Capstone Realty Group USA is a commercial real estate investment and development company with a focused strategy of acquiring value-add and opportunistic Multifamily properties, Self-Storage properties, Office buildings, Retail shopping centers, select service Hotels, and Non-Performing Loans from financial institutions and other distressed sellers.
For over 12 years Capstone has delivered superior returns optimizing real estate investments by redeveloping, rebranding and returning capital on its investments. Our expertise includes acquisitions, valuations, debt financing, private equity syndication, loan restructuring, real estate management and design & development.
Capstone provides in-house Asset Management, Construction Management, Property Management, and Capital Advisory services.
From 2009 to 2019, Capstone successfully acquired 21 deals valued at over $500M including: two non-performing loan portfolios, seven discounted notes and 12 troubled assets from banks, financial institutions and corporate sellers. To date, these deals achieved the following results:
- A realized and forecast deal level IRR for the Portfolio is approximately 24.8%.
- A realized and forecast deal level Equity Multiple for the portfolio is approximately 2.15X.
- The highest return was 45.5%, realized on a June 2009 office building acquisition.
- Over $145M of invested equity has been repatriated/distributed across the entire portfolio.
Capstone continued to maintain a balanced approach to its portfolio which includes exiting upon value potential achievement or refinancing and holding properties that have durable cash flow.
ABOUT Mr. Gillman
Mr. Gillman is a Managing Partner of Capstone Realty Group USA. Mr. Gillman has over 32 years of experience in commercial real estate, in areas including equity investments, finance, credit, workouts, valuations, distressed resolutions and more. Mr. Gillman has been involved in excess of $20 billion in financing, in excess of $2 billion of distressed loans traded and $600 million of commercial real estate acquired, repositioned and sold.
Prior to the formation of Capstone Realty Group USA, Mr. Gillman was a Managing Director at Tishman Speyer, where he was responsible for overseeing Tishman’s real estate equity investments in Brazil.
Prior to Tishman, he was a Managing Director at Goldman Sachs & Co (“GS”). While at GS, Mr. Gillman worked in the Investment Banking Division, Fixed Income, Commodities and Currencies and the Special Situations Group. Mr. Gillman’s experience at GS was broad, covering CMBS, where he was the Chief Credit Officer for the CRE Conduit business, trading/hedging the loans originated, acquiring large distressed debt portfolios in 3 countries, starting and managing various distressed debt workout businesses, along with other types of investments.
Prior to joining Goldman Sachs, Mr. Gillman was a Senior Vice President and Department Manager at Sumitomo Trust & Banking. While at Sumitomo, Mr. Gillman was responsible for all aspects of the Banks real estate mortgage portfolio, including underwriting, credit, loan workouts and more.
ABOUT Mr. Friedberg
Mr. Friedberg, prior to founding Capstone Realty Group was a Managing Director at BlackRock Financial Management, Inc. where he was responsible for all of BlackRock’s debt financings activities, comprising over $45 billion of assets in North America, Europe, and Asia. Additionally, Mr. Friedberg was co-head of real estate mergers and acquisitions and was a member of the Real Estate groups Investment Committee. Mr. Friedberg was also Controller, Vice-President and Treasurer of Anthracite (NYSE:AHR) and was Treasurer of Carbon Capital I and II, which are real estate debt hedge funds managed by BlackRock.
Prior to joining BlackRock in 1999, Mr. Friedberg was Treasurer of Vornado Realty Trust. During the savings and loan crisis in the late 1990’s, Mr. Friedberg founded the New Jersey office for Amresco, a publicly traded real estate services company, where he hired and trained teams of workout officers as part of a $5 billion dollar portfolio of defaulted real estate loans and REO. During Mr. Friedberg’s 38 year career he has negotiated or participated in over $10 billion of loan workouts and restructuring. Mr. Friedberg earned a BBA degree in accounting from The George Washington University in 1982 and is a Certified Public Accountant.