CrossHarbor Capital Partners

CrossHarbor Capital Partners LLC is a Boston-based alternative investment management firm that invests in core-plus, value-add, and opportunistic commercial real estate transactions. The firm seeks short and medium duration debt and equity investments that offer a compelling case for generating high absolute returns. CrossHarbor emphasizes investment strategies rooted in property-level operational enhancements as well as those with pricing advantages that arise from distressed, complex, and dislocated scenarios. CrossHarbor was founded in 1993 by Samuel T. Byrne and William H. Kremer and has invested in more than $12 billion of commercial real estate on behalf of a diversified and highly regarded group of endowments, foundations, public and corporate pension plans, financial institutions, family offices, and sovereign entities.

Investment Type
Pref/Mezz equity
JV partnership
Debt
Investment Style
Core
Value-add
Opportunistic
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Managing Partner

Samuel Byrne

Samuel Byrne is a Managing Partner and co-founder of CrossHarbor Capital Partners LLC. With his partners, Mr. Byrne manages all aspects of the firm’s daily operations including its investment committee and institutional fundraising activities. Since founding the firm, he has overseen all aspects of the investment of more than $12.0 billion in real estate and financial assets across more than 350 transactions. In addition to managing the firm’s primary investment activities, Mr. Byrne is also a Managing General Partner of the MassMutual/Boston Capital Mezzanine Partners Funds which are co-managed by CrossHarbor. Prior to the firm’s inception, Mr. Byrne worked as a Management Consultant advising and designing strategies for private and institutional clients with complex real estate-related bankruptcy and financing issues. Previously, he worked for Fleet Financial Group through its acquisition from the FDIC of the Bank of New England where he managed a large workout portfolio of complex non-performing real estate loans. In addition to his role at CrossHarbor, Mr. Byrne is on the Board of Directors of Affiliated Management Group, Inc. (NYSE: AMG). An active member of the academic and cultural communities, Mr. Byrne currently serves as Co-Chairman of the Board Trustees of the Peabody Essex Museum and is the past Board President of the Brookwood School. Mr. Byrne holds a B.A. in Economics from Tufts University.

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Managing Partner

William Kremer

William Kremer is a Managing Partner and co-founder of CrossHarbor Capital Partners LLC. He is responsible for the general management of all firm activities including capital formation, investment allocation, and asset management. For the past 22 years, Mr. Kremer has led the firm’s investment in approximately $12 billion of value-add and opportunistic commercial real estate assets including retail, land, office, warehouse, apartments, and hotels. In addition, he led the creation and sale of the firm’s mortgage banking conduit business and established the firm’s commercial finance affiliate, Winmark Equipment Finance. Prior to the firm’s inception, Mr. Kremer was a Vice President with Fleet Financial Group in the loan workout division. He was tasked with the resolution of the large loan leveraged buyout portfolio inherited from the Bank of New England acquisition and he spearheaded the creation of Fleet Management & Recovery, a wholly-owned affiliate of the bank that partnered with institutional capital in the acquisition and monetization of more than $3 billion of distressed commercial real estate loans and REO. From 1986 to 1988, Mr. Kremer received his capital market and credit training as an Analyst with Morgan Guaranty Trust Company (JP Morgan & Co.). Mr. Kremer is a graduate of Boston University and a Robert S. Hinds Scholarship recipient. In 2010 his alma mater presented him with the School of Management Distinguished Alumni Award. In 1998 he was selected a Council member of The Woodrow Wilson Center in Washington, D.C. and he has served on the Board of Trustees of The Park School in Brookline, MA and Beaver Country Day School in Chestnut Hill, MA.

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Managing Partner

Jay Hart

Jay Hart is a Managing Partner of CrossHarbor Capital Partners LLC. With his partners, Mr. Hart manages all aspects of the firm’s operations including serving on the firm’s Investment, Valuation, and Operating Committees. Prior to joining CrossHarbor, Mr. Hart served as the founder and President of TriSail Capital Corporation, a wholly-owned subsidiary of Bank of America Corporation. TriSail is an investment firm that provides both joint venture equity and mezzanine debt for project based real estate opportunities. While at TriSail, Mr. Hart oversaw the investment of over $2.0 billion for the benefit of Bank of America as well as other institutional investors. Prior to the formation of TriSail in 1996, Mr. Hart held numerous other senior positions at Bank of America’s predecessor institution, Fleet Financial Group, including executive roles in Strategic Planning, Mergers and Acquisitions, Commercial Real Estate Lending, and National Loan Workout. Mr. Hart received a BS degree in Business Administration and an MBA degree from the University of Rhode Island. A member of the Urban Land Institute, Mr. Hart previously served on the Board of the National Multifamily Housing Council and the National Association of Homebuilder’s Multifamily Leadership Board. In addition, Mr. Hart serves on the Board of Boston based Travelers Aid and Family Services, a nonprofit focused on the problem of family homelessness.

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Managing Partner

Robert Garrow

Robert Garrow is a Managing Partner of CrossHarbor Capital Partners LLC. He is an investment committee member and, together with the other managing partners, is responsible for the general management of the firm. While at CrossHarbor, Mr. Garrow was one of the co-founders of Winmark Equipment Finance – a large ticket commercial leasing company which originated over $500 million per year in equipment leases and loans. At Winmark, Mr. Garrow also served as a board member and member of its investment committee. Prior to joining the company, Mr. Garrow spent ten years at Citizens Financial Group where he held various executive positions including that of President, Managing Director, and Founder of Citizens Capital, Inc., a $450 million private equity firm. Mr. Garrow also held the position of Executive Vice President and Senior Credit Officer of the Citizens Financial Group’s MidAtlantic operations. Additionally, Mr. Garrow was the executive in charge of conducting due diligence on loan and REO portfolios of bank’s targeted for acquisition. During his tenure, he oversaw the due diligence on 23 targeted banks, 19 of which were ultimately acquired. Prior to Citizens Financial Group, Mr. Garrow was a senior executive with Recoll Management (a subsidiary of Fleet Financial Group), the largest special servicing company in the U.S. that managed $8 billion in Bank of New England distressed loans that were transferred to the Federal government. While at Recoll, Mr. Garrow co-founded Fleet Management & Recovery Corporation (FMRC). FMRC was a special loan servicer of distressed assets that were acquired by third parties (e.g., Lehman Brothers). FMRC managed/liquidated over $3 billion in distressed loans for third parties. Mr. Garrow holds a B.S. degree in Finance from Indiana University and an M.B.A. from Northeastern University.

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Vice President

Justin Bain

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Managing Director

Matthew Kidd

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Acquisitions

Neal Opper

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Managing Director

Eric Boyd

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Managing Director

Jennifer Dumas

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Vice President

Kenneth Ferretti

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Acquisitions

Thomas Stevens

Key Focus Areas
Asset Management Private Equity Real Estate Real Estate Investing Institutional Investors
Geographical Area
Mapped Location