Banner Oak currently manages twelve investment ventures designed to capitalize real estate operating companies and real estate assets developed or acquired by those operating companies. Providing both capital and strategic resources, Banner Oak and the ventures it manages allow operators to execute on a variety of strategies.
Akard Street Holdings was the first investment fund formed by Banner Oak. It included allocations to capitalize skilled operators to allow them to efficiently scale their portfolios and execute on diverse real estate projects in U.S. markets in which they had on-the-ground expertise. It also included capital for investments directly in assets alongside certain of those operating partners. Akard Street Holdings is no longer making new investments, although it continues to manage its existing investment portfolio.
Banner Oak Industrial Development Venture was the second investment vehicle (after Akard Street Holdings) dedicated to providing asset-level capital alongside Bridge Industrial for the merchant build development of industrial projects in Bridge's core markets. Targeted development sites were well-located with proximity to some of the country's largest population centers, with access to ports and primary transportation arteries. Banner Oak Industrial Development Venture is no longer making new investments and has realized substantially all of its investments.
Banner Oak Multifamily Venture was formed to invest programmatic general partner capital in new multifamily developments sourced and executed by Trinsic Residential Group, a multifamily operating company initially capitalized by Akard Street Holdings. The Venture also made investments of limited partner capital at the asset level on a select basis. Through this allocation of capital, Banner Oak expanded its reach in the multifamily program originated through its Akard Street Holdings investment in Trinsic. Banner Oak Multifamily Venture is no longer making new investments and has realized substantially all of its existing investments.
Banner Oak Core Venture selectively acquired, for a longer-term hold period, stabilized projects developed by operating companies within the Banner Oak program. Banner Oak targeted assets that had achieved successful lease‐ups in strategic infill locations within high growth markets. The Venture was designed to hold properties with competitive advantages in their submarkets that afford stable performance and outsized potential for growth in net operating income. Banner Oak Core Venture is no longer making new investments, although it continues to manage its existing investment portfolio.
Banner Oak Enhanced Core Venture capitalizes select industrial projects developed in partnership with Bridge Industrial with the intention of long-term ownership as core assets. Value creation through development and leasing is designed to afford the Venture the opportunity to own a core industrial portfolio at costs below customary, open-market acquisitions.
Banner Oak Operating Company Fund acts as Banner Oak's second private equity vehicle to invest in real estate operating company platforms, following the full deployment of Akard Street Holdings. The Fund pursues investments with high-quality, integrated operating teams having experience in select real estate sectors who are seeking programmatic entity level equity and/or asset capital to profitably grow their businesses. This program includes capital for programmatic GP co-investments in assets, pursuit costs and credit support, as well as preferred equity structures.
Banner Oak Investment Fund provides capital for selective, direct investments in real estate assets developed or sponsored by companies in which other Banner Oak managed funds have invested. The Fund thus creates the opportunity for unified capital solutions for the assets so selected. The Fund's primary objective is to identify an attractive group of risk-adjusted limited partner opportunities throughout the portfolios of these operating companies.
Banner Oak Multifamily Venture II was the second venture (after the full deployment of available capital by Banner Oak Multifamily Venture) formed to invest programmatic general partner capital in new multifamily developments sourced and executed by Trinsic. The Venture also made investments of limited partner capital at the asset level on a select basis. Through this allocation of capital, Banner Oak continued its commitment to the multifamily program originated by Trinsic. Banner Oak Multifamily Venture II is no longer making new investments, although it continues to manage its existing investment portfolio.
Banner Oak Multifamily Enhanced Core Venture capitalized select multifamily projects developed in partnership with Trinsic with the intention of long-term ownership as core assets. Value creation through development and leasing stabilization was designed to afford the Venture the opportunity to own a core multifamily portfolio at costs below customary, open-market acquisitions. Banner Oak Multifamily Enhanced Core Venture is no longer making new investments, but continues to manage its existing investment portfolio.
Banner Oak Industrial Development Venture II was the third investment vehicle (after the full deployment of available capital by Akard Street Holdings and Banner Oak Industrial Development) dedicated to continuing to provide asset-level capital alongside Bridge Industrial for the merchant build development of industrial projects in Bridge's core markets. Banner Oak Industrial Development Venture II is no longer making new investments, but continues to manage its existing investment portfolio.
Banner Oak BOV was formed to continue to provide operating and co-investment capital to Bridge Industrial (previously capitalized through Akard Street Holdings) to allow it to continue to grow and develop its business in the U.S.
Banner Oak BOV UK was formed to provide capital for the expansion of Bridge’s business to the United Kingdom. The venture provides co-investment capital for Bridge’s UK industrial assets.
Bridge Industrial (Bridge) is a vertically integrated platform with development, acquisition, and asset and property management capabilities. Bridge is focused on the acquisition and development of industrial real estate in targeted industrial markets including metropolitan areas in and around Chicago, Illinois, southern Florida, northern New Jersey, New York, New York, California, Seattle, Washington, Portland, Oregon, and the United Kingdom.
In addition to ground-up development, the company also acquires existing facilities that provide opportunities to add value and operate on a flexible basis.
Trinsic Residential Group (Trinsic) is a fully integrated multifamily platform with in-house development, construction and asset management capabilities.
Trinsic develops suburban, high-end institutional, garden-style properties, as well as high-density urban communities, concentrating on areas of disproportionate population and business growth. Trinsic also performs the general contracting for its product in select regions and emphasizes high-end finishes, distinctive design elements and a full complement of amenities.
Capital Health Holdings (Capital Health), acquires and develops private-pay assisted living and memory care senior housing facilities throughout the U.S. The company targets opportunistic returns by investing in underperforming properties and enhancing value by repositioning, expanding or improving operations; acquiring distressed debt and taking ownership of the property; and developing properties in infill, supply-constrained locations.
Capital Health has established a strategic relationship for each of its projects with Milestone Retirement Communities, an affiliated professional management company.
Western National Group (WNG) pursues its core competency in development and value-add acquisitions across California, with a focus on greater Los Angeles, Orange County, and the San Jose MSA.
WNG is fully-integrated with development, property management, and construction functions in-house.
Pendulum Property Partners (Pendulum) focuses on implementing creative value-add and development/redevelopment strategies for office and mixed-use properties in their target markets in Southern California, with plans to selectively expand further into additional markets including Northern California and the Pacific Northwest.
The company has in-house construction and property management teams.
Lavoro Capital Holdings (Lavoro) was formed as a sister company to Trinsic Residential Group with dedicated personnel and a distinct strategy of investing in attainable rental housing. Lavoro develops and acquires attainable rental housing in markets where Trinsic has infrastructure and expertise with an initial emphasis on the underserved Texas market. Target projects include projects financed with low-income housing tax credits as well as naturally occurring affordable housing.
Lavoro conducts asset management in-house and has established a strategic partnership with a national property manager which has substantial affordable housing expertise.
All information is as of November 1, 2022, unless otherwise indicated.
The material on this website is provided for informational purposes only. It is not a solicitation of any offer to buy or sell any security or to participate in any investment strategy, nor should it be construed in any way to constitute investment, legal, accounting or tax advice. All information is current as of the date stated above and is subject to change without notice. References to third parties contained herein should not be considered a solicitation on behalf of or an endorsement of those entities by Banner Oak. Banner Oak’s products and services may not be available in all jurisdictions or to all client types. Investing entails risks, including possible loss of principal. Investments in private real estate funds are speculative and involve a higher degree of risk than more traditional investments. Investments in private real estate funds are intended for sophisticated investors only. Past performance is no guarantee of future results.