Winter Properties Secures $200 Million Investment from Almanac Realty Investors
New York – October 28, 2014 - Almanac Realty Investors, LLC ("Almanac"), together with The Winter Organization and 40 North Management, today announced the formation of Winter Properties, LLC ("Winter Properties"), a vertically integrated real estate investment management business.
Winter Properties, a 40 North company, led by Co-CEOs David S. Winter and David J. Millstone, will combine The Winter Organization's track record of developing and managing real estate assets in New York City with the capital markets expertise of 40 North.
With an opportunistic investment mandate for all points of the real estate cycle, Winter Properties has in excess of $1.5 billion of buying power across asset type and capital structure, serving as acquirer, developer, partner or lender. Winter Properties is poised to build upon The Winter Organization's century-long legacy of dedication to its partners, customers and the communities in which its properties are located.
"We are pleased to establish this relationship with Winter Properties," said Andrew Silberstein, Partner of Almanac, which manages a series of investment funds and is a leading provider of growth capital to public and private real estate companies. "Over the course of many generations and multiple market cycles, the company has achieved an excellent investment track record while maintaining the high level of integrity that Almanac values in its partners."
David S. Winter commented, "We are thrilled to partner with Almanac as we enter this next phase of growth, building upon our history while adapting for an evolving and dynamic marketplace. Almanac has a longstanding record of success supporting companies such as ours at a critical point in their life cycle. We are looking forward to beginning the next chapter with them."
David J. Millstone added, "We are very excited to expand the scope of our investment platform, and we believe that our long-standing relationships and flexible investment strategy will allow us to continue to identify attractive opportunities throughout the market cycle."
For further information about Almanac, Winter Properties or the transaction, please contact:
Andrew Silberstein, Partner, Almanac Realty Investors, LLC, (212) 403-3511
David S. Winter, Co-CEO, Winter Properties, LLC, (212) 821-1609
David J. Millstone, Co-CEO, Winter Properties, LLC, (212) 821-1613
About Almanac Realty Investors
Almanac Realty Investors is a leading provider of growth capital to public and private real estate companies. From the time of its founding in 1981, originally under the name Rothschild Realty, the group has raised $3.7 billion related to a wide array of real estate opportunities. Since 1996, Almanac Realty Investors' primary investment activity has consisted of making private placements into public and private real estate operating companies. To date, Almanac Realty Securities has committed/invested more than $2.7 billion into more than 30 companies. For more information, please visit our website at www.almanacrealty.com.
About Winter Properties
Winter Properties, a 40 North company, is a privately-held, vertically integrated real estate investment management business focused on value creation in the New York City Metropolitan Area. Winter Properties and its affiliates have developed in excess of $3.5 billion of assets, comprising over 2.5 million square feet of commercial property and 1,300 residential units. For more information, please visit our website at www.winter.com.
About 40 North
40 North Management is a privately-held, diversified investment firm founded by co-CEOs and co-CIOs David S. Winter and David J. Millstone. 40 North invests across the public and private markets, including real estate through Winter Properties. 40 North's investment efforts leverage the synergies among its businesses and benefit from the industrial operating experience of its founders. Across its companies, 40 North has a consistent approach to developing talent, building best-in-class investment practices, and fostering a culture of long-term value creation. For more information, please visit our website at www.40north.com.