Matt Gilbert has created a new real estate private equity firm called Green Door Capital, LLC. The company will focus on the acquisition of real estate with opportunistic returns based on higher-risk, non-credit tenants and industries, as well as vacant or ground-up developments.
Gilbert is partnering in this new venture with well-established veteran, Bart Friedman. Mr. Friedman is a principal with Chody Real Estate Corp., a thirty year old real estate and development company, based in Chicago. Mr. Lance Chody, founder of Chody Real Estate Corp. will be instrumental in Green Door Capital’s growth initiatives.
Green Door Capital is currently launching an industrial aggregation strategy and an opportunistic retail acquisition program. The industrial program will focus on national properties while the retail focus will be on the Chicago market. Green Door Capital has committed capital in-house as well as a full platform of real estate operating services and resources including legal, accounting, architectural, project management, construction and property management.
“There are tremendous opportunities to produce outstanding returns from properties that fall just below the standards of institutional investors.” says Mr. Gilbert in a release. Adds Mr. Friedman, “The formula for success has certainly changed over the past few years. We feel that our experience and resources, coupled with Matt’s investment banking background creates the right platform for Green Door Capital to succeed in this ever-changing real estate environment.”
Mr. Gilbert was an executive vice president with Jones Lang LaSalle where he was in charge of the firm’s middle market mergers and acquisitions advisory business. Mr. Gilbert was previously a partner with The Staubach Company, which merged with Jones Lang LaSalle in 2008.
