Opportunity. Execution. Value Creation.
Phoenix Investors (“Phoenix”) is private real estate company established in 1994. Our senior leadership, led by Chairman & Founder Frank P. Crivello, and advisors have over twenty-five years of experience in successfully acquiring, managing, and operating commercial real estate from coast to coast. This experience allows Phoenix to identify opportunities and apply its highly disciplined investment strategy focused on risk/reward metrics during acquisition. By reducing downside risks, we simultaneously enhance the potential for substantial value creation during the execution phases. This creates investment value and returns in excess of industry norms for our transactions—many of which have unique characteristics and solutions not envisioned by competitors.

Our substantial experience allows our management team to analyze acquisitions from all perspectives and from different scenarios, including:

• Portfolio Repositioning.  We understand that traditional concepts and solutions typically used over the last five, ten or fifteen years may not be optimal today.  We seek to find the proper and, sometimes, creative solutions to help corporations dispose of their excess real estate, whether structuring a sale-leaseback transaction for an operating facility or acquiring a former, single-tenanted industrial plant with environmental issues.
• Trend Driven.  We are adept at identifying underlying themes and nuances that cause changes in the micro and macro marketplaces and drive value creation. For example, we can identify and evaluate single tenant net-leased transactions when the market has mispriced the tenant credit risk or fundamentals of the underlying real estate.  Further, we can identify and evaluate underserved and over-served retail and industrial markets to target where best to acquire properties. We also identify and evaluate  properties that may be vulnerable to direct competition and exterior forces such as internet commerce.   And finally, we understand the challenges and benefits of various property types in a dynamically changing economy.
• Distressed. We understand all forms, whether (1) borrower distress due to over-leverage, tax liability issues, or personal guarantees; (2) lender distress, including the need for portfolio sales and/or note sales; or (3) property distress due to deferred capital projects and maintenance which are generally complicated to evaluate and costly to undertake.

 
Experience. Stability. Fiduciary Responsibility.

Since 1991, Frank P. Crivello has served as the senior advisor to the Trusts and today is Chairman of Phoenix Investors. Given his extensive experience in all aspects of commercial real estate, Mr. Frank P. Crivello provides strategic and operational input to the Trusts, Phoenix Investors, and affiliated companies.

Frank P. Crivello began his real estate career in 1982 focusing his investments in multifamily, office, industrial, and shopping center developments across the United States. In 1994, Frank P. Crivello shifted his focus to the support of the Trusts. From 1994 to 2008, Mr. Frank P. Crivello assisted Phoenix Investors in its execution of its then business model of acquiring net lease commercial real estate across the United States. Since 2009, Frank P. Crivello has assisted Phoenix Investors in the shift of its core focus to the acquisition of industrial real estate throughout the country.
 
Throughout the 1990s, Phoenix Investors and affiliates of the Trusts were focused primarily on single-tenant arbitrage opportunities available across the country. To this end, Phoenix Investors leveraged various market inefficiencies, including: (1) deal exposure that was generally limited to local markets (unlike today, where the internet allows for broad dissemination of information at low cost); (2) differences in credit market perceptions of unrated regional and national tenants versus investment-grade rated tenants with similar lease structures and cash flows; and (3) innovative Wall Street financings that relied on informed, deal-specific ratings that were completed to exploit these inefficiencies.

From 2002 to the beginning of the economic crash in 2007, our management team concluded that most prevailing real estate opportunities and trends did not meet the disciplined risk/reward analysis required by Phoenix. Accordingly, real estate acquisitions for the Trusts during this time were kept to a minimum while our management team focused on our existing portfolio.

Since the economic crash, Phoenix has aggressively used its experience to source, identify, and harvest opportunities that have met required risk/reward metrics. Many of these opportunities have been found to be as attractive as any we have ever seen. Currently, our focus is on maximizing forms of distress, working with corporations, banks, and institutions on portfolio dispositions, as well as the underappreciated markets for Class B and C industrial properties and portfolios.

Looking forward, Phoenix will continue applying its disciplined investment strategy to commercial real estate opportunities while implementing new technologies and adding resources.