Real Estate Veterans Launch Private Equity Real Estate Platform
Industry veterans Derek Uldricks and Ethan Schelin announce the launch of Pierside Capital, www.piersidecapital.com, which is a real estate focused private equity investment platform that will offer real estate related investments to accredited investors, family offices, and qualified purchasers based in Huntington Beach, CA. In 2020, the firm principals formed affiliate Schelin Uldricks & Co., a real estate investment banking services firm, to raise capital for real estate companies, sponsors, and developers. Through that venture, the partners have uncovered and invested in numerous off-market investment opportunities. Today, they are proud to roll out this platform that seeks to share these opportunities with their network of high net worth investors across the country.
“We have made some very attractive off-market investments over the past couple of years and we expect to see even more going forward especially with the current market dislocations we are seeing. We are excited to share these opportunities with our network and give them the option to participate alongside us, as partners,” stated Ethan Schelin, managing Partner
“Our investments are built considering current market conditions and will likely feature unique structures such as participating preferred equity, LP equity or co-GP equity. They will look quite a bit different than opportunities that are readily available in the market,” commented Derek Uldricks. “We invest our own capital in these transactions so our interests are aligned with our investor network.”
Pierside Capital, through our relationship with Emerson Equity LLC, negotiates terms directly with sponsors and underwrites every transaction utilizing their own formulation of assumptions based on a proprietary method. Investment opportunities will likely be broad in nature but will include Multifamily, build-to-rent SFR, manufactured housing, hospitality, self-storage, horizontal development, vertical development, and select distressed investing. The firm will also seek to co-invest alongside institutional investors on real estate deals.
The principals of Pierside Capital have formed and managed more than seventy real estate funds and deal syndications in their careers. Through affiliate Schelin Uldricks & Co., they have made eight real estate investments in total with one realized and seven still active. The firm believes that educating investors on the private equity real estate industry is of utmost importance and will be publishing a bi-weekly content series on various topics related to real estate investing in private markets.