TriGate Capital and Suncrest Real Estate & Land form strategic partnership to develop single family lots

DALLAS, TEXAS –  Dallas-based TriGate Capital, a leading real estate investment manager focused on the recapitalization and repositioning of real estate assets and companies, acquired an ownership interest in Suncrest Real Estate and Land, a Phoenix-based residential master developer and investment manager. Suncrest is currently active in five markets: DFW, Phoenix, Nashville, Raleigh and Charlotte and is focused on “current cycle” investment and development opportunities in predictable growth markets located in the southern crest of the United States.

Founded and led by industry veterans Sean Cooney and Mike Koch, Suncrest saw a lack of residential lot development after the recession and began acquiring land in 2016. The company now has nine active projects and is managing the development of more than 4,000 lots. Suncrest today, through an established national network of real estate professionals, consultants, contractors, engineers and land owners provides its capital partners immediate access to highly coveted off market and exclusive land investment and development opportunities in key American markets. Suncrest principals and partners have collectively been involved in the acquisition of over 75,000 acres of strategically located land as well as the development and successful conveyance of approximately 25,000 developed lots to home builders in multiple markets across the country.

The transaction is synergistic for both Suncrest and TriGate. Suncrest will receive immediate access to both growth capital and company support from TriGate. At the same time, TriGate will receive a compelling foothold for single family development in markets that are undersupplied and in which TriGate is already an investor.

Adam Aultz, Vice President at TriGate said: “We are very excited to help both Mike and Sean with this new phase of Suncrest’s growth. We were attracted to their experience and strong leadership.  We look forward to growing the platform in markets TriGate knows well through other fund investments.”

Sean Cooney, Managing Partner at Suncrest stated: “The timing is right for this partnership given the scarcity of supply and our ability to source strategic positions that command home builder interest. Having TriGate as a partner we have the ability to accelerate our business plan in each of our markets.”

Mike Koch, Managing Partner at Suncrest stated: “Suncrest is particularly excited in partnering with such a highly reputable organization to address what we believe to be a unique opportunity in the residential master development space. We look forward to collaborating with the experienced team at TriGate and to grow the business for the benefit of all stakeholders.”

About TriGate Capital 

TriGate Capital, LLC (TriGate) is a leading real estate investment manager focused on the recapitalization and repositioning of real estate assets and companies.  TriGate is based in Dallas, TX and has completed investments throughout the United States.

TriGate manages three fully discretionary real estate funds, TriGate Property Partners, LP (Fund I), TriGate Property Partners II, LP (Fund II) and TriGate Property Partners III, L.P. (Fund III), which are the vehicles through which TriGate conducts its investment strategy. Fund I and Fund II are fully invested and Fund III is presently in its investment period.

TriGate’s team has been responsible for acquiring over $11 billion of real estate assets through multiple types of transaction structures.  The Company’s professionals have significant expertise in real estate operations, debt restructuring, and asset and company recapitalization.  Additionally, the team has extensive expertise in real estate asset selection and structuring transactions to weather different stages in the real estate investment cycle.