The SF Capital, LLC venture is led by Atlanta-based residential real estate veterans Will Stolz and Jeff Freeman, who have a combined 60 years of residential brokerage, development, and condominium conversion experience. The current organization was formed in late 2007 to acquire developed and partially developed residential lots, houses, and condominiums at prices that are below replacement cost, but in response to rapidly changing market conditions, is drawing on its history to incorporate raw land development and condominium conversion opportunities. Participating partners Mark Eisenbeis and Phillip Galbreath bring 25 years of experience in database marketing, land acquisition, residential lending, and asset disposition to the venture.
SF Capital’s primary emphasis is placed on the greater Atlanta area with consideration given to selective southeast markets. Since the 2nd quarter of 2008, SF Capital has invested approximately $172MM, acquiring real estate notes and deeds through auctions, competitive bids, and negotiated purchases in 87 communities.
What We Do
One of the primary strengths of SF Capital is its ability to adapt to changing market conditions. The company used its extensive contacts in the banking and home building communities to acquire residential bank REO or delinquent notes during the Great Recession an resulting residential real estate crisis. SF Capital developed a strategy to acquire the assets at favorable prices and reset to values which immediately attract buyer and builder interest. Exit strategies are a strategic component of every acquisition for SF Capital. The majority of communities are acquired with a strategic builder in place at the time of closing.
While SF Capital continues to seek out distressed real estate investment positions, the market recovery and the absorption of desirable distressed assets have resulted in a degradation of bank-owned asset quality, resulting in less attractive investor ROI’s. In response, SF Capital identified an under-served need in the marketplace and has returned to its roots to develop raw land. As with its distressed asset business, SF Capital typically has a builder in place at the time of land acquisition.
SF Capital is also preparing for the future by taking an early mover position with condominium conversions in very select submarkets. The company is leveraging the success of its principals’ foray into the conversion business in the early 2000′s as a guide to acquire rental apartment complexes and renovate them as for-sale condominiums. Being early in the cycle allows SF Capital to operate with relatively little competition and the ability to establish a successful track record under today’s conditions, which will serve as a competitive advantage as more players enter the market.