both Columbia University’s Graduate School of Architecture, Planning and Preservation and at NYU’s Schack Institute of Real Estate.
Mr. Sheets holds a BBA from The George Washington University and an MBA from Harvard Business School.
About Clarion Partners, LLC
Clarion Partners, an SEC registered investment adviser with FCA-authorized and FINRA member affiliates, has been a leading U.S. real estate investment manager for more than 35 years. Headquartered in New York, the firm has offices in Atlanta, Boston, Dallas, London, Los Angeles, São Paulo, Seattle and Washington, DC. With more than $43 billion in total assets under management, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum to its 300 domestic and international institutional investors. More information about the firm is available at www.clarionpartners.com.