Proven, Cycle-Tested Investment Expertise

Mandalay provides investment advisory and management services to our funds and clients, which include private equity, financial institutions, family offices, and corporate investors.  Our principals have decades of experience spanning multiple cycles, and have built their track records not only during periods of economic growth but also during challenging times of recessions and crises.

Our Investment Approach

Mandalay's mission is to generate superior cycle-resistant returns.  We focus on markets where fundamentals are underpinned by healthy economic, corporate, and demographic growth.  Wherever possible, we seek to acquire high quality, well-located assets below replacement cost to mitigate downside risk.  Whether a core, core-plus, or value-add investment, we implement a proactive asset management strategy to unlock value and drive attractive returns.

Broad Capabilities

Our investment process is driven by data and proprietary research, but we are cognizant that market statistics are inherently historic and backward-looking.  To look ahead, we leverage our deep local knowledge and relationships to identify emerging trends before they show up in data reports. 

We systematically track industry reports, demographic statistics, and economic data to identify opportunities that meet our clients' requirements.  We have the capability and flexibility to shift between geographic locations, asset types, and investment strategies as risk-reward dynamics change through the real estate cycle.

Unique Deal Origination

Our ability to identify unique opportunities is a result of our team’s extensive experience and long-standing local relationships.  The Mandalay executives have built their careers and reputations over decades of working across finance, investment management, real estate, and law. 

Through our network with asset owners, brokerages, commercial lenders, investment banks, and institutional investors, we evaluate hundreds of assets per year, a significant proportion of which are off-market transactions that often offer superior investment opportunities.

Proactive Asset Management

We seek to generate superior returns as well as downside mitigation through the disciplined execution of a rigorous business and operational plan.  We proactively resolve operating inefficiencies, maximize net operating income through vigilant cost control, and closely manage operations teams.  Where appropriate, we upgrade assets through strategic and cost-effective physical renovations.  To drive market recognition, we reposition assets through a comprehensive rebranding strategy.

Disciplined Risk Management

We follow a strict fundamental approach to underwriting our investments. We utilize conservative assumptions, extensive scenario analyses, and thorough due diligence prior to the acquisition of an asset. We employ prudent leverage levels appropriate for the nature of the assets and the investment parameters of our clients, and ensure that our capital structure is carefully managed to maximize returns and control risk.