Raith invests in commercial real estate equity and debt secured by commercial property. The firm applies a bottom-up, fundamental analysis to each investment – quantifying the intrinsic value of the underlying assets and evaluating the inherent risks of each transaction. The principals of the firm have worked together on the deployment of over $1.7 billion of equity capital across these strategies since 2009.
Raith manages commingled, discretionary vehicles to make value-add and opportunistic acquisitions as well as to invest in distressed loans and special situations. Raith targets assets that have lagged the performance of the broader market due to mismanagement or have significant capital expenditure and leasing requirements in their business plans. Raith’s in-house asset management team directly oversees operations and capital investment at each property, helping to drive value and meet realization goals.
Raith manages discretionary funds and separate account vehicles that invest in a range of debt instruments secured by commercial real estate, including investment grade and non-investment grade CMBS, whole loans, and mezzanine loans. Raith’s principals emerged as significant investors in the post-crisis CMBS market, focusing on the non-investment grade bonds in newly issued securitizations (commonly referred to as B-pieces). Subsequent to these early B-piece investments, Raith has invested in junior investment grade securities, mezzanine loans, and B-notes. Raith also seeks to originate senior loans with an intent to bifurcate the notes.