Delancey has backed a new company real estate investment advisory firm launched by David Boyle and Brad Beanblossom focused on small value-add property investments in the US, UK and Europe.
Headquartered in London and Chicago, NW1 Partners will pursue what it calls “high conviction investment opportunities”, working with local operating partners and small fund managers.
It will invest across all property types, focusing on consumer-driven sectors, including urban retail, last-mile logistics, parking and self-storage.
Delancey will provide strategic support through Jamie Ritblat, founder and chairman of Delancey, and Paul Goswell, its managing director, who will join NW1’s investment committee and board as non-executive directors.
Beanblossom spent 15 years with Sam Zell’s Equity International, most recently overseeing its investments team as senior vice president. During his time there, the company conducted one of the largest ever real estate transactions, the sale of Equity Office Properties in 2007 to Blackstone for $39bn.
Boyle was managing director, co-head and chief investment officer of Morgan Stanley’s Alternative Investment Partners arm, where he had been since 2008. They had worked together on a “programmatic joint venture” for one of Equity International’s portfolio companies in Brazil, GuardeAqui, which focused on the storage market.
Boyle said: “Throughout our careers, Brad and I have found small cap real estate investing to be particularly appealing. There is less competition, fragmented ownership, and the ability to apply institutional expertise to reposition assets where others don’t have the capability or capacity.
“We are very fortunate to have the strategic support of Jamie, Paul and the Delancey management team. I have enjoyed the good fortune of working closely with Delancey over the years, including investing together as partners. I view this as a natural continuation of our strong relationship.”
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