Ridgeback Partners is a real estate investment and development firm formed in 2007 to take advantage of compelling opportunities in the distressed residential and land sectors in the U.S. market. The firm’s Principals have previously managed several billion dollars of investor capital, 125 residential investments, and a company of 75 people. The management team has achieved a strong track record for more than 100 closed investments over the last decade. Ridgeback’s management team previously worked together at Hearthstone, the largest institutional investor dedicated to residential real estate.
Investment Objectives: Ridgeback seeks investments that have a combination of compelling economics, distinct competitive advantages at the property level and the opportunity to add value by leveraging our expertise. Typical transaction size is $10 million – $50 million, with the ability to purchase assets up to $300 million.
Typical / Targeted Investments:
The Ridgeback Partners Advantage: Ridgeback leverages deep contacts in the real estate, private equity, and banking communities (built up over decades of doing business and forming partnerships) to source opportunities and build unique insights into off-market deals. Well capitalized institutional investors, private equity firms and hedge funds that lack the residential expertise and/or manpower to adequately evaluate opportunities seek to partner with Ridgeback. The Ridgeback team applies institutional-quality controls to its underwriting process, always focusing on potential downside risks and using conservative projections to vet investment opportunities. Following the closing of an investment, Ridgeback utilizes a proven, meticulous asset management system to maximize investment potential. To ensure alignment of interests, all officers of the firm co-invest in each deal.
- Finished, rough graded and paper lots
- Partially complete or fractured condominium developments
- Bank debt on distressed residential projects
- Bankrupt, undercapitalized and distressed master plans
- Bankruptcies of homebuilders
- FDIC and bank REO and portfolio note sales
- Recapitalizations, joint ventures and participating loans within the residential sector
- 100+ unit apartment properties with an add-value component