HQ Capital Real Estate Finalizes Strategic Partnership, Announces Rebrand as ‘CP Capital’
Aug 30, 2021
New majority shareholders Concord Pacific and HB Management will continue to drive platform’s growth in U.S. multifamily investments, and add significant value through their combined expertise
August 30, 2021 – HQ Capital Real Estate, a highly disciplined U.S. real estate manager specializing in multifamily investments, today announced it has closed on its transaction with Concord Pacific and Paragon Real Estate Advisors (a subsidiary of HB Management) and rebranded to “CP Capital”.
The new partnership, which was previously announced in June 2021 and closed earlier this month, transfers the majority interest of the business to Concord Pacific and HB Management. An affiliate of HQ Capital, an original shareholder, continues to own a minority interest in the business.
“It was a pleasure to work with HQ Capital through this successful transaction. We are delighted to have HQ as our ongoing partner to continue this wonderful venture on multiple dimensions. We are also convinced this partnership will create an enormous amount of synergy and value for our investors. The future of CP Capital will continue its anchor in the U.S. multifamily sector with added dimensions in Canada, Europe and Asia,” said David Ju, Vice President at Concord Pacific.
Jon Breiner of Paragon Real Estate Advisors added, “The new partnership allows for the combination of a deep team of experts with vast knowledge and experience across all areas of the fast-evolving multifamily sector. We are incredibly excited to launch this new brand and look forward to working alongside CP Capital as it continues to generate strong returns for its clients and reinforce its position as a leader in the U.S. multifamily investment market.”
“We are excited to welcome our new partners. With Concord Pacific and Paragon Real Estate Advisors, we will continue to support CP Capital’s growth as well as expand into new markets.
By integrating our expertise with their already successful investment acumen, we believe CP Capital is perfectly positioned to capture opportunities in the U.S. real estate market,” said Dr. Bernd Türk, CEO of HQ Capital.
The management team remains in place and will continue to execute the company’s investment strategy and other operations. A newly formed board of directors will include members from all three companies under its new brand.
“We look forward to working together with Concord Pacific and Paragon Real Estate Advisors, who share our values as well as a strong understanding of the residential market. Their wide-ranging experience and capital positions us for long-term growth and will help us identify new opportunities for our investors and business partners. With this new partnership, we are well-equipped to build on our 30+-year track record of delivering attractive, risk-adjusted returns to our investors,” said Jeremy Katz, Co-Head of CP Capital.
Since its inception as Real Estate Capital Partners in 1989, CP Capital has invested in approximately $15 billion of U.S. real estate through sponsored funds and separate accounts on behalf of global institutions, family offices and ultra-high net worth individuals. Consistent participation in the market over the past three decades has enabled CP Capital to develop deep relationships with many of the top national and regional real estate developers, owners, operators, and brokers in the United States, providing the firm with access to a pipeline of exclusive investment opportunities.
CP Capital will continue to focus on structuring institutional-quality, diversified multifamily investment vehicles, and working with longstanding development partners in growth-oriented markets across the U.S. to create apartment communities that enrich the lives of their residents.
About CP Capital
CP Capital, formerly known as HQ Capital Real Estate, is a highly disciplined U.S. real estate investment manager focused on the multifamily sector. Founded in 1989, the firm has invested in approximately $15 billion of U.S. real estate through sponsored funds and separate accounts on behalf of global institutions, family offices and ultra-high net worth individuals. These investments total more than 70,000 residential units and 21 million square feet of commercial space. In-house capabilities of CP Capital also include asset and construction management, capital markets, legal, reporting, and tax structuring expertise. Through its consistent participation in the market over the past three decades, the firm has developed deep relationships across the real estate industry. CP Capital’s primary investment strategy focuses on opportunistic and value-add rental apartment investments with best-in-class joint venture partners in growth markets throughout the U.S., which has resulted in a strong track record of more than 220 realized investments as of June 30, 2021.
About Concord Pacific Group
Concord Pacific Group is a private enterprise with investments and operations in real estate development, green energy, telecommunications, information technology, hospitality. It is widely recognized and most well-known for developing Canada’s largest mixed-use high-rise urban communities including defining the downtown skylines of Vancouver and Toronto. For over 30 years, Concord Pacific has been known as one of North America’s most innovative and preeminent real estate developers with a focus on world-class master-planned urban high-rise communities. Concord Pacific has successfully delivered more than 150 high-rise residential towers representing approximately 26 million square feet of livable space. Concord Pacific has built a practice around sustainable investments and multi-disciplined diversification. The visionary concept of integrating technology and environmentally sustainable solutions into a full spectrum of its businesses has carried the group successfully beyond real estate development.
Visit concordpacific.com for more information.
About HB Management
Headquartered in Seattle, Washington, HB is a business and investment management entity of the Hewson and Breiner family offices. The managing principals of HB are Edward Hewson and Jonathan Breiner, second- and third-generation managers of their family businesses. HB’s legacy as a U.S. multifamily investor began in apartment buildings in the suburbs of New York City in the 1950s, and expanded to the Western U.S. in the 1990s. Today, a good portion of the firm’s investment has been focused on the Seattle area of the Pacific Northwest. HB’s subsidiaries in the multifamily space include: HB Management, Indigo Real Estate Services, and Paragon Real Estate Advisors. HB manages over $3 billion worth of multifamily real estate and controls entities specializing in development, management, large-scale acquisitions, and brokerage. HB has been an instrument for large institutional investors and family offices throughout North America in the apartment building sector. In addition, it has diversified interests in other asset classes such as hospitality, retail, transportation, and communications.
Visit hbnorthwest.com for more information.
About HQ Capital
HQ Capital is a global private equity specialist that has deployed $9.0 billion of capital into global and regionally focused private equity on behalf of institutions and private clients since inception. As of March 31, 2021, HQ Capital has invested in more than 695 funds and direct companies alongside 270+ fund managers across North America, Europe, and Asia, and holds over 110 Advisory Board seats. HQ Capital has more than 90 employees operating out of offices in New York, Bad Homburg, and Hong Kong.
Visit hqcapital.com for more information.