Anyone Familiar with Leon Capital Group?
Is anyone familiar with Leon Capital Group? Seems like they have a strong presence in multifamily. I’d be interested to hear their reputation.
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I know someone that lends to them, they're they are legit. (Sorry that's not much to go on, but figured I'd reply since no one else has yet.)
I’ll second that they’re legit. They’ve done pretty well in the multifamily space this cycle, but don’t seem like they’ve gotten too big too quickly.
I looked at a bunch of their deals last year when I was in acquistions. They came to us for both equity and mezz/pref. They had a few deals that were home runs and a few others that were complete dogs. I think they grew too quickly and this is where the dogs I am seeing stem from. One deal appeared pretty much underwater and it hadn't even broken ground yet, however it was a newer market for them outside of their TX / SE core business. With the amount of projects they have going on, I'd say this is expected, and overall they are definitely legit and have a strong track record. I have some concerns about how they will weather the storm though when the market inevitably turns for some of their deals.
anyone have any background on Fernando De Leon? seems like a pretty legit shop that he just got up and running on his own
Tapped into very favorable HNW mexican money.
The kind of money where if you don’t hit a 13% IRR you end up hanging from a bridge in Juarez?
Just hired a strong acq guy. Likely a sign of things to come.
They just fired the act guy just laid off 50%. Did a bunch of garbage retail and single family.
They just laid off 59% of their staff. Grew to fast, over levered, hired poorly, and overall took too much risk. Heavy in retail which is the most oblivious asset class to avoid and single family. Lost a ton of money recently.
Did a few deals with them back in the day. At the time, they seemed to buy up a lot of retail/land in periphery cities bordering primary markets. I can't imagine that strategy will pay off once the dust settles.
I’m familiar with... maybe someone will correct me here but I think they have a ton of single tenant food retail assets. I remember one of their execs telling me they have over 200 assets??? I just remember thinking what the hell type of AM / portfolio mgmt they could possibly be running with that many projects and only a handful of asset managers.
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