About Truefield Realty Advisors
Truefield Realty Advisors LLC (a joint venture of Concordia Realty Corporation) has been formed to resolve the large accumulation of distressed real estate currently on the books of financial institutions.
Truefield Realty Advisors is a real estate investment and operating firm that specializes in the opportunistic acquisition and repositioning of distressed single family homes, fractured condominium developments, value added apartment projects, high current yield multifamily acquisition opportunities, non-performing loans and mezzanine loan work-outs. Clients of Truefield Realty Advisors are a mix of institutional investors, high yield opportunity funds, private investors and financial institutions looking to dispose of problem asset in the most efficient way for the highest yield.
Truefield Realty Advisors strategy is to maximize returns through economy of scale and utilize new technology to maximize operational efficiencies. There are currently large distressed opportunity funds with capital and many smaller operators with limited capital but few, if any, combine the know how through years of operating experience with financial capabilities. Truefield’s target market is the Chicago Statistical Metropolitan Area.
Our target investments are distressed single family homes, residential portfolios and unfinished or fractured condominium/residential development and conversion projects in the Chicago metropolitan area that are in default or foreclosure. Our strategy is to identify well-located projects (fee simple, notes or joint venture) that have temporary or correctable challenges that result from poor sales strategy, pricing resistance, capital structure, tenancy, physical attributes, market position or management deficiency and then acquire them at a significant discount. We believe the current market correction from the over building of the last five years will provide an unprecedented opportunity for outsized returns to well-capitalized investors.
The principals of Truefield Realty Advisors have extensive entrepreneurial and institutional experience in real estate, leasing, finance, redevelopment and property management, and have closed transactions in excess of $400 million.
Truefield Realty Advisors has existing relationships with lenders, attorneys and receivers that have projects they need to work-out or sell. Equally important, our contacts with mezzanine lenders and relationships with Chicago’s premier foreclosure attorneys create the opportunity to see the best deals before they are shopped to the wider real estate market.
Truefield Realty Advisors concentrates on projects in the $1.5 million to $30 million range, which is the predominant range of projects currently going into default among community banks and mezzanine lenders. In addition, there is less competition for these projects since they are too small for the large vulture funds to efficiently allocate capital on and too large for most local operators to have adequate experience with the full range skills a work-out requires. A further differentiating characteristic, Truefield Realty Advisors brings extensive retail experience to mixed-use projects that are now becoming available in many developments in the Chicago metropolitan area.
Truefield Realty Advisors believes one of the greatest wealth creating opportunities in a generation is now upon us.