Former Situs Founders Form New Commercial Real Estate Investment Firm
HOUSTON, July 7, 2013 /PRNewswire/ -- Martin Bronstein and Ralph Howard, two Houston-based real estate professionals, recently announced the formation of BHW, a commercial real estate investment firm. Real estate professionals may remember Bronstein and Howard from their previous, and extraordinarily successful, business venture, Situs. The two have taken their extensive operating experience and focus on due diligence and underwriting and adapted it to the current commercial real estate investment model.
The duo previously founded Houston-based Situs in the mid-1980s and grew the firm from a local Houston-based brokerage company into one of the world's leading commercial real estate consultancies, providing due diligence, primary and special servicing, asset management, and brokerage services to investment banks, insurance companies, opportunity funds, pension funds, FDIC, and other acquirers of commercial real estate. Bronstein served as Chairman of the Board and Howard served as CEO. In 2011, Situs was sold to Helios AMC, a rated special servicer sponsored by Ranieri Partners.
The company had achieved the following metrics at the time of sale:
- Employed over 400 professionals across nine offices throughout the United States and Europe
- Been involved with one trillion+ dollars of commercial real estate-related transactions since its founding
- Evaluated over 30,000 assets in excess of $150 billion in the United States and Europe during previous four years
- Analyzed over 45 bank portfolios with assets in excess of $75 billion during previous four years
- Advised on €60 billion of European commercial real estate debt during previous seven years
- Rated Primary and Special Servicer by Fitch and S&P that serviced a portfolio of over $12 billion of commercial real estate loans
- Brokered over $100 million of REO and bankrupt assets in Houston during previous three years
- Created an "onshore" back office fulfillment center for the commercial mortgage industry that employed 55 professionals
- Land: Up to 100+ acres; preferably commercial sites and broken land deals.
- Retail: 15,000 - 100,000 square-foot stand-alone, specialty, strip, and neighborhood centers.
- Office: 10,000 - 100,000 square-foot single or multi-tenant buildings; fully-leased, under-leased, or vacant properties.
- Industrial: 15,000 - 100,000 square-foot single- and multi-tenant, triple net, flex and warehouse space.
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