GTIS Partners closes residential real estate fund on $716 mln

GTIS Partners, a real estate private equity firm, has closed a $716 million residential real estate fund, which includes co-investment vehicles. GTIS Partners has now raised more than $3 billion since its launch in 2005.

Press Release

GTIS Partners L.P. (“GTIS”), a real estate private equity firm headquartered in New York City with offices in Los Angeles and São Paulo, today announced the closing of a $716 million residential real estate investment fund, the largest domestic diversified residential fund raised to date. The fund’s total is inclusive of co-investment vehicles.

“We believe in a diversified strategy to fully take advantage of the housing recovery across different markets and the various stages of the cycle”

The new fund brings to over $3 billion the committed equity raised by GTIS Partners since the firm’s 2005 launch.

“We re-entered the US residential marketplace as early as 2009, making us one of the first real estate investment companies to deploy substantial capital in anticipation of the return of the domestic housing market,” said Tom Shapiro, President & CIO of GTIS Partners. “We’ve continued to re-invest in the US, making strategic investments and seeking out new geographies where property valuations are expected to rise faster than the national average. We believe the US residential market provides some of the best risk-adjusted returns in the real estate asset class, which is evidenced by our new fund.”

Mr. Shapiro noted that the fund is approximately 60% invested, with a primary focus on markets such as New York, California, South Florida, Texas, Nevada, Georgia and Arizona.

“We believe in a diversified strategy to fully take advantage of the housing recovery across different markets and the various stages of the cycle,” noted Robert Vahradian, Senior Managing Director of GTIS. “The various types of investments made post-crisis include acquiring distressed residentially-zoned land and partially completed subdivisions, land development and homebuilding, acquiring foreclosed homes for rental, and investing in urban high rise development in gateway cities.”

About GTIS Partners

GTIS Partners is a global real estate investment firm headquartered in New York City with offices in Los Angeles and São Paulo. GTIS Partners has 62 employees and currently manages approximately $2.4 billion of committed equity. To date, the firm has committed capital to residential, retail, industrial, office, hotel, and mixed-use projects in the U.S. and Brazil. In the U.S., GTIS currently has 39 residential projects across 11 states. In Brazil, GTIS has approximately 15,000 residential units developed or planned, and six million square-feet of office, industrial and hotel projects underway. The firm’s principals have over 90 years of investment, management, and operations experience, spanning all major property types and geographies. For further information, please visit www.gtispartners.com.