| |
 |
 |
|
|
 |
Industry Update: New Firm Joins SLB Investor Circle
July 18, 2006, By Michelle Napoli
Santa Monica, CA—The latest equity player to enter the competitive sale-leaseback market--locally based Convergence Capital Partners LLC--says it will target “middle-market companies seeking to realize liquidity and value from corporate real estate” and will look at a broader array of tenants than the traditional investment grade realm.
“While most capital providers focus on investment grade companies, we will also work with companies experiencing either temporary financial difficulties or rapid growth,” Alexander B. Kasdan, founder and president of the new company, Convergence Capital Partners, says in an announcement.
“Our unique blend of investment banking, corporate finance and real estate experience allows Convergence to understand the financial issues often faced by middle-market companies,” adds principal Gregory Vallario. He says the firm plans to be the "financier of choice" for small, family-owned companies, mid-sized corporations and private equity firms nationwide.
Convergence Capital comes to the sale-leaseback business powered by discretionary capital from RTI Properties Inc., a value-added real estate investment firm based in Los Angeles County, and Wilshire Capital Partners LLC, a Santa Monica-based commercial and residential property investment firm. RTI’s founder and president Robert Abbasi and Wilshire Capital’s president and CEO Jon Dishell co-chair Convergence Capital and serve on its advisory board. David Blitz, founder and president of Los Angeles-based Mount Nebo Capital Inc., a real estate advisory and mortgage brokerage firm, is a senior advisor and board member.
With more than 15 years of experience in investment banking, corporate law and corporate strategy, Kasdan was the founder and president of his own middle market investment bank, Alexander B. Kasdan Co., and has held positions at Barrington Associates, the Peter J. Solomon Co., Credit Suisse First Boston and Merrill Lynch. Vallario has a background in real estate transaction origination. Before joining with Kasdan was responsible for transaction origination, day-to-day operations, acquisitions analysis and portfolio management for the principal commercial sale-leaseback investment entity of Southern California real estate investor Barry Beitler.
|
|
|
 |
|
