GSDP is a full service development and development services firm that focuses on the acquisition, development and repositioning of infill apartment projects located primarily in the Western U.S. with an emphasis in the greater Southern California region.
GSCP is a full service fund fiduciary manager through separate accounts originating and placing joint venture, preferred equity, and mezzanine capital to local operators to facilitate the acquisition and development of multi-family apartments, condominiums, office, retail, industrial and hotel projects throughout the Western U.S.
Through the course of my career I have closed in excess of 20 transactions with the principals of Geneva, Michael and Mark, and their adherence to detail and timely follow through is excellent.
— Bob Hart, President/CEO - TruAmercia
The Geneva Story
Geneva’s co-founders and principals Michael Lowinger and Mark Macedo have worked together successfully for over 25 years and have been involved in the acquisition, development and financing of over 120 transactions totaling over $2.5 billion.
Lowinger and Macedo met at Heller Financial, an affiliate of Fuji Bank. Based in Los Angeles, Lowinger was Executive Vice President - Western Regional Director and Macedo oversaw asset management as Senior Vice President. There, the team financed over $1billion in real estate transactions in multiple property types providing bridge debt, mezzanine, and joint venture equity capital.
Lowinger and Macedo saw a niche to provide capital to the small to middle market and in 1999 co-founded Hanover Financial, a fiduciary fund manager that provided joint venture equity for the development of real estate projects throughout the United States. They raised over $300MM in five separate funds with investors including the Marcus & Millichap Company, Mass Mutual Insurance, Macquarie Bank of Australia, Union Bank (an affiliate of the Bank of Tokyo), Wachovia Securities, Nationwide Insurance and HEB Supermarkets of Texas’ Employee Pension Fund, and invested in over 120 joint ventures earing investors over 18.6% IRRs on average even through two recessions.
Geneva was formed in 2012 to take advantage of the Principals’ deep real estate experience and expand to development, acquisition and advisory services while maintaining its capital markets platform.
Geneva’s development platform focuses on identifying and developing strong infill multi-family apartments with an emphasis in Southern California; Geneva has spearheaded development, acquisition and repositioning, investing in over 10,000 multifamily units in the Western U.S. In addition, Geneva develops single tenant assets and has completed numerous projects nationwide.
A Simple Approach
Identify sound real estate with a focus on the micro-location, utilizing its established relationships over the past 25 years in the marketplace. Under its fiduciary fund management, a similar approach with established trust has led to consistently repeat business. Almost all of Geneva’s ventures have been completed with entities who have completed well more than one transaction. With its experience in attracting both institutional and private investors, and the knowledgeable background to properly report and proactively communicate, Geneva is nimble enough to target projects from 25 to 250 units as well as capable of successfully executing a business plan for larger projects, both as a developer and fiduciary fund manager. Geneva approaches development, repositioning, ownership and fiduciary fund management with strong asset performance through creativity, expertise, and diligent day to day management.
Investment Track Record
As Co-Founders of Hanover Financial Company, the Principals were directly involved in 123 joint ventures totaling $2.5 billion in aggregate investment. Nearly $500MM of fiduciary capital was invested in multifamily on behalf of multiple large institutional investors including The Marcus & Millichap Company, Mass Mutual Insurance, Macquarie Bank of Australia, Wachovia Securities, Nationwide Insurance and HEB Supermarkets of Texas’ Company’s Employees Pension Plan. Over 19 years as a fiduciary, the Principals have generated solid returns with an average realized IRR of 18.6% with a projected overall IRR of 22.2% and a 1.51x multiple.
