Investments
We take an opportunistic, long term and constructive approach to investments across the capital structure. In many cases we have invested with trusted partners repeatedly and over multiple decades. We invest both on an internal direct basis as well as selectively allocating to outside managers.
We are generally interested in real businesses with proven returns on capital and do not invest in early stage venture or high technology. We view technology as a means to an end (to make a company or investment more efficient or more customer friendly). We relish distressed situations, uncertainty and complexity if worth the effort. We are creative and positive partners. Likewise, character and integrity is essential to us.
We’ve invested in an extremely wide range of asset classes, financial structures and geographies over time; below is a limited selection of some recent investments.
Strategic Partnerships:
IngleSea has established a number of strategic partnerships. Through these partnerships Inglesea brings its significant expertise and ability to deploy capital into unique & value added investment opportunities. IngleSea works closely with its partners to help formulate overall strategic direction and evaluate prospective investments. Inglesea often serves as a strategic or seed investor and is perceived as a constructive resource given the experience and perspective its principals can bring to the table.
Algonquin Hotels Europe (founded in 1998): Algonquin is a hotel private equity firm that invests its own capital and established a separate management company. The group’s portfolio currently consists of 43 assets within Europe, comprising more than 7,500 hotel rooms and representing €1.8bn of assets. Half of these hotels are managed through Algonquin’s own brands or internationally renowned franchises while the other half is operated under management agreements, leases or managed lease agreements by major international operators. IngleSea was a founding investor in Algonquin and continues to be an investor and trusted advisor of Algonquin.
Boyne Capital Partners LLC based in Miami, Florida focuses on making control investments in lower middle market companies with opportunity for significant growth. Inglesea serves as a member of the Advisory board of Boyne Capital.
Jadian Capital LLC is a real estate investment firm, targeting opportunities throughout the capital structures of real estate-related assets and companies. Jadian seeks real estate opportunities wherever they may be found, including in non-real estate sectors or businesses. Areas overlooked by traditional investors are often fertile ground for Jadian’s opportunistic, value-oriented approach.
Kawa Capital Management is an independent asset manager with a broad product platform. Kawa Products include a flagship credit hedge fund, club deals, and commercial and industrial real estate. IngleSea was an early investor in the Kawa flagship fund, and serves as an advisor to Kawa and its principles. In addition IngleSea is an anchor investor in many of Kawa’s club deals. Kawa is based in Aventura Florida.
Market Street Real Estate Partners (MSREP) is a privately-held real estate investment and management company headquartered in Miami, Florida with projects across the country. Collectively, the managing members of MSREP have more than 50 years of experience in commercial and residential real estate. Their experience includes real estate investment, property repositioning, ground-up development, cost-efficient property management and asset management.
Tensile Capital Management employs an opportunistic and private equity approach to investing in the public markets. Managing a concentrated portfolio, working closely with management teams to enhance shareholder value, and investing with a long-term time horizon, Tensile seeks to generate superior risk-adjusted, after-tax returns while maintaining a margin of safety against permanent capital impairment. Tensile also makes select private equity investments.
Real Estate Investments:
Inglesea and its principals have actively been investing in real estate for the past 20 years. We have taken a top down approach by identifying markets with strong demographic trends. We seek out opportunities within our target markets where an asset can be repositioned with value added investment.
Novotel
Liverpool, England
This 209 room hotel was constructed in 2009 and flagged as a Novotel. The property was acquired in the first quarter of 2014 and sold in October of 2017.
First Trust Center
Louisville, KY
This 112,412 square foot historic office building is located in downtown Louisville. The property was acquired in the first quarter of 2017 and is currently undergoing a substantial repositioning program.
1680 Meridian Avenue
Miami Beach, FL
This property is a 54,471 square foot mixed-use building located in Miami Beach, FL next to the world famous Lincoln Road. The building underwent a comprehensive repositioning program and is now fully leased.
400 Lafayette
New Orleans, LA
This 48,615 square foot historic office building is located in New Orleans Historic Warehouse District. The Warehouse District has been transitioning with an influx of residential and hotel construction. It has become a sought-after location with a shortage of updated office space. The property was acquired at year-end 2016, is currently undergoing a comprehensive construction and repositioning program including the addition of ground floor restaurant tenants. We expect to complete construction in early 2018 at which point the office space will be marketed to tenants looking for a fresh concept.
405 14th Street
Oakland, CA
This 80,556 square foot historic office building is located in downtown Oakland. The property was 93% leased with a weighted average lease term of approximately 1.5 years and average rents 45% below market. The building is currently undergoing a substantial repositioning program.
The Commons at Jack London Square
Oakland, CA
The property, known as The Commons at Jack London Square, consists of three 3-story office buildings totaling 43,033 square feet located in the Jackson Square area of Oakland, CA. At the time of purchase, the property was 86% occupied with rents approximately 30% below market rates. The building underwent a comprehensive repositioning program.
1440 Broadway
Oakland, CA
This 72,977 square foot historic office building in located in downtown Oakland, CA. At the time of purchase, the property was 89% occupied with rents approximately 30% below market rates. The building is currently undergoing a substantial repositioning program.
Explorers Hotel
DisneyLand Paris
Prominently situated in close proximity to Disneyland® Paris, the Explorers Hotel features 390 guestrooms, two restaurants, three ‘grab & go’ style stores, a bar and four meeting/ banquet rooms. Disneyland® Paris is by far the most popular theme park in Europe, with over 275 million visitors since its opening in 1992. The hotel recently underwent a comprehensive €4.5m renovation to position the hotel as the only adventure themed Disneyland® Partner hotels in the area.
72 Pine Street
Providence, RI
This property is a 39,776 square foot single 5-story office building in Providence, RI. The property was 100% leased at the time of acquisition.
755 Sansome Street
San Francisco, CA
This 57,057 square foot historic office building is located in San Francisco’s Jackson Square / North Waterfront area, situated along San Francisco’s waterfront. At the time of purchase, the property was 89% occupied with rents approximately 30% below market rates. Several of the tenant floors were gut-renovated.
604 Mission Street
San Francisco, CA
This 26,790 square foot historic office building is located in the heart of San Francisco’s South Financial District. At the time of purchase, the property was 66% occupied with rents well below market rates. The building underwent a comprehensive repositioning program.
143 Second Street
San Francisco, CA
This 19,449 square foot office building is located in the South Financial District. The building consists of five stories and a fully built lower level. Situated adjacent to the Trans Bay Terminal Project, this property was opportunistically purchased and renovated. The property was sold in March 2015.
140 Second Street
San Francisco, CA
This 37,089 square-foot office building is located in the South Financial District of San Francisco, directly across the street from the currently under-construction TransBay Terminal project. The property consists of six stories and a fully built lower level and had in-place base rental rates approximately 30% below market at the time of acquisition.
7800 Red Road
South Miami, FL
This 57,457 square foot single 3-story office building is located in South Miami, FL near Sunset Place and Dadeland. The building is undergoing a comprehensive repositioning program.
Private Equity:
We invest in a unique group of private companies through direct investments and limited partnerships. We strive to invest in companies that are socially and environmentally progressive.
B&W; Quality Growers www.bwqualitygrowers.com is a leading US grower, packer and shipper of distinctive tender leaf salad greens to markets throughout North America and the United Kingdom.
B&W; is headquartered in Florida.
EnviroStar, Inc. is a distributor of commercial, industrial, and vended laundry products and industrial boilers, including related parts and supplies. Through its subsidiaries, EVI sells its products and provides installation and maintenance services to thousands of customers across the United States, Canada, the Caribbean, and Latin America.
EnviroStar is headquartered in Florida.
Ventana Exploration and Production
Ventana Exploration and Production LLC ("VEP") was founded in 2015 as an independent oil and natural gas company. The VEP management team is led by Jack Rawdon, President, CEO and Founder with 35+ years of industry experience. Ventana is a private exploration and production company formed to pursue the acquisition and development of long-life producing oil and gas assets in North America with a specific focus on growth opportunities via new and ever-changing technology.
Deep Value & Distressed Investments:
IngleSea and its principals have significant experience investing in distressed debt and corporate reorganizations. It is our objective to opportunistically invest across the capital structure of distressed companies with the goal of buying good businesses that right-size their debt load as they undergo a corporate reorganization.