BLT, NYC investment firm create real estate joint venture

Real estate company Building and Land Technology has joined with commercial real estate investment firm Green Hollow Capital Partners to form BLT Green Hollow, a joint venture with more than $1.6 billion of equity capital.

The joint venture will be led by BLT Chairman Carl Kuehner and Green Hollow CEO Jim Glasgow.

The new fund is the ninth in a series invested and managed by BLT and will have an anchor investment of $102.5 million. (The partners have invested $1.6B of equity through their predecessor funds.) The combined track record of BLT, based in Stamford, and New York City”™s Green Hollow Capital Partners includes investing nearly $6 billion of equity capital in more than $15 billion of debt and equity transactions throughout the U.S. and the Caribbean.

BLT Green Hollow has begun investing this capital under its commercial real estate investment strategy, primarily focused on high-yield, opportunistic, special situation transactions targeting distressed debt and equity opportunities including rescue capital, mezzanine debt, preferred equity or common equity for all property types.

“After working together for nearly 15 years, and with more than six decades of combined experience in all aspects of CRE through multiple cycles, Jim and I believe that by strategically combining our investment expertise, we can create better opportunities for high quality investments,” Kuehner said.

The joint venture”™s experience in all sectors of commercial real estate will allow BLT Green Hollow to identify high-quality investment opportunities across the CRE spectrum to generate “the best risk-adjusted return, including mispriced or mismanaged assets, and special situations in both equity and debt,” the companies said.

BLT Green Hollow will utilize a vertically integrated structure including in-house development, leasing, construction, and management teams, as well as extensive experience as a rated special servicer and asset manager.