FD Stonewater announced today that the firm has launched a new value-add evergreen fund targeting single-tenant assets, FD Stonewater STAR Evergreen Fund, L.P. (the “STAR Evergreen Fund”). The fund will pursue a Single Tenant Active Return (STAR) strategy and will focus on assembling a diversified portfolio of mission-critical single-tenant real estate assets in U.S. secondary and tertiary markets and will be diversified across industrial, government, research and development, and office sectors.
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FD Stonewater’s repeatable single-tenant active return strategy has historically generated value through the identification of underpriced assets and an active management approach in a traditionally passive asset class. FD Stonewater has acquired, asset managed, and/or developed 5.6 million square feet of single-tenant assets valued at $1.3 billion. FD Stonewater’s national capabilities encompass over 8 million square feet of experience in more than 40 secondary and tertiary markets across the country.
The STAR Evergreen Fund will be primarily led by four FD Stonewater principals: Owen Burke, Andrew Schwartzman, David Stade, and Jeffrey Toporek. The firm’s founding partners have worked together for 25 years and bring over 80 years of combined experience in investment acquisitions and asset management.
Principal of Investment and Co-Founder Jeffrey Toporek
“We are excited to publicly announce the STAR Evergreen Fund. We believe our demonstrated and consistent execution of the single-tenant strategy creates a unique investment opportunity, especially in today’s market of noise and volatility. For the first time in 20 years, we are giving outside investors the ability to invest in this strategy.”
Owen Burke, Principal and Director of Asset Management
“The team’s deep experience in investing across sectors and geographies will enable us to continue to build a portfolio of high-quality, mission-critical assets. Additionally, the fund will benefit from the firm’s unique fully integrated cross platform approach by utilizing our investment, asset management, development, and brokerage platforms at various stages of a deal. Our cycle-tested strategy focuses on acquiring resilient assets with both durable cash flows and defined opportunities to seek value enhancement.”
Adnan Virani, Director of Investor Relations
“We believe the STAR Evergreen Fund is coming to the market with a differentiated offering led by mission-critical tenant stories, strong credits, and lease terms that should provide strong cash yields over a full market cycle of 10-15 years. We think this type of exposure is a great fit across investor types and has a perpetual and permanent place in private real estate allocations.”
Disclaimer: Please note that the foregoing is not an offer to sell or a solicitation of an offer to purchase any securities of FD Stonewater STAR Evergreen Fund, L.P. (the “Fund”) or any affiliate, and any such offers will only be made pursuant to a private placement memorandum or similar disclosure document (“Private Placement Memorandum”) and other definitive documentation relating to any such offering. The foregoing information excludes material information that is detailed in the Private Placement Memorandum, including, but not limited to, risk factors. Prior performance is not indicative of future results. An investment in the Fund is speculative and involves a high degree of risk. Only investors who can withstand the loss of all or a substantial part of their investment should consider investing in the Fund. Additionally, an opportunity to invest in the Fund is only available to (a) “accredited investors” as defined in Rule 501(a) promulgated under the Securities Act of 1933, as amended (the “Securities Act”), or (b) non-U.S. persons that meet the requirements set forth in Regulation S promulgated under the Securities Act.