Real Estate | Real Estate Distressed Investment, Distressed Asset Investment Management (2024)

Gil Tenzer

Portfolio Manager & Director of Real Estate Investments

Mr. Tenzer is a founding member of Contrarian and the Portfolio Manager for Contrarian’s Real Estate Fund series. Since Contrarian’s formation in 1995, Mr. Tenzer has been responsible for sourcing, managing, and coordinating the disposition of the Firm’s real estate investments, as well as taking an active role in Contrarian’s corporate investments. Mr. Tenzer has chaired and served on several creditor and unofficial bondholder committees. Prior to co-founding Contrarian, from 1993 to 1995, Mr. Tenzer served as Co-Head of the High-Yield Real Estate Group at Oppenheimer & Co. (“Oppenheimer”), as well as a Senior Analyst at the firm. Prior to Oppenheimer, Mr. Tenzer worked at Arthur G. Cohen and was responsible for the analysis, financing, acquisition, disposition, restructuring, and asset management of a nationwide portfolio of investments in the real estate, lodging, restaurant, aviation, and manufacturing industries. Mr. Tenzer received his MBA from The Wharton School of the University of Pennsylvania and a BS in Business Administration cum laudefrom Georgetown University.

Brett Rowland

Co-Portfolio Manager of Real Estate Investments

Mr. Rowland joined Contrarian in 2003 and is Co-Portfolio Manager for Contrarian’s Real Estate Fund series. Prior to joining Contrarian in 2003, Mr. Rowland was an Associate at J.P. Morgan Partners, the Bank’s internal Private Equity Group. At J.P. Morgan, Mr. Rowland was responsible for domestic corporate and asset-level principal investments in the real estate sector. Before J.P. Morgan, Mr. Rowland worked at Vornado Realty Trust from 1998 to 2000, where he had responsibilities in acquisitions, development and capital markets. Prior to Vornado, Mr. Rowland was an Associate in the Real Estate Investment Banking Group at Lazard Freres & Co. from 1994 to 1998. Mr. Rowland received a BS in Economics from The Wharton School of the University of Pennsylvania.

Michael Halperin

Managing Director & Real Estate Research Analyst

Mr. Halperin joined Contrarian in 2004 and is a Managing Director and Real Estate Research Analyst. He is responsible for acquisitions and asset management of private real estate investments. Prior to joining Contrarian in 2004, Mr. Halperin was a Senior Vice President in the real estate group at Oaktree Capital Management, LLC. Mr. Halperin’s responsibilities at Oaktree included acquisitions, asset management and the disposition of distressed real estate assets in the United States and Europe. Before Oaktree, from 1992 to 1996, Mr. Halperin was a Senior Investment Analyst and Asset Manager in the real estate division of the Metropolitan Life Insurance Company, where he was responsible for the repositioning and asset management of troubled assets located in California, Arizona and Colorado. From 1991 to 1992, Mr. Halperin was an Account Officer with Citibank Real Estate, Inc. Mr. Halperin received an MBA from the Yale School of Management and a BA from the University of California at Los Angeles. Mr. Halperin is an active member of the Urban Land Institute.

Michael Rader

Senior Vice President & Real Estate Research Analyst

Mr. Rader joined Contrarian in 2016 and is a Senior Vice President and Real Estate Research Analyst. He is responsible for acquisitions and asset management of private real estate investments. Prior to joining Contrarian in 2016, Mr. Rader was a Vice President at CPG Real Estate where his responsibilities included evaluating, structuring and executing opportunistic real estate debt and equity investments in Latin America and the Caribbean. From 2008 to 2011, he was an Associate/Analyst at Torchlight Investors where he performed underwriting, analysis and asset management of high yield real estate debt investments across the United States, including CMBS, first-lien commercial mortgages, mezzanine loans and preferred notes. From 2007 to 2008, he was an Analyst within the CMBS group at J.P. Morgan, focused on loan origination and underwriting. Mr. Rader received a BS in Management with Honors from Binghamton University.

Sam Robinson

Senior Vice President & Real Estate Research Analyst

Mr. Robinson joined Contrarian in 2020 and is a Senior Vice President and Real Estate Research Analyst. He is responsible for acquisitions and asset management of private real estate investments. Prior to joining Contrarian, Mr. Robinson was a CRE Sector Manager at Medalist Partners, LP., where he was responsible for evaluating, structuring and underwriting real estate debt investments across the CMBS and bridge loan portfolios. Prior to Medalist, Mr. Robinson held positions of Research Associate (2012-2014), CMBS Research Analyst (2014-2016) and CMBS Sector Manager (2017-2018) at Candlewood Investment Group, LP. In those roles, he was primarily tasked with the analysis of CMBS and other real estate opportunities. Mr. Robinson received a BA in Biology with a Minor in Economics from Colgate University. He is also a CFA charterholder.

Prospective real estate investments and joint venture opportunities should be referred via email to Gil Tenzer at [emailprotected]

Real Estate | Real Estate Distressed Investment, Distressed Asset Investment Management (2024)

FAQs

What is a distressed asset in real estate? ›

When the person or business needs immediate cash and wants to sell the asset at less than its value, it becomes a distressed asset. Distressed assets fall into three basic categories: personal property, equity ownership in a business (which is a form of personal property), and real property.

How to invest in distressed real estate? ›

To get started, identify a few different neighborhoods you're interested in. From there, you can begin looking for homes that have fallen into disrepair. Then you can research public records and determine if there's a potential buying opportunity.

What is the asset management strategy of real estate? ›

Real estate asset management is the act of analyzing real estate investment assets in order to develop effective economic strategies that mitigate risk exposure. This is traditionally done by: Sourcing lucrative real estate investments. Reducing operational, maintenance and closing costs.

What does asset management do in real estate? ›

The broad objective of asset management is to maximize property value and investment returns. This means reducing expenditures when possible, finding the most consistent and highest sources of revenue, and mitigating liability and risk, among other things.

What is an example of a distressed investment? ›

Example of a basic distressed investment

They stop paying their mortgage and now the bank is in a situation where they are forced to foreclose on the house or sell their mortgage claim to another bank / investor. This happened to a lot of people during the financial crisis due to large declines in housing prices.

What are the types of distressed assets? ›

Distressed debt is a part of the leveraged and high-yield loan market, and is rated below investment grade debt. The most common distressed debt securities are bank debt, bonds, trade claims, and common and preferred shares.

Where is the best place to buy distressed property? ›

One of the best ways to locate distressed properties is to search online. Top websites that specialize in distressed property listings include Auction.com, Foreclosure.com, HomePath by Fannie Mae, HomeSteps by Freddie Mac Homes, HUDForeclosed.com, and RealtyTrac.

How to invest $20 000 dollars in real estate? ›

You can't buy very many houses for $20,000, but that doesn't mean you can't invest in real estate. There are many ways to buy shares of real estate today. For example, you can invest in a real estate ETF, a real estate investment trust (REIT) or you can try real estate crowdfunding.

How to invest $300,000 in real estate? ›

How to Invest 300k in Real Estate
  1. Get involved in real estate crowdfunding.
  2. Invest in a multi-family property in a less costly neighborhood.
  3. Buy fixer-uppers and remodel them for profit.
  4. Purchase rental properties that may require no money down.
  5. Develop relationships with your bank to finance projects.
Oct 19, 2022

How do real estate asset managers make money? ›

Asset management companies make money by charging fees in exchange for managing their client's financial assets. Fee structures may vary but, most often, they represent a percentage of the total assets under management. Asset management companies offer investment solutions to a wide variety of different clients.

What is the difference between asset management and real estate management? ›

What is the difference between asset and property management? Asset management involves increasing the total worth of an individual or company over time by buying, selling, and improving investments. In contrast, property management involves handling the daily operations of a property, including maintenance.

How do you win in asset management? ›

Leading firms clarify and communicate their vision and long-term goals, prioritize and focus their investments, resource their investments with dedicated project leadership, set reasonable milestones/key performance indicators (KPIs) and hold themselves accountable, align and incent desired behaviors across the ...

Is asset management a lucrative career? ›

Investment banking and asset management offer lucrative career paths for ambitious, high-performing economics and finance students. Jumping into either of these fields often means making a lot of money right out of school.

Does asset management make a lot of money? ›

At the Portfolio Manager level, earning potential is around $1.0 – $1.5 million per year.

Is it worth having an asset manager? ›

If you cannot or do not want to actively take care of your assets, then you should consider professional assistance. A good asset management offers you a time-saving, professional and convenient solution for your capital.

What is the difference between stressed and distressed assets? ›

Distressed debt is the debt from entities that are going through bankruptcy—or are on the brink of going through it. Stressed debt is the debt from entities with serious financial issues, but not serious enough that they are immediately near bankruptcy.

What is an example of a distressed debt? ›

An Example Distressed Debt Trade

Its Debt / EBITDA is now 10x, its EBITDA / Interest has fallen below 1x, the Secured Debt is trading at 90% of its face value, and the Unsecured Debt is down to 60%.

How would you value a distressed asset? ›

In certain cases, the value of a distressed company may be estimated based on its forced sale value. This approach involves estimating the proceeds that would be generated from selling off the company's assets and settling its liabilities.

What are stressed asset funds? ›

Stressed assets are equal to non performing assets plus written off assets plus restructured loans. When assets are not performing, they become doubtful and non-performing assets. If those assets don't recover, they become bad loans. Before the period of 90 days, they are called Stressed Assets.

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