New company to acquire corporations’ complete real estate portfolios
Patriot Equities will acquire, operate, and invest in all forms of corporate real estate property types throughout North America, including office, industrial, lab/R&D, and land.
It is estimated that $3 trillion, or 65% of all real estate in the U.S. is owned by corporate America. Geoff Gardner, Principal of Patriot Equities, believes his company will be providing a valuable service to corporate America. He states that “for many [corporations], these assets yield no incremental cash flow, and due to underutilization, often create a drag on corporate earnings. Divesture of real estate assets allows companies to focus their capital on core operations for greater efficiency or expansion and acquisitions. Until now, there has never been a single-source provider that can acquire a corporation’s real estate assets over the entire real estate portfolio…â€?
“Traditionally, real estate investment is a fractured industry driven by regional players who cannot acquire broad portfolios of properties spread across various product types or geographies,” says Erik Kolar, principal and co-founder of Patriot Equities. “We’ve built our entire business model with a geographical reach and operational platform that allow us to acquire the complete range of a corporation’s real estate holdings - regardless of location, type, or environmental limitation. “