ICONIQ Capital is now an $89 billion RIA. As they continue to evolve, our Founder and CEO, Lorenzo Esparza was asked to offer his thoughts to Brooke Southall for RIABiz. His view?
“[…] PE backed RIAs get rolled up to capture scale and efficiency. But then these RIAs end up looking like most other RIAs without any real differentiation. […] They begin to look like a UBS or Merrill with the massive infrastructure and corporate red tape. […] In order to differentiate, firms start to move into other areas not traditionally found in an RIA. That is precisely what Manhattan West has done. We are offering a variety of services around the traditional RIA model and adding direct investments. It’s those practices and offerings that make us look different than most other RIAs.”
Why Traveling the World Has Made Me a Better Adviser
Managing Director, Francois Schramek, CFA, has traveled to more than 100 countries. In this article featured in InvestmentNews, he shares three unique experiences during his travels that have shaped his perspective on how to better advise our clients in their financial journeys.
Justin McCurdy Coaches Athletes on Financial Literacy
Because of his longstanding passion for financial literacy, Executive Director Justin McCurdy often tells clients that “the most important gift they can leave their children is not the assets, or even money, it’s the knowledge of how to manage that money.”
Read more in ETF Trends about Justin’s approach to educating clients on building generational wealth.
New Benchmark Is 33/33/33 With Assets Divided Equally Between Stocks, Bonds and Alternatives
Managing Director and Financial Advisor, Tyler Robuck joins Jill Malandrino, a global markets reporter, for a Nasdaq Trade Talks interview. In this brief video, they discuss why every investor should consider alternative assets for their portfolios.
A Foolproof Guide to Insuring Your Valentine’s Day Jewelry Purchases
Congratulations to Lauren Adovasio on being quoted in MarketWatch. This Valentine’s Day, it may be wise to consider jewelry insurance, but there is one thing to keep in mind. Before purchasing insurance, clients are encouraged to do a thorough inventory of what they own, particularly with the idea that they may not realize the value of their present pieces.
L.A.’s Ultra-Competitive Real Estate Market Sparks Nontraditional Negotiation Tactics
Congratulations to Elizabeth Campos on being quoted in The Hollywood Reporter.
The 60/40 Portfolio Is Dead. Long Live 33/33/33.
A 60/40 portfolio of stocks and bonds used to be the gold standard, but at Manhattan West, we are bringing a modern approach to private wealth.
In his recent Kiplinger article, Managing Director, Tyler Robuck, explains why every investor should consider alternative investments for their portfolios, especially real estate, venture capital and private equity.
Manhattan West Real Estate Group Completes $4M Sale of 14,400 Square Foot Industrial Property
19 months after purchasing the industrial real estate property for $1.8M, Manhattan West completes extensive value-add project and sells the newly-renovated asset
LOS ANGELES–(BUSINESS WIRE)–Manhattan West, a global strategic investment firm, today announced that its Real Estate Group has sold an industrial property totaling 14,400 square feet that consists of two individual buildings with four individual 3,600 square foot suites. As a vertically integrated owner, operator, and manager of commercial real estate, Manhattan West’s unique approach enables the firm to provide maximum value in its commercial real estate investments.
Situated in the highly desirable South Bay sub-market, the property benefits from easy access to Los Angeles International Airport and Long Beach Airport. Located one mile from the I-110 freeway, tenants have convenient access to both the Port of Los Angeles and the Port of Long Beach.
“While most buyers were deterred by the extensive structural improvements required, our ground-up development experience allowed us to quickly quantify this risk and get comfortable with the investment,” said Adam Norvell, Managing Director of Real Estate at Manhattan West. “In the end, we were able to fully execute our business plan under budget and ahead of schedule, while delivering above pro forma rents.”
Manhattan West acquired the asset in February of 2020 for $1.8M and closed the sale on December 7th for $4M after four months of extensive value add renovations, including significant structural improvements, interior/exterior paint, a new roof system with a 20-year warranty, new skylights and LED fixtures, renovated individual offices and restrooms, landscaping updates, and secured fencing. The company retained LA Commercial and worked with associates Albert Pacleb and Joshua Schwartz to market and properly identify a diversified tenant mix for the portfolio. By June of 2021, the asset was fully leased and stabilized with new NNN leases in place.
Manhattan West prides itself on taking an institutional and sophisticated approach to investing, while remaining nimble and entrepreneurial to provide value to its investors. The firm is actively seeking industrial value-add and opportunistic development opportunities in the $5M – $30M range, with a primary focus on Southern California.
About Manhattan West Real Estate
The Manhattan West Real Estate Group is a community-focused real estate team uniquely positioned as an owner, operator and manager of multifamily and industrial properties and has sought to add value to the communities it operates in and positively impact the tenants and residents of its buildings. Since inception, the group has focused on targeting value-add and core plus assets.
Good Advice Helped Showbiz Talent Survive Pandemic
Congratulations Lauren Adovasio, Elizabeth Campos, and Jack Sinoryan on being recognized by Variety in the 2021 Business Managers Elite list. Read how good advice helped showbiz talent survive the pandemic in their latest article.
How to Retain Your Business, and Your Sanity, When Leaving Your Firm
For financial advisors seeking independence, CEO Lorenzo Esparza stresses the importance of not allowing “what ifs” to deter them from launching their own firm. In a recent interview with Financial Planning, he shared that founding Manhattan West has been the highlight of his career and urges other entrepreneurial advisors to plan their vision for building their own firm.