Re-printed from Citybizlist, the premier insiders’ resource for local business news and information.
Boca Raton, FL-based T-Rex Capital Group LLC has made two investments in DC area properties in the last 60 days, the company said on Tuesday.
The company has purchased a $35 million mezzanine debt position on a 609,000 square-foot GSA property in Washington DC. The company has also purchased a B-note for a Class A, 450,000 square-foot office building in Tyson’s Corner, VA.
Additional details on these transactions were not immediately available.
T-Rex Capital Group CEO Tom Mulroy says it has begun to target above-average risk adjusted returns for investors through timely investments in off-market transactions, undervalued real estate, complex financial restructurings, distressed equity and debt sales, inefficiently capitalized assets, public REIT recapitalizations, strategic partnerships and other value-added opportunities.
“T-Rex will seek to invest in real estate we believe have solid market fundamentals, limited risk, high barriers to entry, significant potential for appreciation and superior risk adjusted returns,” said Tom Mulroy, CEO of T-Rex Capital Group.
Prior to founding T-Rex, Mulroy was in the Commercial Banking industry and was Senior Vice President of Investments at iStar formerly known as Starwood Financial Trust and Senior Vice President at Lazard Freres & Co.