True North Management Group LLC
Formed in 2004, True North Management Group is a privately held real estate investment management firm headquartered in White Plains, NY. True North seeks to build on the track record of its founding partners and to establish, for its investors, equity and high yield investment platforms that offer the highest risk adjusted return opportunities in the real estate sector. True North Management Group is an institutional real estate private equity firm that pursues high-yield commercial real estate debt and equity investments. Since inception, True North has made over 48 investments with a total transaction value of approximately $700 million to date. True North's first fund ("Fund I") closed in December 2005 with $110 million of capital commitments and was focused on originating new mezzanine debt and purchasing existing debt instruments in the secondary market. Fund I has been fully invested and its investments are now being profitably realized. True North High Yield Investment Fund II ("Fund II") is the firm's most recent offering. Fund II closed in 2010 with over $535million of capital commitments from 24 institutional investors. The team has focused on high-yielding investments in (i) non-performing and distressed debt (ii) sub-performing or mis-priced debt (iii) opportunistic equity and (iv) performing debt. The team has invested approximately 75% of its committed capital. Fund II's targeted investments include structured finance, distressed debt and equity in real estate assets.
Real Estate Specialization
| Multifamily |
| Office |
| Industrial |
| Retail |
| Hotels |
| Health Care |
Investment Type
| Pref/Mezz equity |
| JV partnership |
| Acquisition/Fee Simple |
| Debt |
| Loan Assumptions |
Investment Style
| Value-add |
| Opportunistic |
Typical Deal Size
| $10,000,000 - $50,000,000 |
Desmond McGowan
Girard Tunney
John Elwood
Mark Mutkoski
Paul Turovsky
Richard Gunthel