WASHINGTON, Aug. 9, 2016 /PRNewswire/ -- LP Equity, LLC
("LPE") is pleased to announce its recent acquisition of minority
interests in two commercial properties, an investment which
embodies LPE's increasing engagement with the commercial real
estate sector. The properties, located in New Jersey and Texas, range in function from medical office
space to commercial retail, well outside the typical purview of
LPE's acquisition platform. Over the past 11 years LPE has focused
exclusively on acquiring limited partner interests in multi-family
housing assets, purchasing interests over 300 different
partnerships in 28 states in total; however, with these second
quarter acquisitions LPE has initiated a new line of investment
meant to engage a heretofore underrepresented group of limited
partners, a move LPE's Senior VP Jay Landen sees as a natural
extension of LPE's overall directive.
"Our new platform will act to fill a void in this industry which
is very esoteric by nature. Ultimately, it will allow us to create
immediate value for a new swath of limited partners throughout the
country, many of whom have been in partnerships for over 30 years
due to the lack of any viable exit strategy. We are continually
working to expand the scope of this secondary market where
incremental partnership interest can be sold quickly and
painlessly."
In order to maximize their engagement with the commercial
market, LPE has recruited Eric
Goldfarb, previously of Goldfarb Properties in New York, to head the fully funded platform.
Senior VP Adam McNutt sees this collaboration as
"When we started thinking about this new line of investment we
knew we needed to bring in someone with an extensive knowledge of
the industry. Eric's 25+ years of commercial real estate experience
will be key in allowing us to quickly and accurately evaluate the
liquidation options of the hundreds of partners we hope to work
with over the next several years. It's critical that we get our
investors comfortable with the assets we acquire, and industry
knowledge becomes key at that point; you simply can't survive in
the minority acquisition market unless you can confidently
understand the structure of each partnership and the value of the
underlying assets."
Eric Goldfarb has said the
following regarding this new collaboration with LPE:
"I am honored and excited to be a part of LP Equity for three
primary reasons: first, LP Equity has a reputation for honor and
integrity that is without repute; second, it is always satisfying
and rewarding to be able to provide a service which offers real
benefits to so many people; and third, the company has put
everything in place, financially, to ensure a complete
follow-through with this new venture. I believe success is best
achieved by aligning yourself with the right people and I think we
have done that here."
Although LPE has continually expanded the focus of its
investment, the effort to bring opportunities to a diverse array of
limited partners has remained constant, an effort that is
facilitated by LPE's ever-growing and increasingly diverse
portfolio. Summing it all up, Adam
McNutt had this to say:
"You have to believe in your knowledge of a particular market,
accept the risks, and then make meaningful proposals; we're not in
the business of making frivolous offers, we're in the business of
acquiring interests."
About LP Equity
LP Equity, LLC was formed in 2005 with the aim of creating a
secondary market for otherwise illiquid limited partner interests.
In the past 11 years LPE has completed transactions involving more
than $50M in over 300 different
partnerships, helping thousands of limited partners to simplify
their finances and escape ongoing tax liabilities. With over 25
years of industry experience, the principles at LPE have become
experts in the complex tax, government regulatory, and partnership
issues that traditionally govern these transactions. With our
extensive industry knowledge and long-term investment horizon, and
with two modern offices run out of Washington, DC, and Wilmington, NC, respectively, we have never
been in a better position to help LPs regain agency in their
partnerships and realize immediate value on their decades-old
investments.
CONTACT
Jay Landen [Senior Vice
President]: jay@lpequity.com
Adam McNutt [Senior Vice President]:
adam@lpequity.com
LP Equity
1121 Military Cutoff Rd, Suite C
Wilmington, NC
28405
http://www.lpequity.com/
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SOURCE LP Equity, LLC