Private equity still likes real estate. Oaktree Capital Management will establish a joint venture with Everest Realty Management to form a Tenants In Common (TIC) partnership. It will provide a varying range of short- and long-term solutions for clients with capital needs.
Everest Significantly Expands Ability to Assi
st TIC Owners Through a Joint Venture With Oaktree Capital Management
PASADENA, CA, Oct 13, 2011 — Everest Realty Management announced today that it has significantly expanded its ability to address the needs of TICs by forming a joint venture with an investment fund managed by Oaktree Capital Management, L.P., a leading global investment management firm. Through that joint venture, Everest will provide equity capital to enable TICs to solve short-term capital needs such as capital improvements or temporary negative cash flow, as well as longer-term needs such as refinancing and restructuring.
About Everest Realty Management
Everest Realty Management, an affiliate of Everest Properties, provides a full range of solutions to Tenants in Common (TICs) including co-investing with TICs, purchasing TIC interests and providing asset management services. Everest specializes in the acquisition, recapitalization and asset management of real estate, with significant experience investing in and managing REIT, TIC, LLC and LP real estate investment entities. To learn more about Everest visit their website at www.everestworld.com .