60 Guilders LLC?
Hey guys- anyone familiar with this shop? They are in the news today as they are slated to buy more NYC retail despite having bought two properties for $125 million over the last few years that remain vacant. Any insight into these guys would be greatly appreciated.
Hi Mandelbaum_Mandelbaum, whoops, looks like nobody chimed in here.... maybe one of these discussions below is relevant:
No promises, but maybe one of our professional members will share their wisdom: Jinyi-Liu acrawley @2tall4yall"
Fingers crossed that one of those helps you.
Curious what were the two vacant deals? From what I understand they have money behind them and are willing to risk it when others aren’t since the majority of the equity isn’t theirs and they’re generating fees for themselves and the funds/UHNW families behind them bear a majority of the equity risk. They’re smart guys but that seems to be the model, in both down and upside scenarios.
I think this is accurate. Probably not a lot of backend.
Honestly, given the nature of their portfolio, it's hard to imagine their making much money at all (mainly office and retail). Also worth noting that according to their website, they haven't actually bought or disposed of anything since 2019, and even then, most of their activity came in 2014-2017.
So without knowing the specifics of their business, it definitely gives the vibe of the guys who go off in the middle of an insane bull market, raise a bunch of money, invest aggressively because they have little risk, and then realize their investment strategy sucks when the music stops and suddenly they cannot make anything pencil, or their investors turn off the money spigot.
Great response, definitely something to consider. I found this recent article from 2022 seems to be a good sale. Would this change your thought process? The reason I ask is I’m in the middle of the interview process here for an Acqusitions opening so I obviously want to make sure they’ll survive and are active.
https://therealdeal.com/2022/01/05/asb-60-guilders-trade-sunset-park-wa…
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