Kingbird Properties Rebrands to Kingbird Investment Management, Expands Investment Services, Appoints Director of Capital Markets
New Director of Capital Markets Lei Farrand brings 15 years of real estate capital markets and corporate development experience
BOSTON and NEW YORK, April 15, 2019
Kingbird Properties, the real estate subsidiary of Puerto Rico-based Grupo Ferré Rangel – a century-old, family-owned strategic investment holding company – has expanded its investment scope and is now Kingbird Investment Management. The firm has also announced the appointment of Lei Farrand to Director of Capital Markets, based in New York City.
“Our new name represents an important evolution of our real estate investment platform,” said Antonio Luis Ferré Rangel, Chairman and CEO, Kingbird Investment Management. “As a fourth-generation family office investor and partner with a fiduciary mindset, we are continuing to source, structure, and closely asset manage a strong pipeline of workforce apartment opportunities in secondary and tertiary markets, while mindfully constructing a diversified and balanced portfolio that generates compelling cash flow and creates long term value.”
Kingbird Investment Management invests at multiple levels of the capital structure to effectively mitigate risk, diversify risk/return profiles and capture upside potential. Kingbird also offers expertise with structuring, underwriting and asset management capabilities including investing in mezzanine debt, preferred equity, and general and limited partner positions.
“Lei’s combination of real estate capital markets, venture structuring and corporate development experience across property types and markets brings unique insight and unlocks new value for our select co-investment partners,” noted Kenneth Munkacy, Senior Managing Director, Kingbird Investment Management.
Lei Farrand brings more than 15 years of experience and has been directly involved in sourcing and structuring over $850 million in cross-border debt and equity financings across asset classes and the capital stack. Farrand will report to Munkacy in Kingbird’s Boston headquarters.
Farrand joins Kingbird Investment Management with a diverse investment and senior management background that includes The Walton Group of Companies, a privately held Canadian private equity investment company, The Vanguard Group, and the private real estate equity and credit group at Situs.
“I have been drawn to Kingbird’s institutional, market research-driven investment and partnership approach, proven value-add investment track record and expert portfolio management team,” said Farrand. “I look forward to the continued expansion of Kingbird’s platform via their disciplined methodology to deliver strong returns for Grupo Ferré Rangel and its family office co-investors.”
In the past year, Kingbird has diversified its portfolio to include LP and preferred equity investments in student housing and Class B and C multifamily assets in secondary and tertiary markets, as well as investments in general partner interests.
About Kingbird Investment Management
Kingbird Investment Management is the real estate subsidiary of Grupo Ferré Rangel, a century-old family office. Kingbird is focused on multifamily workforce apartments and student housing in growth-oriented secondary and tertiary markets in the U.S. and Latin America that generate sustainable cash flow and long-term value for investors. Kingbird deploys both its own capital and that of third-party family offices, other investors, and operating partners to capitalize on market inefficiencies in the workforce housing sector. Kingbird Investment Management is headquartered in Boston, Massachusetts. For more information, visit Kingbird.com.
About Grupo Ferré Rangel
Grupo Ferré Rangel (GFR) is a century-old Puerto Rico-based, family-owned strategic investment holding company. GFR owns and invests in a value growth portfolio of leading companies in real estate, media, customer engagement, and social innovations and startups in emerging industries. Guided by a commitment to entrepreneurship, Grupo Ferré Rangel pursues investment discipline, sustainable growth, value creation and social empowerment. For more information, visit GrupoFerreRangel.com.