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Mandrake capital partners4/14/2023 Park Madison Partners, LLC is a New York-based capital solutions provider for global real estate alternative investments. As of March 31, 2022, Mandrake manages approximately $2.1B.įor more information, please visit. During their tenure at York and GA Holdings, the Principals led the acquisition and development of approximately $3.0B of real estate investments, which they continue to manage. The Principals previously led the US real estate investment activities of York Capital Management, as well as the real estate investment activities in the US and Western Europe of Gerard Alexander Holdings. Mandrake was founded in 2019 by Benjamin Haefele, Joseph O’Connor, and Michael Kavourias (the “Principals”) with the goal of capitalizing on the ever-changing landscape of opportunistic real estate investing in the US. ![]() We are glad we had the opportunity to partner with them on this capital raise.”Īs of the final close, the Fund had already committed $165MM of equity to eight investments across single-family build-to-rent, multifamily, office, and mixed-use real estate. They have a strong track record of being nimble and uncovering deep value opportunities across the risk spectrum. “But we were confident that Mandrake was the right manager for the times. “When COVID-19 hit, we had no way of knowing how real estate markets would be affected or what the world would look like once the pandemic was over,” said Park Madison Partners’ Rob Kohn. ![]() “We’re willing to do the work to find the hidden value in these deals, and historically that approach has paid off.” “We look for deals that don’t fit neatly within a standard ‘bucket,’ perhaps due to the property type, business plan, or misunderstood risk factors,” said Joseph O’Connor, Managing Partner of Mandrake. The Fund’s investment parameters will be largely unconstrained, following a bottom-up approach with the ability to opportunistically source investments across property types, geographies, and execution strategies. ![]() The Fund intends to pursue real estate investment opportunities with situational dynamics and capital market inefficiencies, which Mandrake believes provide opportunities to acquire assets at discounts to their fair or efficient value. This is Mandrake’s first discretionary commingled fund, and limited partners include a diverse group of institutions, family offices, and high net worth individuals. NEW YORK, J(GLOBE NEWSWIRE) - New York-based Park Madison Partners today announced the final close of Mandrake Capital Real Estate Fund, LP (the “Fund”), with $268MM of total commitments.
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