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Infinity Urban Century completes sale of its interest in Daymark Realty Advisors

Oct 15th, 2012

New York, NY, October 4, 2012 – Infinity Urban Century, an investment affiliate of Infinity Real Estate, announced today that it has sold its interest in Daymark Realty Advisors to an entity owned by Sovereign Capital Management, Inc. Infinity acquired Daymark from Grubb & Ellis, in partnership with San-Diego Sovereign Capital, in August 2011, shortly before Grubb & Ellis filed for bankruptcy protection. Daymark is the largest asset manager of tenant-in-common (TIC) properties in the nation and manages a portfolio of commercial real estate properties valued at approximately $3 billion.

Sovereign Capital’s executive team took over the management of the company shortly after the acquisition, under the guidance of a board of directors. Infinity Urban Century provided the company with initial capital support, guidance on restructuring its operations, and strategic advice on its proposed portfolio recapitalization. These efforts led to the formation of two private investment vehicles that have begun closing on several TIC properties in immediate need of recapitalization. Infinity coordinated capital market originations and negotiations on behalf of Daymark, with the help of Brookfield Financial’s investment banking group.

Infinity’s exit after this initial turn-around period marks a new phase for the Company. Sovereign Capital will become the sole owner of Daymark and intends to consolidate the gains made in its first year of operation by pursuing further TIC portfolio consolidations. “We are very pleased with the conclusion of this transaction and the new stage it enables. Sovereign has been a great partner for our group, and we hope to capitalize more investment opportunities with them in the future” said Etienne Locoh, Infinity Urban Century’s managing partner.

About Infinity Real Estate & the Urban Century Initiative
Infinity Real Estate is a New-York-based private real estate owner, investor, and operator focused on the acquisition, redevelopment, and re-positioning of commercial properties across select U.S. markets along the East Coast, the Mid-West and Central States. Infinity Real Estate is the property acquisitions, development, and management unit, owned and operated by the Infinity Group. The Company currently operates approximately 2 million square feet of commercial properties and development projects in 13 states. Infinity Real Estate’s principals have led or have directly transacted in over $2.5 billion of real estate related investments, representing over 75 asset or project acquisitions or developments, as well as several private corporate deals. The Company has established a strict investment discipline centered on active management of all its projects.

 
Infinity’s Urban Century Initiative is aimed at growing the Company’s presence in key gateway urban markets, and at focusing investment dollars on assets designed and built for today’s urban lifestyle generation. This investment program was born out of the formation of Infinity Urban Century, LLC, a partnership led by Steven J. Kassin and Etienne Locoh as the Managing Partners of Infinity Real Estate. The Urban Century Initiative has become a central part of Infinity’s long range strategic plan.

 
The Urban Century Initiative is designed to expand Infinity Real Estate’s portfolio and market presence over the coming decade, and to transform the Company’s platform and resources to capitalize on what we believe will be the growing dominance of global urban marketplaces. This investment program was developed as a strategic framework for Infinity’s growth, and to help guide the tactical choices along the way. For more information about Infinity Real Estate or the Urban Century Initiative, visit www.Infinity-Group.com.