Somera Increases East Coast Focus

WASHINGTON, DC-Somera Capital Management LLC, a Santa Barbara, CA-based private equity real estate investment firm, will be investing between $60 million to $80 million throughout the eastern seaboard for the remainder of the year. Much of the due diligence and other exploratory investment activities will be run from the company’s local office, which just opened this week.

Thomas P. Falatko has joined Somera as senior vice president to manage the DC office and expand the company’s investment activities in this market and throughout the east coast. Prior to joining Somera Capital Management, he was a managing director for six years with Madison Marquette, responsible for sourcing real estate deals in the southeastern US and Southern California.

Falatko tells GlobeSt.com that Somera will be concentrating on value add to opportunistic acquisitions in the hotel and office sectors. “We have also been successful in acquiring distressed retail estate and we will continue to focus on that strategy as well.”