Direct Investment Vehicles
Glenmont has formed direct investment vehicles to acquire, develop and reposition market-rate, multifamily residential and student housing assets having a capitalization of $180 million through March 2016. These include:
Glenmont Real Estate Partners III, LP
Glenmont Real Estate Partners III, LP, a $120 million closed ended fund, targeted opportunistic real estate transactions across the domestic middle market. Glenmont III acquired a portfolio of bank owned assets, defaulted loans, undervalued and distressed properties and development projects. Glenmont III’s portfolio included exposure to the multifamily, hotel, retail, distressed residential and condominium asset classes. The fund was fully deployed in 15 transactions having a total capitalization of $469 million, and with ten realizations through March 2016.
Glenmont Real Estate Partners II, LP and Glenmont Real Estate Partners I, LP
Funds II and I held their final closes in 2005 and 2001 respectively. Together they consummated 26 investments with a total capitalization of approximately $1.36 billion. Their portfolios contained a diversified asset mix including multifamily, senior housing, student housing, hotels, self-storage, retail, and land.