NEW YORK- A new investment group called the Patronis Group has been formed to provide private equity capital for hotels, senior living facilities and other real estate assets.
Anthony Niosi and Thomas McDaniel, (formerly of Citibank) together with FPL Real Estate Advisors and Greenstreet Partners L.P. created the entity. An initial commitment of $100 million from Greenstreet will get the group started on putting together a diversified real estate investment business.
Plans are to co-invest with operating partners in assets that will benefit from a value enhancement strategy. The group will focus on domestic transactions initially, and will look to expand overseas in future investments. (10/31/00)