In utilizing the FINTRX family office data and research platform, which provides intel into thousands of direct deal transactions made by nearly 3,000 family offices worldwide, we explore three family offices making direct investments in the real estate space.
1. Lindell Investments
Founded in 1997, Lindell Investments is a Tampa, Florida-based single family office managing the wealth of Carl Lindell Jr. and the Lindell family. Lindell created his wealth through a series of entrepreneurial endeavors and real estate investments. In the late 1970s, Lindell owned and operated seven large car dealerships throughout numerous cities in the southern United States. In 1997, Lindell formed Lindell Investments to serve as his personal real estate investment firm. Throughout the 2000s, Lindell grew the firm and expanded it into several additional business sectors. Today, the firm provides the family with a variety of services including wealth, investment and real estate management, manager selection, concierge services and philanthropic planning, among others. When investing, the firm spans across several asset classes including real estate, private equity, private debt and more. Though the group invests in an opportunistic manner, it has historically focused heavily on the real estate space. When considering real estate opportunities, Lindell Investments looks at single family residential, raw land, retail, mixed use, multi-family residential and office properties. The firm focuses a majority of its efforts on deals throughout the west-central area of Florida including Tampa Bay, Fort Myers, Orlando and the I-4 corridor. The group targets high population growth areas with high income and high job growth demographics. Furthermore, Lindell Investments looks for properties with close proximity to experiential retail, job generators and major grocers with (private or municipal) investments in place. The group has historically targeted locations with unique characteristics such as water views and easy access to transportation and amenities.
In October of 2019, Lindell directly invested in Lake Killarney Townhomes, a luxury waterfront townhome community located in Winter Park, just north of downtown Orlando, FL. Lake Killarney is minutes away from the exciting shops, restaurants and recreation that Winter Park and Orlando have to offer. The next month, Lindell made a direct investment in Gramercy Court, a Dunedin, FL-based community offering the conveniences of city living with a small town feel. Gramercy Court was developed by Icon Residential, a real estate investment and development company founded in 2009 as a partnership between the managing partners, both of whom have a strong background in residential real estate investments, construction, brokerage and development projects. Icon principals currently own over 600 residential and commercial properties located throughout Florida. Lindell Investments considers all strategies on an opportunistic basis and will co-invest alongside other LPs and family offices.
2. Ott Partners
Founded in 2014, Ott Partners is a Prague, Czech Republic-based single family office managing the wealth of its founders Jean-Francois Ott and Nicholas Tommasini. The pair created their wealth through extensive careers in the real estate and private equity spaces. Ott began his career in the early 1990s as a derivatives trader in Paris France before founding Orco Property Group. Ott continued to grow Orco Property Group into one of Europe's largest property companies, owning a portfolio of more than 200 assets across commercial, residential and hotel properties. The company continued to expand, eventually spinning off subsidiaries throughout Europe and acquiring properties in several major central and eastern-European cities. In 2014, Ott sold the majority of his stake in OPG after several restructuring events. Today, the firm takes part in numerous opportunities primarily throughout the private equity and real estate landscapes. Its real estate focus primarily includes commercial, hotel, multi-use, multi-family residential and office properties. In addition to its real estate investments, Ott Partners regularly partakes in private equity and venture capital investments. Sectors and verticals of interest include technology, real estate technology, hospitality, marketing, renewable energy, communications, manufacturing, healthcare and more. With regard to its venture capital and private equity investments, Ott Partners is more open to investing in global opportunities. In January of 2017, Ott Partners directly invested in La Residence Paris, a private mansion, formerly owned by a famous French singer, redesigned and renovated by its owner to make it a 'unique pied-à-terre' in Paris. Attentive to mother nature, La Résidence Paris is heated by a geothermal heat pump to limit its footprint on the environment. Furthermore, Ott Partners serves as the holding company for several family owned businesses across the beverage, yachting, automotive and art industries. Geographically, the firm considers real estate investments opportunistically with a historical focus on major European cities, particularly Paris, Prague and Berlin. Ott Partners regularly looks to co-invest alongside like-minded fund managers, institutions and family offices.
3. Winfield Lee Investments
Established in 2002, Winfield Lee Investments is a Scottsdale, Arizona-based single family office managing the wealth of a single undisclosed US-based family. The firm's primary interest is in the real estate space, focusing specifically on opportunities in the United States. Since its inception, Winfield Lee Investments has participated in more than fifty real estate deals, mostly in Arizona. The firm participates in a number of investment opportunities throughout the real estate space including commercial, retail, office, institutional residential, hotel, resort and mixed use properties. Winfield Lee regularly allocates to a range of deal types including acquisitions, development and add on investments. By 2020, the firm's gross transaction value was in excess of $1B with more than 3,000 acres of land, 1.7 million square feet of retail space, and three million square feet of office space. The firm invests in a highly conservative manner in an effort to minimize risk while maintaining attractive returns. Despite remaining conservative, the firm's independent nature allows for a flexible investment process. In December of 2015, Winfield Lee Investments directly invested in Chandler Viridian, a premier mixed-use development site integrating residential, class A office, hospitality and retail developments located in Chandler, AZ. Winfield Lee Investments will occasionally co-invest alongside like-minded investors and takes a long-term investment approach.
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