Corten Real Estate Announces Record Investment Activity in 2022
WILMINGTON, Del. and PHILADELPHIA – Corten Real Estate Management LLC (“Corten”) is pleased to report the deployment of $191 million of equity from various investment vehicles over the course of 2022 in support of $1.3 billion of total acquisition and recapitalization transactions. This activity related to 3,500 hotel keys and 700 multifamily units across the United States, in a year that saw the firm invest more capital than in any other since its founding in 2018. Corten closed $78 million of investments in the fourth quarter alone, completing four multifamily and two hospitality transactions leading into the holiday season.
P.J. Yeatman, Managing Partner of Corten, said, “2022 was a great year for our firm, especially the second half during which the market began to react to the Fed’s aggressive change in monetary policy. The team worked very hard to identify unique opportunities and special situations that met our structural and return objectives. It has been incredibly gratifying to see our investment thesis validated by the market et large and to have the privilege of serving our investors in the process. We look forward to seeing what 2023 will offer up.”
About Corten Real Estate Management, LLC (www.cortenrealestate.com)
Corten Real Estate is a private investment manager that targets middle-market common equity, preferred equity and mezzanine debt investments in hospitality, multifamily and office properties located across the U.S. Corten’s sector expertise, coupled with its ability to invest up and down the capital stack, allows it to provide tailored solutions to operating partners and sponsors looking to execute value-added business plans or to reposition assets. Corten is headquartered in Wilmington, DE, with satellite offices in the Philadelphia, PA and Chevy Chase, MD.
For more information, please contact:
Stefanie Langer, COO/CCO, firstname.lastname@example.org