Turnstone Group was established in 2001 to make midsize real estate and real estate-related investments in the United States. Employing an opportunistic investment approach, Turnstone Group seeks to capitalize on distressed or misunderstood situations created by the prevailing economic trends as well as the associated fundamental market dislocations found in various real estate-related markets and securities.
Turnstone Group is often a first-mover, investing away from the typical areas of focus for many real estate investors and in transactions that involve creativity, complexity, or superior market knowledge.
As an investment manager, Turnstone Group adheres to a highly disciplined investment methodology that includes the following elements: rigorous pre-acquisition due diligence; deal execution and detailed business plan development; scrupulous post-acquisition monitoring; and careful scrutiny of optimal exit scenarios.
Turnstone Group employs an opportunistic approach to investing, seeking above-average returns for its investors. Target investments typically present one or more of the following common characteristics:
1) compelling valuation multiples; 2) unrealized value; and 3) repositioning opportunities.
Areas of Investment Focus
- Operationally Distressed or Undermanaged Single Assets or Portfolios
- Utilize management-intensive strategies to implement repositioning program and improve cash flow characteristics
- Amend capital structure to stabilize asset
- Real Estate-Related Debt Securities and Non-Performing Loans
- Seek to establish positions within the capital structure to minimize risk exposure
- Exploit temporary market dislocations
- Underutilized or Outdated Current Use
- Convert or reposition asset to highest and best use
- Select development or redevelopment opportunities