First Capital Announces Strategic Partnership with Forum Partners, Plans to Liquidate REIT
First Capital Real Estate Investments LLC, an investment firm and sponsor of direct investment products, announced its strategic partnership with global real estate investment management firm Forum Partners.
According to the company, the partnership comprises a three-stage process where Forum will provide strategic capital and advice to First Capital to accelerate its growth and development.
In the first stage, First Capital has acquired the remaining interests in First Capital Real Estate Advisors held by Jacob Frydman.
The second step involves the design and implementation of an accelerated liquidity plan for First Capital Real Estate Trust Incorporated, the firm’s non-traded REIT.
Step three will involve the development by First Capital, with support from Forum Partners, of additional products and services to expand its offerings, customer base and assets under management.
“The partnership with Forum will give our investors the best of both worlds by combining the support and dependability of a multi-national institution with the individual investor focus of a retail firm,” said Suneet Singal, chief executive officer and chairman of First Capital.
Russell Platt, chief executive officer of Forum Partners commented, “This is Forum’s third investment in the U.S. in the past year as we continue to target opportunities where we can help create value. We are looking forward to working with Suneet and the First Capital team to help grow their platform to scale and are excited about the access First Capital will provide Forum to the retail distribution market.”
First Capital Real Estate Investments is a vertically integrated company working in the following capacities: finance structuring (debt and equity), real estate acquisition, land development, construction of both residential and commercial, retail operations and asset reposition to stabilization. The company’s investment strategy focuses on secondary and tertiary markets seeking opportunistic assets with value-add potential.
Forum Partners is a real estate investment and asset management firm that provides growth and/or restructuring capital, governance, and capital markets expertise to small and mid-sized sector focused real estate operating companies. Its global headquarters is located in London and its regional headquarters is in Hong Kong and Greenwich, Connecticut.