Venturi Capital Advisors Engaged To Raise First Fund For Newpark Capital Partners – Philadelphia-Based Operator Focused On Distressed Situations, Off-Market Transactions
11 March 2008 (New York, NY) –Venturi Capital Advisors has been exclusively engaged by a seasoned Philadelphia-based operator to raise its first institutional fund. The assignment was announced by Paul N. Arena, President of Venturi Capital Advisors.
The vehicle, to be known as Newpark Capital Partners 1, L.P., will take a value-added to opportunistic approach, consistent with the investment philosophy of its principals.
“The Newpark team represents many decades of combined real estate development and operating know-how,” said Arena. “For the last several years, this team has emerged as one of the most active in the metro Philadelphia area and suburban Lehigh Valley region, having completed a litany of projects ranging from ground up community retail and power centers, to bank pads to condo conversions in downtown Philadelphia.” This team has their fingers on the pulse of dealmaking in the region,” continued Arena, “and as a result, they have been in a position to pick up exceptionally well-located land and assets at very favorable valuations.”
Newpark also brings a demonstrated ability to negotiate the zoning and entitlement process, including their experience with brownfield sites, a facet of the business that many firms avoid, but that brings with it exceptional returns. “This is where this team really shines,” continued Arena. “In fact,” Arena continued, “Newpark has developed difficult sites that have on more than one occasion become State of Pennsylvania DEP showcase developments, showing that Newpark can get this done right, done quickly, and profitably, for big returns” Arena added, “and we all know that the big returns to real estate right now are in development, not in buying fully-priced, stabilized assets.”
Given the improving demographics and rising incomes of the Greater Philadelphia area and surrounding Lehigh Valley, the areas where this team does its deals, Newpark is focused on medical office, better quality retail, hospitality and more selectively, multi-family residential. This breadth and depth gives Newpark greater development flexibility and allows for diversification of their growing portfolio.
It is expected that the fundraising effort will attract one or two private equity investors who will invest from $25 to $50 million each, or land a larger investor - - perhaps a capital allocator - - for the entire raise, targeted at around $100 million.
On behalf of the same client, Venturi is also engaged to place approximately $20 million of equity and debt financing for a fully-permitted, ground-up 125-key Hyatt Place Hotel in downtown Bethlehem, Pennsylvania. This facility will take advantage of the shortage of hotel rooms in the downtown area, where Bethlehem, long having shed its image as a steel town, has seen a growing corporate presence in and around the City, and increased activity from local universities, namely Lehigh University and Moravian College, which together enroll more than 10,000 students;
Venturi Capital Advisors, Inc. is an industry leading global real estate investment banking firm transacting in the private equity real estate space. Venturi orchestrates private placements, consisting of both one-off, single-asset and portfolio financings, as well as entity-level placements for seasoned managers. The firm serves a loyal roster of prominent real estate operators, institutional managers and investors seeking real estate equity and debt advisory services delivered creatively, efficiently, and with professionalism. Venturi develops the optimal structured finance solution for its client’s ever-changing real estate capital needs. To learn more about Venturi Capital Advisors, please visit www.venturicapitaladvisors.com
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Contact
Paul N. Arena
President
Chrysler Building
132 East 43rd Street, Suite 311
New York, NY 10017
Tel 347.599.0187
Cell 917.306.2917
GSM Cell 917.496.7346
E-Mail parena@venturicapitaladvisors.com
Web Site venturicapitaladvisors.com