LOS ANGELES–(BUSINESS WIRE)–Manhattan West, a global strategic investment firm offering an integrated platform of investments and services, announced today that the Manhattan West Private Equity Fund completed its growth equity investment in Vino Vault and is now its largest shareholder.

Following five successful acquisitions, and the hiring of Jeff Smith as Chief Wine Officer, Vino Vault will leverage Manhattan West’s investment to continue capitalizing on the highly-fragmented wine storage market. Vino Vault offers a comprehensive wine storage network for general enthusiasts and serious collectors, providing a full suite of services, including concierge-style wine storage, expert inventory organization, collection analysis and turnkey auction management services.

“As our physical presence expands across the country, our goal is to become the nation’s leading wine storage and value-added ancillary services provider,” said Jeff Anthony, President and CEO at Vino Vault. “The funding and intellectual capital we’ve gained from Manhattan West will help us redefine the way people think about and manage their wine collections. Manhattan West’s expertise in serving high-net-worth individuals and families, in addition to its familiarity and experience in our industry, is critical in driving us toward our mission to make wine collecting simple, enjoyable, and hassle-free.”

Vino Vault has locations in Los Angeles, New York City, and Dallas and, through its acquisition-based growth strategy, the company has been growing its network at a rapid pace. Vino Vault recently acquired La Cave Warehouse in February 2022, the New York Wine Storage Company in January 2022, and expects to announce new acquisitions soon. With an objective of having a presence in every major market in the world, Vino Vault’s latest capital infusion, advised by Fluential Partners, will enable the penetration of new markets across the US, as well as identify new opportunities in Europe. Additionally, the company plans to deploy capital toward building best-in-class technology offering a seamless user experience to all clients globally.

“Vino Vault has grown substantially and recent momentum shows a clear capability to establish themselves as a dominant player in the wine market,” said Matt Gibbons, Managing Director and Portfolio Manager of the Manhattan West Private Equity Fund. “At Manhattan West, we strive to help our partners drive exponential growth, and we are confident that Vino Vault’s scalable and profitable business model combined with their highly skilled leadership team will allow us to do just that. Manhattan West is thrilled to empower Jeff and his team as they identify and execute on strategic opportunities to continue their hyper growth trajectory.”

The Manhattan West Private Equity Fund is an active value-add investor in lower middle market companies focused in the media, entertainment, sports, and consumer sectors. The Fund is currently open to new investors with plans to close later this year.

About Vino Vault

Vino Vault is a comprehensive wine storage network that allows clients to manage collections on a modern inventory platform offering comprehensive inventory data, tasting notes, and drinkability recommendations, along with market valuations for insurance and auctions consideration. Vino Vault exists to make wine collecting simple, enjoyable and hassle-free. Learn more at vinovaultwine.com.

Real estate investment firms secure rare value-add multi-tenant industrial warehouse asset in supply-constrained Southern California San Gabriel Valley submarket

SAN DIMAS, Calif. – May 10, 2022 – RanchHarbor, a real estate investment firm based in Newport Beach, Calif., and Manhattan West, a fully integrated real estate investment and management firm based in Los Angeles, announce their joint venture (JV) partnership in the acquisition of a five-acre multi-tenant industrial warehouse property in San Dimas, Calif. The value-add asset includes four individual buildings encompassing 91,000 total rentable square feet across 44 individual suites. The JV purchased the property 98% occupied, substantially below replacement cost and at an attractive basis through an off-market transaction from a private seller. Terms of the deal are not disclosed.

“The San Dimas investment represents a unique opportunity to purchase a multi-tenant industrial asset in a desirable and highly supply-constrained San Gabriel Valley submarket well below replacement cost,” said John Meek, managing principal at RanchHarbor. “With little to no new construction of small-bay industrial product in the submarket, this specific type of multi-tenant product is cost-prohibitive to build in many parts of the Los Angeles Basin due to the lack of available developable land, rapidly increasing land values and high construction costs. RanchHarbor is excited to have secured the asset with Manhattan West and we look forward to executing on another well-thought-out business plan with their team.”

The San Dimas property’s four concrete tilt-up structures feature 14-foot to 18-foot clear height and 44 ground-level doors. Unit sizes range from 1,232 square feet to 6,250 square feet. The property was originally built in 1979 and renovated in 2005 and has a 10‐year historical average occupancy of 95%. The JV’s business plan is to perform deferred maintenance and capital improvements to the property including “white boxing” to improve its marketability.

The asset is located in Greater Los Angeles in East San Gabriel Valley at 221-299 Allen Avenue and 906-924 Cataract Avenue. Positioned along the south side of the 210 freeway at the San Dimas Avenue exit, the property offers freeway identity and efficient connectivity to major transportation thoroughfares. It is less than a mile to the 57/210 freeway interchange and is accessible to the I-10, I-605 and I-15 freeways.

According to Costar, the East San Gabriel Valley industrial submarket’s vacancy is less than 1%, as of Q1 2022, and availabilities are more limited than in many other industrial locations in L.A. County. The direct availability rate is 1.5% compared to 2.6% at the metro level.

“San Dimas and the San Gabriel Valley are experiencing decreasing supply of small-bay industrial product due to up-zoning of industrial land and older industrial buildings being redeveloped for larger distribution assets,” said Adam Norvell, managing director of real estate at Manhattan West. “The area’s lack of new construction and long‐term redevelopment trends combined with strong demand for small‐bay space provides a favorable occupancy outlook for the San Dimas investment. Manhattan West is pleased to partner with RanchHarbor’s knowledgeable team again after the success of our previous L.A County value-add investment.”

The San Dimas investment is RanchHarbor and Manhattan West’s second JV partnership. The two firms recently completed the renovation and lease up of a 18,000-square-foot value-add industrial property in Signal Hill, Calif. The property is currently being marketed for sale.

The San Dimas transaction was facilitated by Lee & Associates with the JV represented by Jack Haley and the seller represented by Todd Launchbaugh and Justin Leewood.

This investment marks RanchHarbor’s ninth acquisition since the firm’s launch in 2020, and the first investment in RanchHarbor Fund I, a $25 million fund targeting value-add real estate investments. With more than $140 million in assets currently under management, RanchHarbor continues to pursue value-add general partner (GP) and limited partner (LP) real estate investment opportunities in select U.S. markets with targeted equity commitments between $3 million and $10 million. RanchHarbor recently expanded its reach to the eastern U.S. with the acquisition of RV Storage Depot, a 55-acre recreational vehicle and boat storage facility in Altamonte Springs, Fla.  

Since 2019, Manhattan West has invested in four separate industrial assets, totaling over 145,000 square feet in Southern California. In addition, the firm has acquired over 150 multifamily units in Los Angeles and is in the process of entitling over 200 units for ground-up development.  The firm is actively seeking value-add and opportunistic industrial and multifamily investment opportunities in major western U.S. markets, with a focus on Los Angeles. 

ABOUT RANCHHARBOR

RanchHarbor is an integrated real estate investment firm based in Newport Beach, Calif., focused on investing in sub-institutional value-add opportunities. RanchHarbor offers joint venture equity and general partner co-invest equity, targeting commercial and multifamily real estate investments between $2 million and $15 million in select U.S. markets. The firm also provides sophisticated asset management, capital advisory and receivership services to institutional and private investors, asset owners and operators. Since its founding in 2020, RanchHarbor has closed on nine investments exceeding $100 million in total AUM across five states.  For more information, visit ranchharbor.com. Follow the company on LinkedIn.

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 opportunistic assets.

Former Citadel and Point72 leader joins minority-led investment firm to continue rapid growth and scale alternative asset management division

LOS ANGELES-(BUSINESS WIRE)-Manhattan West, a global strategic investment firm, today announced it has appointed Evren Ozdemir to serve as Chief Operating Officer. In the newly created role, Ozdemir will lead the firm’s infrastructure build-out and strategic initiatives to continue scaling its vertically integrated platform of services and investments.

Prior to joining Manhattan West, Ozdemir was most recently at Surveyor Capital, a unit of Citadel, where he served as Deputy COO. With decades of leadership experience in investment management, Ozdemir is well-positioned to lead alongside CEO and Founding Principal, Lorenzo Esparza, to help Manhattan West grow into a leading alternative asset manager.

Manhattan West’s in-house portfolio managers build and direct the firm’s bespoke alternative investment strategies in Private Equity, Venture Capital, Real Estate, Digital Assets and Private Debt funds. By providing unique access to diversifying alternative investment strategies, the firm’s client base of athletes, entertainers, and high-net-worth individuals and families can experience attractive risk-adjusted returns, in addition to personalized, concierge-style client service.

“Lorenzo and I share a vision for the future of asset management. The marketplace is seeking access to differentiated returns in the form of alternative investments and Manhattan West is delivering that by building a team of top-tier talent and a proprietary, modern investment platform,” said Ozdemir. “Joining Manhattan West’s entrepreneurial, tight-knit culture has me energized and ready to roll up my sleeves and start building alongside our top-notch team.”

Ozdemir was with Goldman Sachs before he joined Point72 Asset Management where he rose through the ranks throughout his nine-year stint at the firm. His diverse experience at hedge funds, investment banks and fintechs make him well-positioned to assume the role of COO at Manhattan West.

“It was clear to me from the moment I met Evren that he would play an integral role in managing the strategic direction of Manhattan West as we strive to curate innovative investment solutions to meet the distinct needs of our clients,” said Esparza. “His prestigious background and proven effectiveness as a leader make Evren the perfect fit for our leadership team.”

Throughout its near-six years in business since Esparza broke away from J.P. Morgan to launch the firm, Manhattan West has increased its headcount by nearly 50% each year. As the firm’s Private Wealth, Business Management, Tax, and Alternative Investments verticals have grown, Manhattan West has experienced robust asset and revenue growth under Esparza’s leadership and the firm is expected to continue its rapid ascent following Ozdemir’s arrival.

Manhattan West adds to its diverse leadership team with the promotion of financial advisor Angie Spielman

LOS ANGELES–(BUSINESS WIRE)–Manhattan West, a modern investment firm with a vertically integrated platform of in-house services and investments, is pleased to announce the promotion of Angie Spielman to Founding Partner. An experienced and accomplished financial advisor, Spielman focuses on empowering women to build generational wealth and establish financial independence, especially those who require estate planning guidance or have experienced a major liquidity event, such as a divorce, a spouse’s passing, or the financial tailwinds of a business sale.

“Where I grew up in Latin America, the patriarch typically assumes the role of managing finances for their family, but I grew up seeing my mother manage our family’s finances, inspiring me from an early age to take ownership of my financial health,” said Spielman, who grew up in Panama until moving to the U.S. at age 15. “It is my passion to listen to and to guide women through financial literacy and education as their trusted advisor, helping them navigate the complexities of life events. I am exceedingly grateful for the opportunity to use my skillset and experience to uplift women, empowering them to live their best financial lives every day at Manhattan West.”

In 2016, Spielman joined Manhattan West’s CEO and Founding Principal, Lorenzo Esparza, in breaking away from J.P. Morgan to launch the firm. She has been alongside Esparza as Manhattan West has grown its revenue and assets under advisement by a compound annual growth rate of 81% and 32%, respectively, since the firm’s inception. Spielman provides tailored wealth management services to high-net worth individuals and families, corporations and nonprofit institutions. In her role as Founding Partner, she utilizes her deep experience across the financial services landscape, having held numerous positions in fixed income trading, commercial banking, and private wealth management, to further drive the success of the firm.

Esparza, whose parents immigrated to the U.S. from Mexico before he was born, is committed to building a diverse team at Manhattan West. Spielman, Chief Administrative Officer, Kate Kurz, who joined Esparza and Spielman as they departed J.P. Morgan to launch Manhattan West, and Business Managers, Lauren Adovasio and Elizabeth Campos, are just a few of the women at the forefront of the firm’s bespoke approach to client service by way of its Private Wealth, Business Management, Tax and Alternative Investment verticals.

“Manhattan West wouldn’t be where we are today without Angie. She has been an integral contributor to our growth and a fantastic partner from day one,” said Esparza. “As we celebrate Women’s History Month, I cannot think of anyone more deserving to be acknowledged for her commitment to the financial success of women than Angie. She is truly a role model for everyone and anyone pursuing a career in financial services.”

Spielman began her career in New York at Bloomberg before joining J.P. Morgan Asset Management, supporting their Chief US Economist in the fixed income trading group. Prior to joining Manhattan West, she worked in the Commercial Banking division at Bank of America and J.P. Morgan. Outside of her role at Manhattan West, Spielman is a member of the Finance Committee at the San Diego Jewish Academy.

Manhattan West’s platform of services and alternative investments represents the make-up of a modern investment firm. Providing its private wealth and institutional investor clients access to diversified investments in the form of Private Equity, Venture Capital, Real Estate, Private Debt and Digital Assets, the firm has built a unique platform of investments and services to serve the modern investor.

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.

LOS ANGELES–(BUSINESS WIRE)–Manhattan West Real Estate, a division of modern investment firm Manhattan West, today announced it has completed its renovation project at The Gates on Beverly, a four-building, multifamily community featuring 42 unique apartment units in the Larchmont neighborhood of Los Angeles.

Centrally located on Beverly Boulevard, The Gates on Beverly features open and airy studio, one-and two-bedroom floor plans: The Diamond, The Arch, and The Vertical. Finished with designer touches and handcrafted details, including solid stone countertops, stainless steel appliances and farmhouse-style kitchen sinks, tenants can enjoy timeless home design in this popular LA neighborhood. All units have been remodeled with updated bathrooms with new vanities and sinks, spacious closets, and in-unit washers, dryers and dishwashers.

“Manhattan West is thrilled to revitalize The Gates on Beverly to provide quality housing at a time when Los Angeles residents need it most,” said Adam Norvell, Managing Director – Real Estate, Manhattan West. “Our thoughtful, hands-on approach to design and construction gives us the unique advantage of identifying and restoring vintage buildings that are competitive with the brand-new Class-A projects in our communities.”

Acquired by Manhattan West Real Estate in December 2019, The Gates on Beverly underwent substantial upgrades on the building’s exterior, while interior units were outfitted with new electrical and plumbing. The building offers several outdoor conversation spaces, ample parking, bike storage, secure building access, and many other appealing amenities for tenants.

Lease up of the community started in Q1 2021 alongside continuing renovation and is expected to be fully stabilized by the onset of 2022. For more information regarding The Gates on Beverly, please visit thegatesonbeverly.com.

About Manhattan West Real Estate

Manhattan West Real Estate is a community-focused real estate team uniquely positioned as an owner, operator and manager of multifamily and industrial properties. A division of Manhattan West, a modern investment company with a vertically integrated platform of in-house services and investments, Manhattan West Real Estate has sought to add value to its 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.

Previously with EP Wealth Advisors, Robuck joins as a partner on the Private Wealth team

LOS ANGELES–(BUSINESS WIRE)–Today, Manhattan West announced that it has welcomed Tyler Robuck, CFP® to the firm as Partner and Managing Director. Joining Manhattan West’s Private Wealth team provides Mr. Robuck and his clients with a vertically integrated platform of services and investments, including, but not limited to, Business Management, Tax Services and Alternative Investments, that he can offer to the high-net-worth individuals and families, entertainers and small business owners whom he serves.

Approaching $100MM in client assets under his management, Mr. Robuck was drawn to Manhattan West’s modern financial services infrastructure, which empowers him to deliver white-glove service to his long-time clients while providing access to diversifying investments in the form of Private Equity, Venture Capital, Real Estate and Private Debt. Mr. Robuck believes in the importance of alternative asset classes, especially in today’s market conditions when interest rates are at historic lows and the S&P 500 is hovering around all-time highs.

“As I reflect on my career as a financial advisor, I find myself regularly asking, ‘would my family be proud of my work?’” said Tyler Robuck, CFP®, Partner, Manhattan West. “Being a part of the elite team that Manhattan West has assembled is not only a professional accomplishment that my husband, my son and I can be immensely proud of, but I’m also thrilled to offer my clients access to the types of investment opportunities that will truly diversify their portfolios.”

Mr. Robuck has spent nearly a decade working in wealth management prior to joining Manhattan West. He most recently served as a Vice President-Wealth Advisor at EP Wealth Advisors and a Wealth Advisor-Partner at Mission Wealth. Mr. Robuck received his Bachelor of Arts degree from the University of California at Santa Barbara and an MBA from the Marshall School at the University of Southern California.

“Tyler is the exact type of financial advisor that will flourish at Manhattan West; he’s highly educated, he cares deeply about providing the utmost value to his clients and his breadth of experience will bring immense value to our team,” said Lorenzo Esparza, CEO, Manhattan West. “I have supreme confidence that Tyler will fit in seamlessly to our growing team, and he will inspire trust and confidence with all of our Private Wealth clients.”

Recently surpassing five years after departing JP Morgan, the Esparza-led Manhattan West has experienced rapid growth as the independent firm has added human capital to its top-notch team and built out its business lines for the benefit of the firm’s clients. Financial advisors who are interested in learning more about Manhattan West are invited to inquire at info@manhattanwest.com.