Corten Real Estate Partners
Corten represents the convergence of three vertically integrated real estate operating platforms, a dedicated construction team and demonstrated investment management expertise

Multifamily

Corten invests directly in middle-market, transitional real estate assets in need of physical or financial re-positioning through its vertically integrated multi-family, office and hospitality platforms.

The National - Multifamily.jpg

THE NATIONAL, Philadelphia PA

BPG Residential Associates LLC (“Reside BPG”) is the Platform’s full-service residential management and leasing company. Formed in 1998, the company currently operates a portfolio of 1,600 multifamily units including high rise luxury, urban walk-ups and premier corporate furnished communities.  The residential portfolio of the Organization has also included 373 “for sale” units along the riverfront in Wilmington and currently has 9 additional multi-family rental projects totaling 1,300 units in development or construction. 


MULTIFAMILY

Managing Partner Specialization: Rob Buccini

In-house Management Co: ResideBPG


Corten Strategy

§ Provide “pay down capital” to Borrowers that need to make senior debt curtailments in exchange for additional term

§ Target high quality assets that do not suffer from incurable physical obsolescence (i.e. 8’0” ceiling heights)

§ Renovate existing multifamily assets, ranging from minor aesthetic upgrades to full gut renovation, and pursue mark to market rent increases and cost reductions

§ Implement hands-on property management through ResideBPG in order to drive material NOI increases or complete asset repositioning when borrowers fail to execute their underwritten business plans