Coretrust Capital Partners, LLC (“Coretrust”) is a newly formed real estate firm focused primarily on the acquisition and development of office properties.
Founded by three original partners of Thomas Properties Group (NYSE:TPGI): Thomas Ricci, Randall Scott and John Sischo.
Coretrust is a vertically integrated company with the ability to source, underwrite, acquire, entitle, develop, manage and operate office assets within growth markets throughout the United States.
Coretrust is targeting growth markets in the West, Southwest, and Mid-Atlantic regions focusing primarily on acquiring under-performing assets, strategically addressing their shortcomings, and maximizing value through intensive hands-on repositioning and functional enhancements.
Coretrust’s founders have over 100 years of cumulative industry experience and over 85 years working with one another.
Over the course of their collective careers, Coretrust’s partners have acquired, managed, and disposed of over $4.4 billion of institutional properties.
Took public and operated TPGI, an NYSE-listed real estate company
Grew TPGI portfolio from 2 MSF of Class A office to over 17 MSF
TPGI was a top performing manager based upon Time-Weighted Returns benchmarked to NAREIT Indices
Core competency in developing and managing LEED certified properties
Ultimately sold TPGI to a public REIT at a valuation of $1.2 billion; 15% premium to then-current screen price