3 Family Offices Investing in Real Estate

As various industries continue to gain traction from family offices, we continue to shine a light on the alternative wealth space and private capital markets by providing detailed analysis regarding the past investment history of these private wealth groups. In utilizing FINTRX, which provides intel into thousands of direct deal transactions made by 4,000+ global family offices, we explore three groups directly investing in real estate.

1. Batipart Invest

With roots dating back to 1988, Batipart Invest is a Luxembourg, Europe-based single-family office managing the wealth of the Ruggieri Family. The firm's patriarch, Charles Ruggieri, created his wealth via an extensive career in real estate, the steel industry and private investing. The son of Italian immigrants to France, Ruggieri made several strategic acquisitions throughout the 1980s, positioning himself as a leader in the Foncière des Régions' real estate market. Throughout the 1990s, Batipart Invest remained relatively European-focused, primarily allocating to opportunities in real estate.

In the early 2000s, the firm diversified its interests more aggressively both regarding sector and geographic focus. Batipart Invest expanded into the health care sector, establishing several nursing homes and retirement facilities throughout Europe. In addition to their health care investments, the firm expanded into the hospitality space, developing roughly twenty hotels throughout twelve African countries. Today, the firm invests in a range of opportunities both directly and via fund vehicles. The group's real estate interests span across Europe, Africa and North America. When investing, the firm focuses on markets driven by population growth. Batipart Invest takes into consideration the social and environmental implications of each investment. The group regularly invests alongside like-minded family offices, private equity groups and institutional investors.

2. ETC Group (Endrev Family Office)

Established in 1990, ETC Group (Endrev Family Office) is a Stuttgart, Germany-based single-family office acting as the holding company and investment vehicle of the Endrev family. The firm was initially founded as a consulting and trading firm for the Endrev family and has since shifted its focus. Today, ETC Group allocates primarily within the real estate sector and constantly looks for quality deals to fit its extensive portfolio. The firm takes a long-term approach when investing and focuses primarily on the German market. ETC Group invests in residential, commercial, raw land and multi-use properties with an emphasis on developing environmentally and socially sustainable residential properties. From 2016 to 2018, ETC Group made five direct investments in the European housing market across popular metropolitan areas throughout Germany. The firm looks to invest in properties in need of refurbishment and takes a particular interest in residential properties outside major urban hotspots. 

3. Pebb Capital (Rosenberg Family Office)

Founded in 2014, Pebb Capital is a Boca Raton, FL-based single-family office (with an additional office in New York City) serving as the investment vehicle for the Rosenberg family. The Rosenbergs are the founders of Pebb Enterprises, a real estate private equity investment firm founded in 1973. Pebb Capital is a multi-strategy investment firm, seeking opportunistic investments in real estate and private equity. They invest across the capital stack, with a core focus on cyclically defensive and value-oriented investments. Pebb Capital invests across several real estate asset classes, including multi-family, retail, office, parking, student housing and hospitality.

In October 2018, the firm made a direct investment in Property Markets Group, a national real estate development firm with offices in Miami and Manhattan, specializing in exceptional new construction commercial and residential projects. In October 2019, Pebb Capital directly invested in Sundy Village, a development project in downtown Delray Beach. The development proposal includes the relocation of seven existing buildings and the reconstruction of one existing building. Pebb Capital makes preferred equity investments in properties in core urban markets to support development and redevelopment projects. The firm manages a portfolio of roughly 25 assets, representing more than $1B of investment value.

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