CS Capital Management, Inc. is frequently engaged by institutional investors or investment managers as an Independent Fiduciary to represent them in the acquisition, restructuring or sale of real estate assets. The need for an Independent Fiduciary most often arises when an investment manager has ongoing representation responsibility of both the acquiring and selling entity. The firm takes responsibility for independently determining value and negotiating the terms and conditions for asset transfers or restructuring, including their transfer among commonly managed entities.

Examples of assignments include:

• Separate account investors of a common manager retained CS Capital Management, Inc. to independently value 28 assets and negotiate terms and conditions for the contribution of the assets to a newly formed commingled fund of their existing manager.
• An investment manager engaged CS Capital Management, Inc. as the independent asset manager to act in a fiduciary capacity on behalf of its existing commingled fund for the acquisition of multiple investments from several of the managers’ separate account investors.
• An investment manager retained the firm to represent two of its closed-end commingled funds in the sale of jointly owned assets to separate account clients of the manager.

The following tombstones are representative of our transactional experience in this area.