Frank Noyes
  • Boston, MA
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Looking for Private Investors for Core-Plus Private Equity Real Estate Fund 6%/yr & 10% + IRR w/10 yr exit

Looking for advice re: raising $5MM of private equity for core plus single tenant commercial real estate, if you have any suggestions that w/b greatly appreciated.   >> At a high level, we are…Continue

Started Jul 19, 2010

 

Frank Noyes's Page

Profile Information

Location (City, State) (Province, Country)
Boston, MA
A Bit About Me
EKC Private Realty Ventures, LLC is led by Frank Noyes. Frank’s personal commercial real estate investing experience includes his role as a ten plus year owner/operator of a commercial real estate shopping plaza. Frank’s full course of ownership activities include sourcing projects via his broker network, project feasibility studies, property valuation analysis, acquisition bidding/negotiation, project financing, tenant leasing, extensive property renovation, property management, bookkeeping, and financial management.
As an owner/operator of the plaza, Frank upgraded the operation of the property including renovations, re-tenanting, implementing new lease structures, financial engineering, etc. Property management operations have been quite good with 100% tenancy, minimal turnover, long-term triple net leases, increases to annual NOI of 25%, and returns exceeding 20%/annum on the original invested capital, resulting in subsequent property valuation increases of greater than 30%.
Given that the best indications of future success are past success, and there is certainly no future guaranty of success, an investor’s approach will be especially important in the current difficult environment where few active managers over the past three to five years have achieved positive results.
Most real estate funds are extensions of the person driving the fund and characteristics of the GP will be very important on future operations and success. Frank has the following characteristics which make him successful in this endeavor:
• Long-term, conservative, fundamental value orientation
• Diligence Discipline – clear evidence of a historical pipeline of deals where pricing/investment discipline was maintained, but deals were ultimately passed because of unfavorable pricing/or terms. There is evidence that in a “heated-market” Frank passed on the opportunity to invest just for the sake of investing as the long-term value just could not be justified.
• Operational Competency – evidenced by the long-term successful track record of his personal commercial real estate ownership, corporate real estate responsibilities and 15 year successful sales track record with a Fortune 400 company.
• Institutional Memory and DNA – Frank has multi-cycle experience through several real estate markets and can bring that perspective and healthy pessimism to bear on current investment decisions to purchase, manage and sell assets as appropriate and recognize when it is too early to invest even when things look cheap relative to recent peaks, but not long-term realities.
• Legacy investment baggage – given a lack of previous investments which may have soured and need to be managed (interest and attention detractors) – new efforts with the necessary resources, talent and capital will be focused on taking advantage of the best opportunities in what is expected to be a very attractive “generational investment opportunity” investing in the commercial real estate market into 2010 and beyond.
Which Best Describes You? (Pick All That Apply)
Large Investor =>100K, Commercial Broker, Commercial Agent, Direct Lender, Property Manager
What Do You Need
Accredited Investors
What Do You Offer
Private Equity Realty Fund - Focus on conservative Core to Value-Added single tenant top credit investment properties.

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