Iron Point Partners, LLC, a real estate private equity firm focused on value-add and opportunistic real estate investments, today announced that Jay McLennan and Paul Patel have joined the firm as Partners. Mr. McLennan and Mr. Patel each bring decades of experience originating, underwriting, and managing real estate private equity investments across three continents, with a focus on special situations and distressed assets. They most recently served as Partners and Members of the Investment Committee of Kildare Partners, positions they held from the firm's inception in 2013 through July 2020.
"Jay and Paul are accomplished real estate investors with whom we share roots that trace back to their early roles as members of Brazos Fund, a real estate-focused investment firm sponsored by the Robert M. Bass family office," said Bill Janes, Managing Partner of Iron Point. "At Iron Point, our family office background and ongoing partnership with the Bass family continue to drive our active and creative investment approach, and we believe the addition of Jay and Paul – who share the same heritage – affirms our commitment to maintaining our culture at Iron Point while expanding the team, deepening our expertise, and investing in world-class resources. We further believe that augmenting the exceptional investing talent we have at Iron Point places the firm in an even stronger position to realize superior returns for our Limited Partners."
Tom Lynch, Managing Partner of Iron Point, added, "Jay and Paul's networks, capabilities, and expertise expand the range of attractive investment themes that we can pursue amid profound dislocation in the global real estate markets. They also bring a unique skillset and long track record of investing in distressed real estate and deep value situations across all markets and key geographies, including the U.S. and Europe. We are fortunate to add their complementary skillsets to our team as we pursue high-potential investments, including those generated by the challenges and structural changes occurring within certain real estate sectors."
"Dramatic and ongoing changes in today's real estate markets are creating significant opportunities for well-capitalized, disciplined, and established real estate investors," added Mr. McLennan and Mr. Patel. "Our expertise fits well with Iron Point's existing investing capabilities and the firm's collaborative culture, platform, and infrastructure. We are excited to join the great team at Iron Point – a natural and compelling next step for us – and to begin work on behalf of the firm's investors."
Both Mr. McLennan and Mr. Patel possess extensive experience in real estate and distressed debt investments. Early in their careers, they joined Brazos Fund, and later held a number of senior posts at Lone Star Funds where they made investments in the United States, Canada, Asia, and Europe, including President of Lone Star Asia-Pacific Ltd., with Mr. McLennan holding that title from 2002 to 2005, and Mr. Patel succeeding him.
In addition to serving as two of the three members of Kildare's Investment Committee, Mr. McLennan and Mr. Patel played critical roles in raising and successfully investing two funds totaling approximately $4 billion across Europe and the Nordics. Mr. McLennan served as the firm's President, with day-to-day responsibility for its acquisition arm, which invested in opportunistic real estate, special situations involving debt secured by commercial real estate, and a large public to private transaction of a real estate company in the Nordics. Mr. Patel's day-to-day responsibilities included portfolio management and disposition of Kildare's investments in the UK, Germany, the Netherlands, Scandinavia, Portugal, Italy, and Ireland. He also managed a team of approximately 100 professionals.
Mr. McLennan received his MS in real estate development from Columbia University in New York and his BBA from Southern Methodist University in Dallas.
Mr. Patel holds an MBA from the University of Chicago with a concentration in finance and marketing and a BA from Claremont McKenna College in California.
About Iron Point Partners (www.ironpointpartners.com)
Iron Point Partners is a real estate private equity firm with initial capital commitments totaling approximately $6 billion across funds managed by Iron Point and its affiliates. Employing a theme-based investment approach, Iron Point and its predecessors have invested in more than 85 transactions across commercial real estate property types including specialty real estate asset classes such as data centers, self-storage, healthcare related real estate, and affordable housing. The firm also invests in numerous distressed and other special situation opportunities. Prior to forming Iron Point in 2007, certain of the principals managed RMB Realty, Inc. and its successor Oak Hill Realty, LLC, real estate investment vehicles for the Robert M. Bass family office.
