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New Companies Target Niche Markets

NEW YORK CITY-Maybe it's a sign that better things are on the way as a number of new ventures are formed to target specific market groups.

By Barbara Jarvie | Updated on March 20, 2004

NEW YORK CITY-The entrepreneurial spirit is apparently alive and well here as a number of new ventures have been launched that hope to capitalize on niche markets. First off, Jeffrey M. Granowitz, former principal at the Praedium Group, forms the boutique Artisan Realty Capital. And Daren W. Hornig adds Quest Commercial to complement his middle market residential side, Dwelling Quest.

Artisan, which was established to invest in value add debt and equity investments in select markets along the East Coast and Midwest, plans to use strategic alliances to originate less widely marketed transactions and will offer flexible investment structures based on risk and complexity, explains Granowitz, who serves as managing director.

Granowitz formed Artisan along with director David J. Domm, who worked with him at Praedium. Over the past 15 years, the pair managed the investment, financing, management and disposition of more than $1 billion in real estate assets throughout the US and Canada. Explaining the company’s focus, Domm says, “There is currently too much equity capital chasing the same opportunities and there is less capital targeting complex and less obvious situations. Our strategic platform, structuring experience and relationships position us to source transactions that aren’t efficiently accessed by the broader capital markets.”

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