Rockpoint Group, L.L.C. (“Rockpoint”) is a real estate private equity firm and Registered Investment Adviser with its headquarters in Boston and with additional offices in San Francisco, Dallas, and London.
We employ a fundamental value approach to investing by targeting select product types and geographic regions, with an emphasis on opportunities in major coastal markets in the United States. Our opportunistic and growth and income programs employ a consistent investment approach across distinct return profiles. We focus on acquiring assets with intrinsic long-term value, at attractive prices relative to replacement cost and stabilized cash flows, and with particular emphasis on value creation opportunities and complex situations.
Through Rockpoint and a predecessor firm, our co-founders with others have sponsored 15 commingled funds and related co-investment vehicles, raised approximately $25 billion in capital commitments and invested or committed to invest in 424 transactions with a total peak capitalization of approximately $62 billion (inclusive of fund equity, co-investor equity and debt).
Experienced Team
Rockpoint’s co-founders have been working and investing together for 26 years and have an average of 35 years of real estate/finance experience. Rockpoint’s senior investment professionals have an average of 20 years of real estate/finance experience.
Strategic Approach
Rockpoint focuses on maximizing risk-adjusted returns by employing a fundamental value approach to investing. This involves targeting high-quality, well-located assets with intrinsic long-term value.
Extensive Relationships
Given the experience of the Rockpoint team, Rockpoint has and continues to build broad-based, substantive industry relationships with advisors, agents, operating partners, investors, lenders, and corporate/institutional owners of real estate.
Compelling Investment Opportunities
Rockpoint believes that it has a reputation for integrity, reliability, creative problem-solving and performing under limited time constraints. This reputation, combined with the continuity and longevity of its relationships, is expected to continue to generate attractive and often proprietary investment opportunities.
Investment Discipline
Rockpoint believes that it has a measured and disciplined approach to investment decision making, which takes into consideration broad macroeconomic trends in addition to market- and asset-specific factors. Rockpoint will not make an investment unless it has conviction that the investment has the potential to generate strong risk-adjusted returns.
Asset Management
Rockpoint maintains a proactive focus on maximizing cash flow through active asset management, including management of operating expenses, implementation of appropriate capital expenditure programs, repositioning under-utilized assets, and re-leasing vacant space as well as other revenue enhancement initiatives.
Alignment of Interests
Rockpoint is a privately-held company which makes meaningful co-investment equity contributions alongside its investors. Rockpoint also structures senior professionals’ compensation to be reliant on the successful performance of the Rockpoint Funds.
Institutional Risk Management, Compliance and Client Service
Rockpoint is a Registered Investment Adviser and has dedicated and experienced professionals who focus on accounting and financial reporting as well as compliance, risk and liability management.
Fundamental Value Approach
Rockpoint targets properties that offer intrinsic long-term value. Rockpoint seeks to acquire assets at attractive values relative to replacement cost and stabilized cash flow and to avoid opportunities where key value drivers are not real estate based. Rockpoint underwrites investments on an unleveraged basis and then customizes capital structures in an effort to optimize risk-adjusted returns. Rockpoint believes that its focus on value-oriented investing provides downside protection.
Geographical and Property Type Focus
Rockpoint targets primarily investments in office, hospitality and multifamily assets in major coastal markets in the United States. However, the flexibility to invest across markets, property types and capital structures is central to Rockpoint’s investment strategy. Rockpoint believes that this approach will allow it to maximize risk-adjusted returns at the portfolio level by proactively targeting specific investment types given existing market conditions.
Investment Thesis
Rockpoint targets real estate investments that fall into three broad categories:
Basis-driven investment opportunities. An important aspect of Rockpoint’s fundamental value approach is acquiring assets at attractive bases relative to replacement costs and stabilized cash flows, also with meaningful downside protection across varying market cycles.
Cash flow enhancement and value creation opportunities. Rockpoint is focused on acquiring high-quality, well-located assets with identifiable opportunities to increase cash flow and create value through active asset management and strategic property management. As part of the underwriting process, Rockpoint develops a strategic plan for each asset which generally (i) targets operating expense reductions, (ii) implements cost-effective capital expenditure programs to upgrade or reposition underutilized assets, and (iii) improves revenue streams through focused leasing and other initiatives. Rockpoint believes that its proactive approach to asset management and strategic property management provides value creation opportunities without relying on (i) robust economic growth, (ii) significant improvements in market fundamentals or (iii) ongoing strength in the capital markets.
Complex situations. Complex situations may offer attractive risk-adjusted returns, as they are often priced inefficiently due to asset-specific issues and/or short-term capital market dislocations. Examples of complex situations may include: (i) restructuring and/or recapitalizing dysfunctional or misaligned partnerships, and (ii) mezzanine debt, preferred equity or other hybrid securities for high-quality real estate assets.
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Chris Bauer is involved in Rockpoint’s western United States investment and asset management activities. Mr. Bauer is based in Rockpoint’s San Francisco office. Prior to joining Rockpoint in 2018, Mr. Bauer worked at Deutsche Bank in the Real Estate, Gaming, Lodging, and Leisure Group for two years. Mr. Bauer received a B.S. in Policy, Planning, and Development from the University of Southern California.
Lindsey Beard is involved in Rockpoint’s investor reporting and fund accounting activities. Ms. Beard is based in Rockpoint’s Dallas office. Prior to joining Rockpoint in 2012, Ms. Beard worked at KPMG in the Audit Practice for six years. Ms. Beard received a B.B.A in Accounting from Southern Methodist University and is a Certified Public Accountant.
Alik Belokopytov is involved in Rockpoint’s eastern United States investment and asset management activities. Mr. Belokopytov is based in Rockpoint’s Boston office. Prior to joining Rockpoint in 2016, Mr. Belokopytov worked at Bank of America Merrill Lynch in the Real Estate Investment Banking Group for two years. Mr. Belokopytov received a B.S. in Computer Science from the University of North Carolina at Chapel Hill.
Andrew Bertha is involved in Rockpoint’s western United States investment and asset management activities. Mr. Bertha is based in Rockpoint’s San Francisco office. Prior to joining Rockpoint in 2019, Mr. Bertha worked at Morgan Stanley in the Real Estate Investing Group for two years. Mr. Bertha received a B.S. in Finance from Brigham Young University.
Fred Borges is involved in Rockpoint’s eastern United States investment and asset management activities. Mr. Borges is based in Rockpoint’s Boston office. Prior to joining Rockpoint in 2011, Mr. Borges worked at Barclays Capital in the Real Estate Investment Banking Group for one year and previously at Cabot Properties for two years. Mr. Borges received a B.A. in International Relations from Tufts University.
Matt Borja is involved in Rockpoint’s western United States investment and asset management activities. Mr. Borja is based in Rockpoint’s San Francisco office. Prior to joining Rockpoint in 2018, Mr. Borja worked at Morgan Stanley in the Real Estate Investing Group for two years. Mr. Borja received a B.S. in Economics with concentrations in Real Estate and Finance from the Wharton School at the University of Pennsylvania.
Steve Caruso is involved in Rockpoint’s financial reporting and tax compliance activities. Mr. Caruso is based in Rockpoint’s Boston office. Prior to joining Rockpoint in 2015, Mr. Caruso worked at PwC as a Tax Manager in the Asset Management – Real Estate Group for six years. Mr. Caruso received a B.S. in Business Administration from Bryant University and an M.S. in Accounting from Northeastern University. Mr. Caruso is a Certified Public Accountant.
Jason Chiverton is involved Rockpoint’s eastern and western United States and European investment and asset management activities. Mr. Chiverton is based in Rockpoint’s Boston office. Prior to joining Rockpoint in 2007, Mr. Chiverton worked at Merrill Lynch in the Real Estate Investment Banking Group for two years. Mr. Chiverton received a B.S. in Applied Economics and Management from Cornell University.
Grace Chu serves as an Associate General Counsel for Rockpoint, focusing on the legal aspects of Rockpoint’s western United States investment and asset management activities. Ms. Chu is based in Rockpoint’s San Francisco office. Prior to joining Rockpoint in 2017, Ms. Chu worked at Gap, Inc. as a Senior Counsel in the Real Estate Law Group for two years. Prior to joining Gap, Ms. Chu worked at Gibson, Dunn & Crutcher LLP in the Real Estate Group for three years and previously at Skadden, Arps, Slate, Meagher & Flom LLP in the Real Estate Group for three years. Ms. Chu received a B.A. in Government from Wesleyan University and a J.D. from the University of California, Berkeley School of Law.
Jay Ciullo is involved in Rockpoint’s finance and treasury management activities. Mr. Ciullo is based in Rockpoint’s Boston office. Prior to joining Rockpoint in 2015, Mr. Ciullo worked at Fortress Investment Group in the Credit Funds Group for three years. Prior to joining Fortress Investment Group, Mr. Ciullo worked at PwC in the Assurance Practice for three years. Mr. Ciullo received a B.S. in Finance and Accounting from Boston College and is a Certified Public Accountant.
Brian Delgado is involved in Rockpoint’s international capital raising activities. Mr. Delgado is based in Rockpoint’s Boston office. Prior to joining Rockpoint in 2015, Mr. Delgado worked at GE Capital (“GE”) for 15 years, most recently as Head of Capital Raising and Investor Relations in the United Kingdom and Asia Pacific. Prior to the launch of GE’s investment management business, Mr. Delgado worked in the firm’s Real Estate Acquisitions and Asset Management Group for five years in Central Eastern Europe. Mr. Delgado received a B.S. in Finance and Management from the Leonard N. Stern School of Business at New York University.
Dan Domb is involved in Rockpoint’s eastern United States investment and asset management activities. Mr. Domb is based in Rockpoint’s Boston office. Prior to joining Rockpoint in 2006, Mr. Domb worked at UBS in the Real Estate, Lodging and Leisure Investment Banking Group for two years. Mr. Domb received a B.S. in Finance and Accounting from the Leonard N. Stern School of Business at New York University.
Greg Dunn is involved in Rockpoint’s western United States investment and asset management activities. Mr. Dunn is based in Rockpoint’s San Francisco office. Prior to joining Rockpoint in 2014, Mr. Dunn worked at Blackstone in the Real Estate Debt Strategies Group for two years. Mr. Dunn received a B.S. in Economics from Duke University.
Crystal Flack is involved in Rockpoint’s legal and risk management activities. Ms. Flack is based in Rockpoint’s Dallas office. Prior to joining Rockpoint in 2020, Ms. Flack worked at Willis Towers Watson in the Corporate Risk and Broking Division for twelve years, where she focused on insurance and risk management solutions for Commercial Real Estate firms. Ms. Flack received a B.A. in Government from McNeese University and a M.P.A. from Louisiana State University.
Brendan Fullum is involved in Rockpoint’s fund model, financial analysis, and hedging activities. Mr. Fullum is based in Rockpoint’s Boston office. Prior to joining Rockpoint in 2016, Mr. Fullum worked at State Street Corporation in the Corporate Valuation and Analytics Group. Prior to joining State Street, Mr. Fullum worked at Moody’s Analytics Technologies in the ABS/MBS Modeling Group for two years. Mr. Fullum received a B.S in Economics and Finance from Bentley University and an M.B.A from Boston College.
Kyle Gardner is involved in Rockpoint’s eastern United States investment and asset management activities. Mr. Gardner is based in Rockpoint’s Boston office. Prior to joining Rockpoint in 2005, Mr. Gardner worked at Blackstone in the Real Estate Group for three years. Mr. Gardner received a B.B.A. in Finance from the University of Texas at Austin.
Keith Gelb is a Managing Member and co-founder of Rockpoint and is responsible for the overall operations and management of Rockpoint, as well as overseeing the origination, structuring and asset management of all of Rockpoint’s investment activities. Mr. Gelb is based in Rockpoint’s Boston office. Prior to co-founding Rockpoint, Mr. Gelb was a managing member of Westbrook Real Estate Partners, L.L.C. (“WREP”), the predecessor firm of Rockpoint. Prior to joining WREP in 1994, Mr. Gelb worked at Morgan Stanley in the Investment Banking Group for two years, where he focused on corporate finance and mergers and acquisitions. Mr. Gelb holds advisory or board positions with several educational institutions and other non-profit organizations. Mr. Gelb received a B.S. from the Wharton School of the University of Pennsylvania.
Tom Gilbane oversees Rockpoint’s investment and asset management activities in the eastern United States. Mr. Gilbane is based in Rockpoint’s Boston office. Prior to Rockpoint, Mr. Gilbane was involved in WREP’s eastern United States and European investment and asset management activities. Prior to joining WREP in 1999, Mr. Gilbane worked at Merrill Lynch in the Real Estate Investment Banking Group for two years. Mr. Gilbane received a B.S. in Engineering from Brown University.
Joseph Goldman serves as an Associate General Counsel for Rockpoint, focusing on the legal aspects of Rockpoint’s investment and asset management activities. Mr. Goldman is based in Rockpoint’s Boston office. Prior to joining Rockpoint in 2014, Mr. Goldman worked at Gibson, Dunn & Crutcher LLP in the Real Estate Group for over four years. Prior to joining Gibson Dunn, Mr. Goldman worked at Kirkland & Ellis LLP in the Real Estate Group for three years. Mr. Goldman received a B.B.A. from Emory University and a J.D. from Emory University.
Darrell Greer oversees Rockpoint’s information technology operations, planning and development. Mr. Greer is based in Rockpoint’s Boston office. Prior to joining Rockpoint in 2007, Mr. Greer worked at Terrabrook as an Information Technology Director for seven years. Prior to joining Terrabrook, Mr. Greer worked at Simmons SIRVEY Corporation as a Senior Software Engineer and Technology Development Manager for seven years. Mr. Greer received a B.S.B.A. in Management Information Systems from the University of Texas at Dallas.
Ron Hoyl oversees Rockpoint’s legal, risk management, human resources and compliance matters. Mr. Hoyl is based in Rockpoint’s Dallas office. Prior to joining Rockpoint in 2007, Mr. Hoyl worked at The Milestone Group as General Counsel for two years. Prior to joining The Milestone Group, Mr. Hoyl worked at Olympus Real Estate Partners as an Associate General Counsel for seven years. Prior to joining Olympus Real Estate Partners, Mr. Hoyl worked at Liddell, Sapp and Zivley, now known as Locke Lord LLP, for 10 years, most recently as a Partner in the Real Estate Group. Mr. Hoyl received a B.B.A. from the University of Texas at Austin and a J.D. from Texas Tech University School of Law.
TK Inbody is involved in Rockpoint’s western United States investment and asset management activities. Mr. Inbody is based in Rockpoint’s San Francisco office. Prior to joining Rockpoint in 2004, Mr. Inbody worked at Credit Suisse First Boston and previously at ABS Capital Partners. Prior to joining ABS Capital Partners, Mr. Inbody worked at Robertson Stephens & Co. in the Mergers and Acquisitions Group for over two years. Mr. Inbody received a B.A. in Economics from Stanford University.
Monica Knake serves as an Associate General Counsel for Rockpoint, focusing on legal and compliance matters. Ms. Knake is based in Rockpoint’s Dallas office. Prior to joining Rockpoint in 2017, Ms. Knake worked at Hudson Advisors, the asset management division of Lone Star Funds, for six years. Prior to joining Hudson Advisors, Ms. Knake worked at Hunton & Williams in the Corporate and Securities Group for four years. Ms. Knake received a B.A. from Texas Christian University and a J.D. from Southern Methodist University.
Ian Macnab is involved in Rockpoint’s eastern United States investment and asset management activities. Mr. Macnab is based in Rockpoint’s Boston office. Prior to joining Rockpoint in 2015, Mr. Macnab worked at Wells Fargo in the Real Estate Investment Banking Group for three years. Mr. Macnab received a B.A. in Economics from Emory University.
Bobby Marz oversees Rockpoint’s financial reporting activities. Mr. Marz is based in Rockpoint’s Dallas office. Prior to joining Rockpoint in 2006, Mr. Marz worked at Goldman Sachs as a Controller in the Private Equity Group for two years. Prior to joining Goldman Sachs, Mr. Marz worked at Terrabrook as an Assistant Controller for three years and previously at Rosewood Management Corporation as an Accounting Supervisor for two years. Prior to joining Rosewood Management Corporation, Mr. Marz worked in public accounting for four years, most recently at EY. Mr. Marz received a B.S. in Accounting from Louisiana State University and is a Certified Public Accountant.
Aaron Matthews is involved in Rockpoint’s legal, compliance and risk management activities. Mr. Matthews is based in Rockpoint’s Dallas office. Prior to joining Rockpoint in 2018, Mr. Matthews worked at Blue River Partners in the legal and compliance department for five years. Prior to joining Blue River Partners, Mr. Matthews worked at J.P. Morgan Chase Bank in the retail banking department for two years. Prior to joining J.P. Morgan Chase Bank, Mr. Matthews served as a Combat Engineer in the United States Marine Corps for four years. Mr. Matthews received a B.A. in Political Science from the University of Texas at Dallas.
Joe McNiff is involved in Rockpoint’s eastern and western United States investment and asset management activities. Mr. McNiff is based in Rockpoint’s San Francisco office. Prior to joining Rockpoint in 2016, Mr. McNiff worked at Citigroup in the Real Estate Investment Banking Group for two years. Mr. McNiff received a B.S. in Finance and Accounting from Boston University.
Hank Midgley oversees Rockpoint’s capital raising, new business development and investor relations activities. Mr. Midgley is based in Rockpoint’s Boston office. Prior to joining Rockpoint in 2010, Mr. Midgley worked at Beacon Capital Partners as a Managing Director in the Global Capital Raising and Investor Relations Group for three years. Prior to joining Beacon Capital, Mr. Midgley worked at Tishman Speyer as a Senior Director in the Equity Capital Markets and Asset Management Groups for three years. Mr. Midgley received a B.A. from Dartmouth College and an M.B.A. from Harvard Business School.
Conor Moore is involved in Rockpoint’s eastern United States investment and asset management activities. Mr. Moore is based in Rockpoint’s Boston office. Prior to joining Rockpoint in 2019, Mr. Moore worked at Wells Fargo Securities in the Real Estate Investment Banking Group for two years. Mr. Moore received a B.S. in Finance and Economics from the University of Maryland.
Hadi Nasser is involved in Rockpoint’s European and Middle Eastern capital raising activities. Mr. Nasser is based in Rockpoint’s London office. Prior to joining Rockpoint in July 2019, Mr. Nasser worked at EnTrust Global, a Legg Mason affiliate, as a Managing Director in the International Sales Group, leading the firm’s activities in the Middle East for six years, initially based in Dubai then London. Prior to joining EnTrust Global, Mr. Nasser worked at Amundi, overseeing the Middle Eastern institutional business for five years, based in Abu Dhabi. Prior to joining Amundi, he worked at Asset Management One, a subsidiary of the Mizuho Financial Group, advising Middle Eastern investors while based in London. Mr. Nasser holds a B.B.A. in Finance from the American University of Beirut.
Tanya Oblak is involved in Rockpoint’s investor relations and U.S. capital raising activities. Ms. Oblak is based in Rockpoint’s Boston office. Prior to joining Rockpoint in 2015, Ms. Oblak worked at Silverpeak Real Estate Partners and its predecessor, Lehman Brothers (“Lehman”), for 15 years, most recently as a Managing Director and Head of Investor Relations and Marketing. Prior to joining Lehman’s Real Estate Private Equity Group, Ms. Oblak worked in the firm’s Real Estate Investment Banking Group for two years. Ms. Oblak received a B.A. from Middlebury College and an M.B.A. from Northwestern University’s Kellogg School of Management.
Ben Parsons is involved in Rockpoint’s western United States investment and asset management activities. Mr. Parsons is based in Rockpoint’s San Francisco office. Prior to joining Rockpoint in 2010, Mr. Parsons worked at Goldman Sachs in the Real Estate Investment Banking and Financing Groups for two years. Mr. Parsons received a B.A. in Economics from Middlebury College.
Spencer Raymond oversees Rockpoint’s finance, accounting and tax functions. Mr. Raymond is based in Rockpoint’s Boston office. Prior to joining Rockpoint in 2014, Mr. Raymond was the Chief Financial Officer at Pleasant Lake Partners and previously at Garrison Investment Group. Prior to joining Garrison Investment Group, Mr. Raymond worked at EY for three years. Mr. Raymond received a B.S. in Finance and Accounting from Syracuse University.
Karleen Reynolds is involved in Rockpoint’s reporting and accounting activities related to the general partner. Ms. Reynolds is based in Rockpoint’s Dallas office. Prior to Rockpoint, Ms. Reynolds was involved in reporting and accounting activities at WREP and Terrabrook. Prior to joining WREP in 1997, Ms. Reynolds worked at Kenneth Leventhal & Company as an Accounting Manager for seven years. Ms. Reynolds received a B.S. in Business Administration from the University of Nebraska and is a Certified Public Accountant.
Brian Ritter is involved in Rockpoint’s eastern United States investment and asset management activities. Mr. Ritter is based in Rockpoint’s Boston office. Prior to joining Rockpoint in 2017, Mr. Ritter worked at Goldman Sachs in the Real Estate Investment Banking Group for three years. Mr. Ritter received a B.S. in Finance and Corporate Reporting & Analysis from the Carroll School of Management at Boston College.
Patrick Ryan is involved in Rockpoint’s eastern United States investment and asset management activities. Mr. Ryan is based in Rockpoint’s Boston office. Prior to joining Rockpoint in 2013, Mr. Ryan worked at Citigroup in the Real Estate Investment Banking Group for two years. Mr. Ryan received a B.S. in Management from Boston College.
C.B. Scherer is involved in Rockpoint’s eastern United States investment and asset management activities. Mr. Scherer is based in Rockpoint’s Boston office. Prior to joining Rockpoint in August 2014, Mr. Scherer worked at Morgan Stanley in the Real Estate Investing Group for two years. Mr. Scherer received a B.S. in Systems Engineering and a B.A. in Economics from the University of Virginia.
Aric Shalev oversees Rockpoint’s investment and asset management activities in the western United States. Mr. Shalev is based in Rockpoint’s San Francisco office. Prior to Rockpoint, Mr. Shalev was involved in WREP’s western United States investment and asset management activities. Prior to joining WREP in 1997, Mr. Shalev worked at Morgan Stanley in the Mergers, Acquisitions and Restructuring Group for two years. Mr. Shalev received a B.S. in Economics from the Wharton School of the University of Pennsylvania.
Jeremiah Sharf is involved in Rockpoint’s eastern United States investment and asset management activities. Mr. Sharf is based in Rockpoint’s Boston office. Prior to joining Rockpoint in 2019, Mr. Sharf worked at Benefit Street Partners in the Real Estate Debt group for four years. Mr. Sharf received a B.A. in Economics from Columbia University.
Bennett Varney is involved in Rockpoint’s western United States investment and asset management activities. Mr. Varney is based in Rockpoint’s Boston office. Prior to joining Rockpoint in 2016, Mr. Varney worked at Deutsche Bank in the Real Estate, Gaming, Lodging, and Leisure Group for two years. Mr. Varney received a B.S. in Economics and a B.A. in English from Duke University.
Bill Walton is a Managing Member and co-founder of Rockpoint and is responsible for the overall operations and management of Rockpoint, as well as overseeing the origination, structuring and asset management of all of Rockpoint’s investment activities. Mr. Walton maintains offices in Jacksonville and Boston. Prior to co-founding Rockpoint, Mr. Walton co-founded and was a managing member of Westbrook Real Estate Partners, L.L.C. (“WREP”), the predecessor firm of Rockpoint. Prior to co-founding WREP in 1994, Mr. Walton was a Managing Director at Morgan Stanley, where he worked in the Real Estate Group for 15 years. Mr. Walton is involved with several real estate industry organizations and serves or served as a Director or Trustee on the Boards of several public companies, as well as non-profit organizations, with a particular interest in educational institutions. Mr. Walton received an A.B. from Princeton University and an M.B.A. from Harvard Business School.
Pamela Yu is involved in Rockpoint’s investor relations and capital raising activities. Ms. Yu is based in Rockpoint’s Boston office. Prior to joining Rockpoint in 2015, Ms. Yu worked at Tishman Speyer in the Leasing, Asset Management and Equity Capital Markets Groups for four years. Ms. Yu received a B.A. in Economics with concentrations in English Literature and Psychology from Columbia University.