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I just saw a deal from these guys. Pretty interesting as Cadre is backed by the Kushners, some of Soros's funds, Vornado, Goldman, and a few other heavy hitters. The idea is to pitch deals specifically to very large family offices, HNW and UHNW individuals through their website. Not the most original idea, but I can see how they want it to work.
The problem was the first deal they pitched us was a pile of burning garbage (suburban office in a negative absorption submarket that needed a ton of capital for capex and TI/LC costs). The DD in the package was pretty suspect as well. It wasn't really the best first impression IMO.
Any insight on culture or comp for acquisitions analysts / associates? Know this is a dated thread but haven't seen anything relating to this.
As @picklemonkey mentioned, it's backed by some heavy hitters in the space, including the Kushner family. I haven't seen their deal flow, but suspect it's on par with (or likely better than) Fundrise and the like.
Shoot them an email, I'm sure they'd be happy to chat.
They are the sort of people who still chase deals that their former employers have already turned down. I understand they are trying to make a name for themselves, but their risk tolerance doesn't match the quality of funding.
They are a glorified equity syndication platform.
This is what I was thinking, exactly. Same model as realtymogul, crowdstreet, (to a lesser extent) fundrise. one difference is that they have a secondary market for their equity positions, though I haven't looked into that much.
They are trying to eliminate the double promote for investors. Mostly ex Blackstone and Goldman guys.
Bump. Would anyone invest with these guys (assuming you can clear the $100k minimum)? Seems like a solid avenue to get institutional exposure, quarterly distributions, and a fair fee structure relative to standard RE funds?
Like RE_Banker said, they are taking deals down with balance sheet and then syndicating to their investors. Lots of former Blackstone guys. Conceptually similar to the crowdfunding platforms but targeting investors that are more institutional.
they are pretty selective in terms of property and very tech focused from what i see and hear. Many engineers working over there
When I first heard about them I was quite intrigued and impressed. They recruited both top talent on the real estate and tech front, which historically has been quite difficult to do on both fronts. However, after learning more about their platform and operations, I soon came to the conclusion they will most likely not succeed. In the last few years, many of the early employees have left unsurprisingly.
Does anyone have any update in opinion after a year?
Actually been some headlines recently about some senior level defections. Don't know how much you can read into it but worth checking out.
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