Argosy Real Estate Partners, a real estate investment firm focused on private real estate funds with $2.5 billion in assets under management, has formed Argosy-Lionbridge Management LLC, an asset management business focused on publicly-traded real estate securities.
ALM, which will be based in New York City, looks to expand AREP’s private real estate investment strategy to the public real estate securities market and looks to identify public real estate securities across the capital structure trading at a discount to their intrinsic or private market value. ALM will have access to AREP’s private real estate experience including data collected from AREP’s investment team, operating partner network, industry contracts and other sources. As part of the launch of ALM, Greg Morillo and Adam Feldman, co-founders of the ALM predecessor firm Lionbridge Asset Management LLC, have joined AREP and will serve as ALM’s chief investment officer and chief operating officer, respectively.
“We believe compelling investment opportunities exist in inefficient and overlooked areas of the public real estate securities markets,” comments Andy Stewart, co-founder and co-chief executive officer of AREP. “The ability to take advantage of public market liquidity and recurring pricing inefficiency to opportunistically shift investment strategy and target public securities at various points in market cycles is very attractive to us.”