Our Company

We specialize in middle-market transactions in all sectors and across the risk spectrum

With decades of investment experience behind him, founder Jeff Kaplan has watched the commercial real estate industry evolve from a local, entrepreneurial business to one of the largest asset classes in institutional investment management.  When he and partners Tim Yantz, based in New York City, and Andrew McDaniel, based in London, set out to build a new investment firm in 2009, they were able to take their best ideas over multiple cycles and create a focused and consistent investment process that serves as the backbone of Meadow Partners. Together the partners have been responsible for the acquisition and ongoing asset management of over $30 billion of real estate assets located in the United States, Europe, and Asia through over 300 separate transactions.

The firm currently manages six commingled opportunistic funds, two core/core-plus separate accounts and a perpetual life vehicle on behalf of blue-chip U.S. institutional investors.

Established Investment Platform
2009
Meadow Real Estate Fund I launched
2012
Meadow Capital Management LLC registered with the SEC as an Investment Adviser
2014
London Core-Plus Separate Account established
2015
Meadow Residential formed to enhance U.K. residential sourcing/asset management
2020
Gotham Office Realty Partnership established
2021
Meadow Evergreen, perpetual life vehicle launched
2021
MP Living, for-profit Registered Provider established to broaden the scope of U.K. residential investment opportunities that Meadow can pursue

Auerbach
at a Glance

2

Closed Private Equity Vehicles

2
Closed Private Equity Vehicles
22
Separate Transactions
3,364,001
Square Feet

$273.7M
Total Capitalization
2,465
Residential Units
8
States‍
Core Principles

Protecting our investors’ wealth; honesty and integrity in our dealings, transparency to our investors and partners, and a sense of commitment to the people and communities in which we invest.

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Overview

Auerbach Funds is a privately held real estate investment firm that seeks to provide investors with consistent risk adjusted returns. We follow an opportunistic strategy that invests in distressed, deep value-add investments in both primary and secondary markets throughout the United States.
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Operating Partners

Auerbach Funds operating investment structure, direct expertise and readily available capital provides a substantial advantage on the ability to “win” transactions. Sponsors appreciate our transactional and management experience, which has lead us to be a trusted and sought after partner.

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Portfolio

Fund I and Fund II holdings represent over $273.7 million of total property value at initial capitalization; over 3.3 million square feet of rentable space; over 2,400 residential units across 8 states. Auerbach Funds invests in assets across markets that have high population growth, infrastructure spending, pricing disparity, growth at much faster rates than core markets in terms of population, infrastructure spending, and job creation.

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“At our 10-year anniversary, I reflected back ‘Have we achieved what we set out to achieve?’ Having this narrow market focus allows us to go a mile deep. Understanding the nuances of each micro-market is key – from special zoning overlays to tenant preferences in an ever-evolving environment – our depth has helped us avoid pitfalls as well as create opportunities.”

- Jeff Kaplan, Managing Partner

WHO WE ARE

Our Philosophy

  • Concentration on highly liquid markets as the cornerstone of the investment program – more durable through cycles and less volatile
  • Narrow market focus (primarily New York City and London) provides local knowledge, enhanced market intelligence, deep-rooted relationships, and unique sourcing advantage
  • Proactive sourcing with a granular approach of targeting individual assets, owners, and lenders to create investment opportunities in accordance with high conviction themes
  • Middle market specialty - $10 to $40 million target equity investment range - deal size is less competitive and creates a large investment universe

“Our granular business plans from the outset allow us to maximize value in a repositioning without over-improving the asset for the micro location. The best way to underwrite a new investment is based on our own experience with nearby assets we own or have owned in the past.”

- Tim Yantz, Founding Partner

WHO WE ARE

Meadow Investment Vehicles

Meadow leverages its knowledge, experience and investment style across the risk-return spectrum

Core/Core-Plus SMA's
Long-Term Growth and Income
Opportunistic Fund Series
Investment Vehicle(s)
Investment Vehicle(s)
Meadow NYC Core-Plus SMA
Meadow London Core-Plus SMA
Meadow NYC Core-Plus SMA
Meadow London Core-Plus SMA
Meadow NYC Core-Plus SMA
Meadow London Core-Plus SMA
Leverage Cap
Vehicle Structure
Investment Profile
Closed-end separately
managed accounts
50%
60% (70% for multifamily)
Perpetual-life, open-end fund
Trophy properties with minimal risk of obsolescence
‍
Minor repositioning, minimal
lease rollover

Low volatility, stable cashflow
75%
Closed-end commingled fund
Medium-term (3-5 years)
business plans - lease
rollover, renovation, etc.

Long-term (7+ term) value add,
including covered land plays

Repositioning and/or
moderate refurbishment with
sustainability focus

Existing cashflow provides
downside protection
Immediately actionable business
plans - lease rollover, vacancy,
etc.

Significant capital expenditure

Development, full repositioning
and/or lease-up

Cashflow volatility expected
Core/Core-Plus
Gotham Office Realty Partnership
Meadow London Core-Plus
Long-Term Growth and Income
Meadow Evergreen
Opportunistic Fund Series
Meadow Real Estate Fund VI

"Value is created in the details at the individual asset level...in the proper structuring of acquisitions, overseeing small details in the re-positioning and asset management, and ultimately in executing the disposition. Meadow's executive team is involved hands-on at each stage of every investment."
‍
- Andrew McDaniel, Founding Partner

Our Affiliates

Meadow Residential

Meadow Residential was formed in 2015 in joint venture with an experienced team of London residential development professionals to provide in-house execution of our residential business plans, including an in-house multi-family leasing and management team.

MP Living Ltd.

MP Living is Meadow Partners’ for-profit Registered Provider. In 2021, Meadow established MP Living and obtained regulatory approval from the Registrar for Social Housing, permitting the firm to purchase, hold, and manage all tenure types of U.K. housing, including regulated affordable and social housing.