VergePointe Capital makes investments in distressed residential real estate
2009 - VergePointe Capital, LLC is excited to announce their investment in three separate distressed real estate development projects located in Newberg, Tigard and Vancouver representing a combined 190 single family residential lots/homes with total project costs in excess of $20 million. JT Smith Companies is the development partner on the projects. Managing Directors Scott Roberts and Matthew Vance represent VergePointe Capital in these opportunities.
"We are excited to work with JT Smith Companies on these real estate projects. We are in a financial environment that has generated many unique opportunities in the real estate markets. We look forward to working together to take advantage of these development opportunities that have significant growth potential," said Scott Roberts.
"We are fortunate to assemble a great team that can take these distressed real estate opportunities and turn them into performing assets. JT Smith Companies has been great to work with and we are excited to participate in these opportunities with them and their management team," said Matthew Vance.
VergePointe Capital formed special purpose funds in conjunction with several successful entrepreneurs and high net worth individuals to make the investments in the projects. "These types of transactions help to satisfy the entrepreneurial spirit and talents of our clients, and provide an opportunity to potentially grow their capital," added Mr. Vance.
About JT Smith Companies
JT Smith Companies has served the development needs of some of the largest home builders in Oregon and Washington, including D.R. Horton and others. JT Smith was established in 1993 and is one of the Northwest's top residential developers. With over 20 years of experience, Jeff Smith combines his extensive knowledge in real estate and superior project management skills to provide the company with innovative vision and progressive leadership.
About VergePointe Capital, LLC
VergePointe Capital, LLC is in business to co-invest in established private companies and real estate projects alongside middle market private equity firms, institutional investors, successful entrepreneurs and their management teams. VergePointe Capital’s efforts focus primarily on buyouts, recapitalizations and growth equity transactions in additional to real estate opportunities. The Managing Directors of VergePointe Capital include Brad Parrott, Craig Olson, Scott Roberts and Matthew Vance. Certain Members of VergePointe Capital offer investment advisory services through VergePointe Wealth Management LLC (an SEC registered investment advisor).