Joe Shanley has left SL Green to run a new investment company focused on ground leases.

Haven Capital is a joint venture of Regis Group and funds managed by the Real Estate Equity and Alternative Credit strategies of Ares Management Corporation.

JOE SHANLEY

Haven Capital aims to capitalize ground lease opportunities in most real estate sectors in the top 50 markets with an initial capacity in excess of $1.0 billion.

The company will target ground leases across all asset classes with a minimum $20 million transaction size.

Shanley, a former vice president at SL Green Realty managing equity and debt investments across the New York region, will lead the growth of the platform.

“Regis
has an established track record of identifying emerging opportunities in real
estate and building national platforms to offer solutions for the market,” said
Nick Gould, Chairman and Founder, Regis Group. “We believe ground leases
represent an attractive long-term funding source and we have formed Haven
Capital with Ares to provide flexible ground leases to meet the needs of real
estate owners across the United States.”

“We are
pleased to launch Haven Capital, which we believe will enhance Ares’ existing real
estate equity and debt investment capabilities,” said David Roth, Partner and
Head of U.S. Real Estate Equity in the Ares Real Estate Group. “In our view, ground
leases provide a compelling solution for both long-term property owners and
developers, and we look forward to building this platform alongside Regis.”

“The
formation of Haven Capital marks the entry of well-established institutional investors
into what we believe is a largely untapped sector for commercial property
investment,” added Shanley, Investment Director of Haven Capital. “Ground
leases are an underutilized tool that provides an alternative source of capital
for both existing assets and ground-up developments.”

Deutsche
Bank Securities Inc. acted as Financial Advisor to Regis on the formation of
Haven Capital.

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