Everest is a privately-held, diversified real estate investment firm. Everest specializes in the acquisition, recapitalization and asset management of real estate, with significant experience investing in and managing REIT, TIC, LLC and LP real estate investment entities. Everest seeks to acquire and finance assets which have a disproportionately high potential investment return compared to the investment risk. Everest invests its own capital alongside its institutional and individual partners, and often owns a substantial majority of the equity of projects within its portfolio.
Everest’s original activity involved investing in limited partnerships that held real estate and other assets. From 1994 through 2008, Everest and its affiliated investment funds invested in excess of $200,000,000 in more than 650 limited partnerships. The initial investment strategy was to make offers to purchase illiquid limited partnership interests that were syndicated in the 1970’s and 1980’s. Everest provided limited partners much-desired liquidity when there were few alternatives. As real estate markets improved in the early 2000’s, most of these partnerships liquidated and capital was returned to Everest and its investors.
Everest Storage is the self-storage affiliate of Everest. Since 1998, Everest Storage focused on acquiring and developing self-storage properties, using the expertise of its principals, who have more than 25 years experience in the self-storage industry, including senior positions with Public Storage, Inc. Everest Storage has built or acquired storage properties and currently manages 8 properties in the U.S. and Canada.
Beginning in 2002, Everest Residential has acquired interests in 37 multifamily properties throughout the United States, 26 of which remain in the Everest portfolio today. These include 2 senior independent living apartments. Overall, the total units currently owned by Everest exceeds 4,500. These properties demonstrate Everest’s ability and capacity to manage on a large scale.
Tax Credit Partnerships
In addition to its conventional property portfolio, Everest has acquired tax credits through tender offers to limited partners, and Everest still owns significant minority interests in most publicly syndicated low income housing tax credit partnerships. Today, Everest is one of the largest private owners of affordable housing investments in the country.
Investment Philosophy and Objectives
Over the years Everest has been successful in taking advantage of both buying and selling opportunities and has achieved its objective of creating a financial model that stresses stable cash flows with moderate leverage, resulting in predictable distributions to investors.
Management Capabilities and Transactions
With its extensive experience, highly-qualified staff, and understanding of complex investment structures, Everest is uniquely suited to manage limited partnerships, limited liability companies, tenant-in-common and real estate investment trust transactions. Moreover, Everest has demonstrated the ability to take the lead in replacing unsuccessful management with its own team. A representative listing of Everest transactions are included in the tombstones under the Significant Transaction tab in the Overview section of this website.