TRIPOINTE Property Group (TPG), headquartered in Cleveland, Ohio, is actively engaged in all facets of commercial real estate investment, development and management with a primary focus on multi-family housing. Through affiliated entities, TPG managing members manage and are principals in approximately 2,500 apartments and in excess of 1,000,000 square feet of commercial space and 200 nursing home beds cumulatively approaching $175 million in value.
Formed in 2011 to capitalize on attractive current market trends in the multi-family sector, TPG intends to acquire and assemble a portfolio of stabilized and value-add multi-family properties in the southeast region of the United States.
TPG managing members, Steven Greenberg, Richard L. Soclof and Steven D. Soclof, have approximately 25 years each of real estate experience and have collectively transacted in excess of $400 million dollars of real estate transactions including acquisitions, developments and dispositions.
Their real estate ventures have utilized an array of capital formation structures including significant use of strategic partnerships, highlighted by the TPG Advisors Fund and the TRIMAX Real Estate Funds, in acquiring a broad array of commercial real estate including apartments, shopping centers, warehouses, office buildings and land.
TRIPOINTE Property Group is a professional, hands-on management team that is directly involved in every facet of investment including deal sourcing, transaction structuring, capital formation and asset and property management. TPG principals invest directly in each deal and are backed by a strong and deep network of investors and lenders.
Multi-family investments are focused on value-add and stabilized properties with a focus on creating long-term investment appreciation while maximizing current cash flow for investors. It is anticipated that TPG will acquire approximately $150 million of existing income producing apartment communities.
TPG will be targeting total investment returns that will exceed 15% over the life of the respective investments with current returns consisting of 5-9% of invested capital and generally deploys a conservative average debt level of approximately 70-80% of value.
Geographically, TPG is focused on growing its investment and management portfolio in three primary markets: Ohio, Florida and throughout the Southeastern U.S.