Glenmont Capital Management
who we are
Founded in 1999, Glenmont Capital Management is a New York-based private equity firm focused exclusively on middle market commercial real estate investments in select domestic real estate development, redevelopment and repositioning opportunities primarily in the multifamily/residential and hospitality sectors. Although institutional in its approach, Glenmont seeks more entrepreneurial opportunities where it can gain a competitive advantage. Through its direct investment vehicles, Glenmont has been able to achieve highly attractive risk-adjusted returns to investors, while at the same time mitigating, if not eliminating, many of the associated risks.
The deep relationships cultivated over the last two decades and the vertically integrated nature of Glenmont’s investment team whose backgrounds include private equity, transactional law, asset management, development and accounting provide a unique competitive advantage in sourcing, underwriting, acquiring, structuring and repositioning real estate assets across all property types.
our strategy
Glenmont's investments have included, and will continue to include, a domestic focus on the following:
- investment opportunities with more modest equity requirements than those generally being sought by the larger real estate opportunity funds;
- complex single asset transactions often avoided by competitors because they require creative structuring, active management, recapitalization, repositioning, development or redevelopment;
- select commercial and residential development or redevelopment projects; and
- real-estate related companies, including entity level recapitalizations, acquisitions, private company build-ups and securities investments.
Glenmont invests equity capital in collaboration with experienced JV sponsors as well as directly without outside operators
Target investments in the less efficient middle market, below the radar of the larger private equity firms, where there is less competition and more opportunities
Identify opportunities which by virtue of Glenmont’s hands-on approach can be developed, redeveloped or repositioned at a discount to current market values
Minimize risk and protect the downside through the creative structuring of each investment
Focus on institutionally accepted high barrier-to-entry markets which have demonstrated strong economic and demographic growth
Position investments into best-in-class institutional quality, stabilized income producing assets generally sought after by the institutional community
our team
Lawrence A. Kestin
Managing Principal
Mr. Kestin is the founder and managing principal of Glenmont Capital Management, LLC, a New York based real estate investment management firm, primarily investing on behalf of funds and separate accounts comprised of institutional and high net worth investors. He provides overall direction to Glenmont and has overall responsibility for identifying investment opportunities and supervising all aspects of Glenmont’s investment strategies.
Mr. Kestin draws on more than 25 years of experience in the real estate industry during which time he has acquired more than $2.6 billion of real estate and real estate related assets. Prior to the formation of Glenmont, Mr. Kestin was a principal of Colony Capital, Inc. where he identified and consummated new investments, and developed and implemented strategic plans, including an operating and disposition strategy for each investment. Mr. Kestin served on Colony’s investment committee, which approved all of Colony’s investments. Prior to becoming a principal of Colony Capital, Mr. Kestin served as the Chief Operating Officer and Senior Vice President of one Colony’s affiliates, Colony Advisors, Inc., where he oversaw the management and disposition of a $1 billion portfolio of real estate assets acquired from the RTC. Prior to joining Colony, Mr. Kestin was a Partner and Vice Chairman of the Real Estate Department of Rogers & Wells (now Clifford Chance, LLP).
Mr. Kestin has appeared as a guest commentator on CNBC covering topics relating to distressed real estate investing. In addition, Mr. Kestin has been a featured panelist at several industry conferences. Mr. Kestin received a B.A. from American University and a J.D. degree from Suffolk University Law School, where he was a member of the Law Review.
Daniel C. Bartolini
Principal
Mr. Bartolini is a principal of Glenmont Capital Management, LLC. He joined the firm in 2009 and has been an integral member of the team and the firm’s growth over the previous six years.
Mr. Bartolini leads the firm’s acquisition team with respect to all aspects of the investment process including sourcing, underwriting, structuring and consummating new investments. He is also actively involved in the ongoing management of the firm’s portfolio and leads the asset management team in the execution of asset repositioning, renovations, recapitalizations, financings, and sales. Prior to joining Glenmont, Mr. Bartolini spent seven years at Ernst & Young, LLP where as part of the Real Estate Hospitality and Construction Group and Transaction Services Group performed financial statement audits of both public and privately held real estate companies with a focus on hospitality and financial due diligence and advisory work for public hotel companies, private equity firms, investment banks and strategic buyers supporting the purchases and dispositions of their respective target companies.
Mr. Bartolini holds a M.S. in Accountancy from the University of Notre Dame, a B.S. in Business Administration from Boston University and is a licensed CPA in New York State.
Craig S. Medwick
Principal
Craig Medwick officially joined Glenmont upon his retirement as a Partner at Clifford Chance in April 2015 but has worked with Glenmont since its inception. Beginning May 1987, Mr. Medwick was a corporate partner at the leading international law firm Clifford Chance (previously known as Rogers & Wells in New York), where he recently served eight years on the firm's Global Management Committee and as Regional Managing Partner of the Americas, and as Head of the Corporate Department in the Americas. Mr. Medwick has significant experience over many years working with real estate fund sponsors, investors and placement agents in fundraising and opportunistic investment activities, joint ventures and portfolio company buildups. In his management, leadership and business development role, Mr. Medwick participated in the continued growth and strategic development of Clifford Chance while managing operations through the fiscal crisis and a challenging legal marketplace. At Glenmont, Mr. Medwick provides advice with respect to the continued development of its overall business strategies, Glenmont sponsored investment opportunities, and identifies business opportunities and trends in the real estate sector. Mr. Medwick and Mr. Kestin have developed their professional relationship over more than thirty years, beginning as lawyers together and later as Mr. Medwick served as legal counsel on fund formation and investment work while Mr. Kestin was at Colony and also for Glenmont. Mr. Medwick previously served as a member of the Board of Directors of the Alzheimer's Association in New York, where he was on the Audit Committee and the Development Committee. Prior to that, Mr. Medwick served as a member of the Board of Trustees of the American Red Cross in Greater New York and was head of the Development Committee. Mr. Medwick received his BA from SUNY at Binghamton and his JD from New York University School of law.
