SCP focuses on value-add/opportunistic acquisitions with the following characteristics:
- Pricing investments to both acquire and exit below replacement costs.
- Strong recent rent growth and absorption trends.
- Unique distress situations atypical of the asset’s competitive set.
- A current focus on secondary markets, due to attractive fundamentals and the overabundance of competition in the gateway markets.
SCP has full-service development capabilities and decades of experience in multi-tenant, build-to-suit and project master-planning execution.
- Product expertise in both office and industrial and mixed used asset classes.
- A current focus on mid-size and bulk industrial product, due to improving fundamentals and supply/demand characteristics in SCP target markets.
- Additionally, the firm has a strong pipeline and expertise in mixed-use, infill development at various sites across the country.
SCP is the manager of SPVEF, a $250 million institutional equity fund raised in 2005 to acquire $1 billion in assets.
- Current assets under management of ~$100M, across various property types (office, industrial, land, multifamily and hotels) in “tri-coastal” markets.
- Individual joint ventures with experienced local real estate operators were formed and SCP acts as general manager for the Fund.
The Fund is fully invested, and SCP continues to take an active role in the asset management and disposition of each investment.