As part of the new venture, Graiser explained that the company will focus on assessment, valuation, disposition and lease renegotiation, but the new platform will also enable A&G to run the gamut of practices, including retail, real estate investments, office, industrial and auction services.

In investing in retail, restaurants and warehouses and purchasing commercial mortgages, Graiser said the firm will evaluate all aspects of the transaction, with a focus on adding value to the overall portfolio. “We are going to be making real estate acquisitions and strategic loans, and what I mean by strategic is that we are not going to be looking at a loan and taking the entire facility,” he said. “We want more of the riskier part of the loan,” explaining that it will add liquidity to the developer or to the borrower. “We want to add our expertise to stabilize a troubled situation and get the most value out of a piece of real estate where we do it on our own, or also partnering with the local developer or landlord.”

A&G will also specialize in the concept of “patient” capital. Similar to the way a private equity firm works, the company will give each investment the time it needs to improve performance. “Our patient capital comes in where we want to look at a situation and we want to go long,” he said. “We basically can be in a situation for two years, three years or five years depending on what the opportunity is. If we like a piece of property and we want to own it on our account, we can be in there for five or seven years. If we wan to buy a mortgage to solve a problem for a retailer, we can buy a mortgage and be out there for a couple of years. If we want to invest in the company because we like the real estate, we can do that knowing that we have to be there for a while. If we get involved with a real estate restructuring opportunity, then we have to put our capital in there to stabilize the situation after being there for a long period of time.”

Focusing on well-located secondary markets, Graiser said A&G is actively looking for strategic opportunities, not just distress. “It is not only troubled situations,” he said, noting that many properties that were acquired in 2006-2008 might be overvalued. “It could be a good asset, but it may need some liquidity, and that’s where we come in.”