SAN FRANCISCO–Matthew C. McCormick has been hired as senior vice president of The Roxborough Group LLC, a real estate private equity firm. A veteran real estate executive with vast experience in the institutional real estate investment business, McCormick is responsible for sourcing and managing investment opportunities across the West.
McCormick tells GlobeSt.com: "The Bay Area is a top targeted market for the Roxborough Group as it continues to outperform the vast majority of metropolitan areas in the US economic fundamentals remain strong with continued growth in employment, wages, home prices and consumer spending. All of these factors have contributed to rising rental rates across all products types over the last several years. With interest rates at historic lows and a significant amount capital looking for opportunities in the Bay Area, real estate values have risen considerably. As such, opportunities to capture outsized returns have become scarcer. At the Roxborough Group, we will continue to be prudent in our deployment of capital for new investments."
As senior vice president of acquisitions and capital markets group for Stockbridge Capital Group—a real estate investment firm with more than $8 billion in gross assets under management—McCormick co-led the firm's acquisition and capital market efforts for the West. Before that, McCormick was an associate director for Cushman & Wakefield's investment banking group in New York from 1999 to 2005.
"Likely targets will be investment opportunities that are shorter in duration or superior in quality and location that can withstand a market correction or slowdown. These investments may include properties that are underutilized, situations in which an owner is in need of liquidity, or assets that exhibit near term growth prospects," says McCormick. "To source these opportunities we will continue to rely on our relationships with local partners, brokerage firms, and landlords. In terms of targeted locations, we will continue to cover all submarkets to uncover investments that exhibit superior risk adjusted returns. In short, the Bay Area remains on the top of our list for targeted metro areas and will continue to do so for the foreseeable future."
The Roxborough Group invests in all real estate asset classes, including office, industrial, multifamily, retail, hospitality and resort. Roxborough Fund I's focus will be to provide flexible capital and operational know-how to reposition real estate assets and real estate-related operating companies to generate superior-risk adjusted returns to its investors.
“I'm delighted to have Matt join me in this senior role at Roxborough,” said managing partner Marc Perrin, who founded The Roxborough Group in 2013. “Matt brings tremendous energy and drive to the firm, and his previous success investing on behalf of Stockbridge Capital Group as well as his capital markets experience will be invaluable as he helps grow The Roxborough Group platform and team.”
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
