Prescott Group and Getty Team on $400M Effort

(Globe Street)

by Barbara Jarvie

November 17, 2004 - The Prescott Group and the Gordon P. Getty Family Trusts have partnered on an initiative to target more than $400 million of real estate acquisitions on behalf of private investors. "We're really focusing on two investment efforts-family groups with $30 million to $50 million to invest and those who have a minimum of $250,000 to $500,000 to invest," Theodore R. Gamble Jr., managing director and founder of the locally based Prescott, tells Prescott is a real estate merchant banking firm specializing in private client ventures.

"With our new partnership with the Getty Trusts, we will offer affluent individual investors unique opportunities to acquire property assets with attractive yield characteristics--investments that have typically been available only to major institutional investors and sizeable private investment entities," he continues. The firm has partnered with the Gordon P. Getty Family Trusts to offer expanded real estate investment opportunities to significant individual investors, and with FREO GmbH of Bad Homburg, Germany.

The firm's strategy is to work with wealth managers to help meet the real estate investment needs of their client base by creating fully transparent portfolios of property assets that allow investors "to gain diversity through the real estate asset class. They get a balanced portfolio," Gamble explains.

Through the newly created Prescott Capital Management unit, the firm will sponsor a series of US commercial property investment partnerships and fund vehicles targeted toward private wealth managers serving high net worth investors, including private banks, brokerages, trust companies, family offices, financial advisors and other financial service companies.