Adds Greg Morillo and Adam Feldman, Co-Founders of Lionbridge Asset Management, as Argosy-Lionbridge CIO and COO, Respectively
WAYNE, Pa., Feb. 9, 2023 /PRNewswire/ -- Argosy Real Estate Partners ("AREP"), a real estate investment firm focused on private real estate funds with $2.5 billion in assets under management ("AUM"), today announced the formation of Argosy-Lionbridge Management, LLC ("ALM"), an asset management platform focused on publicly traded real estate securities.
As part of the launch of ALM, Greg Morillo and Adam Feldman, Co-Founders of ALM predecessor firm Lionbridge Asset Management, LLC., have joined AREP and will serve as ALM's Chief Investment Officer and Chief Operating Officer, respectively. Previously, Morillo and Feldman held positions focused on researching, analyzing and investing in public and private real estate on behalf of leading investment firms, including Kingstown Capital, The Talisman Group, Wesley Capital and Morgan Stanley. AREP Co-Founders and Co-Chief Executive Officers David Butler and Andy Stewart will serve as Co-Chief Executive Officers of ALM and members of the ALM Investment Committee alongside Greg and Adam.
ALM extends AREP's opportunistic and value-add oriented private real estate investment strategy to the public real estate securities market and will seek to identify public real estate securities across the capital structure trading at a discount to their intrinsic or private market value. The strategy will look for catalysts, often including constructive engagement with management teams and boards of directors, which could accelerate market price more accurately reflecting intrinsic or private market value. ALM will have access to AREP's extensive knowledge of private real estate markets, including data collected from AREP's investment team, operating partner network, industry contacts and other sources. ALM will be based in New York City, representing AREP's fourth location alongside existing offices in Philadelphia, Denver and San Francisco.
"Argosy Real Estate Partners is excited to welcome Greg and Adam to the Argosy family and to support Argosy-Lionbridge in building a successful public real estate securities platform," stated Mr. Butler. "We believe there are many synergies between our existing private fund strategies and ALM's public securities strategy."
"We believe compelling investment opportunities exist in inefficient and overlooked areas of the public real estate securities markets," added Mr. Stewart. "The ability to take advantage of public market liquidity and recurring pricing inefficiency to opportunistically shift investment strategy and target public securities at various points in market cycles is very attractive to us."
"We are excited to have the opportunity to build a best-in-class public securities platform alongside the highly experienced leadership team at Argosy Real Estate Partners," Mr. Morillo said. "This partnership extends our capabilities as we leverage Argosy's extensive operations and investing experience across a diverse set of asset classes to inform our investment activity. We remain focused on building positions in excellent real estate businesses at attractive prices and to selectively forging constructive relationships with management teams to drive significant value for shareholders. We have set ambitious goals and look forward to continuing our growth and evolution working with the Argosy team."
Since 2010, Butler and Stewart, Co-Chief Executive Officers of AREP, have grown AREP's AUM to $2.5 billion1, including ten discretionary private real estate funds. AREP specializes in opportunistic, value-add, core-plus and Opportunity Zone strategies in the middle market. AREP manages capital on behalf of institutional investors, family offices and high net worth individuals.
About Argosy Real Estate Partners AREP specializes in opportunistic, value-add, core-plus and Opportunity Zone real estate investments in the middle market. AREP invests in joint ventures with operating partners who possess substantial market knowledge and a demonstrated track record. AREP is headquartered in Wayne (Philadelphia area), PA with additional offices in Denver, CO and San Francisco, CA. AREP currently has $2.5 bill1) of AUM, and has made over 100 real estate investments. It currently manages ten discretionary private real estate funds. For more information, visit www.argosyrep.com.
About Argosy-Lionbridge Management ALM is an asset management firm focused on fundamental and special situation investments in publicly traded real estate securities that serves as an extension of the private real estate investment strategies of Argosy Real Estate Partners. ALM seeks to capitalize upon the recurring pricing inefficiency and liquidity provided by the public market to opportunistically invest across real estate asset classes, companies and positions in the capital stack of companies. For more information, visit https://argosylbm.com/.
(1) AUM includes $2.3 billion of gross assets where AREP holds controlling interests and $222.9 million of unfunded equity commitments as of Q3 2022
SOURCE Argosy Real Estate Partners