Proven Real Estate Investment Expertise
Mandalay provides real estate investment advisory and management services to our funds and clients, which include private equity, financial institutions, family offices, corporate investors, and endowments. Our principals have decades of experience spanning multiple cycles, and have built their track records not only during periods of economic growth but also during challenging times of recessions and crises.
Our Investment Approach
Mandalay’s mission is to generate superior cycle-resistant returns. We focus on markets where real estate fundamentals are underpinned by healthy economic, corporate, and demographic growth. We seek to acquire high quality, well-located assets below replacement cost to mitigate downside risk. Whether a core, core-plus, value-add investment, we implement a proactive asset management strategy to unlock value and drive attractive returns.
Our investment process is driven by data and proprietary research, but we are cognizant that market statistics are inherently historic and backward-looking. To look ahead, we leverage our deep local knowledge and relationships to identify emerging trends before they show up in data reports.
We systematically track industry reports, demographic statistics, and economic data to identify opportunities that meet our clients’ requirements. We have the capability and flexibility to shift between geographic locations, asset types, and investment strategies as risk-reward dynamics change through the real estate cycle.
Unique Deal Origination
Our ability to identify unique opportunities is a result of our team’s extensive experience and long-standing local relationships. The Mandalay executives have built their careers and reputations over decades of working in all areas of the real estate industry. We have developed a deep network with asset owners, brokerages, the commercial lending and investment banking sectors, as well as with institutional investors across the country. We evaluate hundreds of assets per year, not just properties offered on the open market but also privately-negotiated, off-market transactions which can often offer superior investment opportunities.
Proactive Asset Management
We seek to generate superior returns as well as downside mitigation through the disciplined execution of a rigorous business and operational plan. We proactively resolve operating inefficiencies and physical issues by:
- Maximizing net operating income through vigilant cost control and close management of operations teams
- Upgrading assets through strategic and cost-effective physical renovations where appropriate
- Repositioning properties through a comprehensive rebranding strategy
- Establishing and maintaining close tenant relationships to ensure high tenant retention
Disciplined Risk Management
We follow a strict fundamental approach to underwriting our investments. We utilize conservative assumptions, extensive scenario analyses, and thorough due diligence prior to the acquisition of an asset. We employ prudent leverage levels appropriate for the nature of the assets and the investment parameters of our clients, and ensure that our capital structure is carefully managed to maximize returns and control risk.