The Praedium Group

The Praedium Group is a privately-held real estate investment firm formed in 1991. Over the past 23 years, The Praedium Group has sponsored a series of seven private equity funds, as well as several separate investment vehicles, and has invested $9.3 billion of capital on behalf of its clients. The commingled funds and separate accounts sponsored by Praedium have attracted investors that include public and corporate pension funds, financial institutions, insurance companies, foundations and endowments. Praedium concentrates on middle-market assets, each generally between $10 and $75 million in total cost. We focus primarily on assets that have been neglected by traditional institutional investors because of capital market conditions, inadequate capitalization, destabilized leasing, accelerated acquisition time frames, prior mismanagement or other special situations. Our investments include multifamily, office, retail, industrial and mixed-use properties, in all levels of the capital structure, including equity, preferred equity, mezzanine debt and senior debt. We have consistently demonstrated our ability to source, structure, finance and manage opportunities. Throughout its history, Praedium has developed strong relationships with its investment partners and has identified high caliber local operating partners who invest side-by-side with Praedium. Local partners bring us solid market knowledge, investment opportunities, and a complementary skill set to Praedium's investment and asset management teams. Praedium offers its partners not just capital, but expertise in complex transactions, capital markets knowledge, creative and flexible structuring capabilities, and the ability to analyze and close transactions quickly. Based in New York, The Praedium Group consists of a team of seasoned real estate professionals with extensive experience in real estate investments, development, leasing, asset management, law, workouts, finance and accounting, and investor relations. Praedium's ten senior officers have an average of 24 years of experience in the real estate industry. The environment at The Praedium Group fosters an entrepreneurial spirit. Innovative transactions, a proactive approach to asset management and creative investment solutions are all hallmarks of The Praedium Group. MIDDLE-MARKET FOCUS Target mid-sized properties between $10 and $75 million in total cost. Praedium believes it is better capitalized, has more financing alternatives and provides sellers with greater certainty of closing relative to local entrepreneurs. Proven track record of success with middle-market real estate transactions dating back to 1991. VALUE ENHANCEMENT Praedium focuses primarily on assets that have been impaired by prior mismanagement, inadequate capitalization, economic dislocation, and other market inefficiencies. Demonstrated proficiency in managing, recapitalizing and repositioning assets and of making these enhanced properties attractive to institutional participants in the real estate market. Specific examples of value enhancement include: strategic capital investment; implementation of cost reduction programs; redevelopment and repositioning projects to enhance leaseability including change of use; purchase, workout or restructure of defaulted debt; recapitalizations; and high-yield mortgage loans. EXPERTISE IN COMPLEX TRANSACTIONS Praedium's roots as an investor in distressed situations date back to its inception, including transactions involving the purchase of defaulted debt, assets acquired from distressed sellers and recapitalizations. With considerable capital markets knowledge and extensive real estate expertise, Praedium is able to quickly understand and analyze even the most challenging issues and craft innovative investment solutions. The Praedium Group's creative and flexible approach to investing includes debt, equity and hybrid structures. Praedium is adept at evaluating and closing investments on an accelerated time frame, without a financing contingency, to meet the objectives of sellers, partners and lenders. STRONG NETWORK OF LOCAL OPERATING PARTNERS Praedium joint-ventures with local partners that have extensive familiarity with local property market conditions and possess superior asset-level management and execution capabilities. With ready access to capital and creative structuring solutions, Praedium is an attractive choice for existing owners seeking to recapitalize properties and retain an interest in the deal. Praedium seeks to expand its network of best-in-class partners on an on-going basis.

Real Estate Specialization
Multifamily
Office
Industrial
Retail
Investment Type
Pref/Mezz equity
JV partnership
Acquisition/Fee Simple
Investment Style
Core
Value-add
Opportunistic
Typical Deal Size
$10,000,000 - $50,000,000
02.03.2014
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Principal

Christopher Hughes

Mr. Hughes is a senior professional responsible for acquisitions in the eastern region of the United States. Mr. Hughes' broad professional background includes extensive real estate experience, ranging from development and asset management to public market REIT capital-raising activities. Prior to joining CSFB, where he was a Vice President, and his association with The Praedium Group in 1997, Mr. Hughes worked for Salomon Brothers, Inc. where he concentrated on public market REIT transactions, particularly M&A activity. Previously, Mr. Hughes was involved in principal real estate transactions with a regional real estate development and management company. Mr. Hughes received a B.S. in Finance from the University of Maryland and an M.S. in Real Estate Finance from the Massachusetts Institute of Technology.

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Chief Investment Officer

Floyd Lattin

A founder of The Praedium Group, Mr. Lattin directs The Praedium Group's policy and process relating to acquisitions, asset management, dispositions and financial reporting. Prior to joining CSFB in 1993, where he was a Director, and his association with The Praedium Group, Mr. Lattin was a Vice President in the Real Estate Group at Bankers Trust Company, now Deutsche Bank. During his ten years at Bankers Trust, Mr. Lattin established the bank's domestic and international real estate equity effort, chaired its real estate investment committee, served as Group Credit Officer for the Real Estate Finance Group's $6 billion portfolio and was charged with risk management and credit authority for all of the bank's real estate loans. Mr. Lattin is experienced in real estate loan origination, workouts and valuation techniques. Mr. Lattin received a B.A. from Antioch College, an M.A. from New York University and an M.B.A. from Columbia University.

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Principal

Mason Sleeper

Mr. Sleeper joined The Praedium Group in 2008 and is responsible for sourcing mezzanine and debt investments and expanding the Company's reach in the credit markets. He is also responsible for sourcing equity investments in the greater New York City area. Prior to joining The Praedium Group, Mr. Sleeper served as a Managing Director in the Real Estate Finance group at Credit Suisse, handling the structuring and organization of large real estate mortgage and mezzanine loans, as well as equity and preferred equity investments. During his tenure at Credit Suisse, Mr. Sleeper oversaw the workout and liquidation of a real estate portfolio originated by Credit Suisse's prior securitization group valued at nearly $10 billion. Prior to joining Credit Suisse, Mr. Sleeper was a partner at the law firm Shearman & Sterling in New York where he specialized in real estate transactions. Mr. Sleeper received a B.A. in Economics (magna cum laude) from Tufts University, a J.D. from Cornell Law School (Law Review) and an M.B.A. from Cornell Business School.

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President

Russell Appel

A founder of The Praedium Group, Mr. Appel has been building the Company since 1991 and has overseen all aspects of The Praedium Group's activities, including its strategy and its investment policy. In addition to his responsibilities with The Praedium Group, Mr. Appel ran CSFB's Commercial Mortgage Finance business from 1991 to 1994, where he became a Managing Director. At CSFB, Mr. Appel supervised the execution of commercial and multifamily asset securitization and sale advisory assignments totaling in excess of $13 billion. Prior to joining CSFB in 1991 and his association with The Praedium Group, Mr. Appel was a Vice President in the Real Estate Department of Goldman Sachs & Co. for five years. At Goldman Sachs, he was involved in real estate-related sales, financings, mergers and acquisitions and capital markets transactions totaling in excess of $3 billion. Mr. Appel holds a B.S. in Economics (magna cum laude) and an M.B.A. (with distinction) from the Wharton School of the University of Pennsylvania. Mr. Appel served as Chairman of the Board of Directors of the Pension Real Estate Association between 2008 and 2010, and he has previously held the positions of Vice Chairman, Treasurer and Board Member.

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Executive Officer

Victoria Abramov

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Executive Officer

Jeffrey Hertz

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Executive Officer

Robert Murray

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Executive Officer

Ron Strobl

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Advisory Services

Chris Hughes

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Advisory Services

Ronald Strobl

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Administrator

Virginia Rodriguez

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Vice President

Brian Lindenberg

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Chief Accounting Officer

King Lee

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Managing Director

Asim Hamid

LEASES

2015-02-11 16:00:00

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