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Deals & Dealmakers

Veteran investors launch Vanbarton Group

New York real estate investment veterans Gary Tischler and Richard Coles are breathing new life into an old firm.

The pair recently announced the launch of Vanbarton Group with a flurry of deals that included a $46 million mezzanine loan to JDS Development Group and the purchase of 31 Penn Plaza.

“Vanbarton Group seeks properties across the office, retail, and multifamily sectors, as well as some hospitality properties,” a spokesperson for the company said in an e-mail.

“Currently, Vanbarton Group is targeting office properties in NYC and San Francisco, and continually seeks opportunities in major markets across the country.”

Tischler and Coles have worked together for nearly two decades and were both managing principals at The Emmes Group of Companies until a recent spin-off that created Vanbarton.

The new company will specialize in an “integrated, tactical approach to debt and equity investing,” according to a press release from the company. They will also look to pursue opportunities in the debt/credit markets through the origination and acquisition of first mortgages, junior participations, mezzanine debt, preferred equity and securitized debt.

Vanbarton recently completed the conversion of a 500,000 s/f office building at 180 Water Street in the Financial District, which will now be a rental building with 565 units and 10,000 s/f of street-level retail.
Vanbarton Group owns and manages a combined debt and equity portfolio of 42 assets, spread across 16 states, in the multi-family, retail, office and hospitality sectors.

Last month, the firm signed a 51,000 s/f, 15-year lease with WeWork at the Square in LIC. The company also tapped Cushman & Wakefield to lease 45 West 45th Street where iut is in the midst of a $10 million redevelopment.

In addition to Tischler and Coles, the firm has a staff of 48, based in its NYC headquarters at SL Green’s Graybar building near Grand Central, and its San Francisco office.

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