T-Rex Capital Group (“T-Rex”) was founded by Thomas M. Mulroy. The T-Rex investment program has sourced and invested in transactions, on a proprietary basis, encompassing over 11 million square feet with a gross asset value of over $2.5 billion. T-Rex was early-in and early-out of the cycle for telecommunications and co-location assets, completing its proprietary acquisition program in June 2000. Both a savvy view of the changing dynamics of the marketplace and speed of execution are hallmarks of the T-Rex investment philosophy. T-Rex maintains it’s results-oriented, not fee driven approach and it is structured as a “cradle-to-grave” platform.
Additional T-Rex principals include investment, asset management, and financial professionals with extensive experience in real estate, capital markets, and banking areas. T-Rex’s extensive relationships throughout the country and the industry allow it to be scalable on a plug and play basis depending on the circumstances. The senior management of T-Rex averages over 25 years of real estate related experience. It is through the experience and expertise of the Principals and the Management Team that superior risk-adjusted returns are created for each investment.
The following are indicative of the T-Rex investment approach:
- Institutional investment opportunities are sourced on a proprietary basis that result from relationships in the marketplace with lenders and other capital sources. Non-competitive situations are sought for all investments;
- Unique situations, complex capital structures, intensive senior management requirements, and tax-advantaged re-structurings all represent areas of opportunity for the T-Rex investment program;
- Pre-acquisition diligence is undertaken on two parallel courses. The highest standards of physical and financial diligence are applied to the investment as it currently exists. Simultaneously, the investment team pursues a course of diligence designed to improve upon the existing economics of the transaction prior to purchase. Such activities include negotiating lease extensions or buy-outs, amending leases, aligning disparate ownership interests, obtaining improved zoning/densities from local jurisdiction, negotiating reduced off-site requirements, pre-selling out-parcels and other basis-reducing transactions;
- Investment/asset management begins at the property management level. T-Rex utilizes its wholly-owned property management subsidiary or enters into a venture with an established operating partner whose interests are fully aligned. Asset management is viewed as a critical element of investment return and is engaged in each transaction during the due diligence phase;
- A well-defined exit strategy is established prior to investment. Depending upon the nature of the investment, several alternatives for exit may be managed toward. The flexibility to exit an investment under varying circumstances and market conditions is a keystone of the T-Rex investment approach. All disciplines (property management, asset management, financial management) execute during the hold period toward a multiple-exit situation to provide superior returns.
Meet the Bellefield at Historic Hyde Park Team:
Chairman and Chief Executive Officer,
T-Rex Capital Group, LLC
Mr. Mulroy is a co-founder and serves as the Chief Executive Officer of T-Rex Capital Group, LLC. Mr. Mulroy has acquired and invested in over 7 million square feet in the United States since T-Rex’s inception in 1999 including over 1,000 multifamily units and has been involved in two public offerings. Prior to founding T-Rex, Mr. Mulroy was Senior Vice President of Investments at Starwood Financial, Inc. (iStar NYSE: SFI) where his responsibilities included origination, structuring, and financially engineering investments in leveraged commercial real estate transactions.
Mr. Mulroy joined Starwood after serving as Senior Vice President at Lazard Frères & Co. where he was involved in the origination and structuring of investments in real estate acquisitions and financings. Prior to joining Lazard, he was at the Chase Manhattan Bank (currently J.P. Morgan Chase) where Mr. Mulroy was in charge of workouts and restructuring the bank’s portfolio of real estate foreclosures and bankruptcies in various stages.
Mr. Mulroy previously worked for Citicorp Investment Bank and KPMG Peat Marwick where he received his CPA. Mr. Mulroy is a member of: The Villanova University Board of Trustees, The Villanova Real Estate Advisory Council, The Andrew Cuomo Executive Finance Committee, The New York State Governors Tourism Advisory Council, Hudson Valley Economic Development Council, The Mitt Romney National Finance Committee.
Mr. Mulroy has been a guest speaker at The NYU Real Estate School, the Villanova University Real Estate Center, and on numerous panels in the fields of risk analysis of mezzanine investments, leveraged debt investing, the telecommunications real estate industry and distressed real estate investing. Mr. Mulroy received a B.S. in Accounting/Computer Science from Villanova University, and an MBA in finance from New York University Stern School of Business.
Partner – Risk Management,
T-Rex Capital Group, LLC
Mr. Pelletier serves as Managing Director – Risk Management at T-Rex Capital Group where he is responsible for investment origination and financial structuring of new real estate investments as well as the operational oversight and disposition efforts of its existing investments. Mr. Pelletier has served in a senior management capacity with T-Rex since 2001. Mr. Pelletier brings 27 years of combined financial and asset management real estate experience to T-Rex. Mr. Pelletier holds an M.S. in Finance and B.S. in Accountancy and is a member of the Greater Boston Real Estate Board and an affiliate of the CCIM and the Appraisal Institutes.
Bellefield Development Partners, LLC
(an affiliate of T-Rex Capital Group, LLC)
Mr. Oates is the former CEO of Hudson River Ventures, a small business investment fund focused on Food & Beverage, Tourism, Hospitality, 3D Printing and Innovative Technology with investment projects located in the Hudson Valley. In his new role with Bellefield Development Partners, Oates will be responsible for overseeing and managing tenant real estate needs, handling government relations, and marketing Bellefield as the premier designation for culinary companies looking to grow their businesses.
Bellefield Development Partners, LLC
(an affiliate of T-Rex Capital Group, LLC)
Mr. Gaudio was the Managing Partner of the team that secured zoning and concept approvals (SEQRA) for the Bellefield project in Hyde Park, NY. For the past three years working with T-Rex Capital Group on designing the Phase 1 site plan which will include a boutique and limited service hotel, spa, conference center, market square with food related retail and restaurants and a residential community. In 1998 started a development company with a focus on adaptive reuse of industrial properties throughout Fairfield County, CT. Prior to starting his company managed a private real estate fund on behalf of institutional clients for State Street Research with total assets in excess of one billion dollars.
Chairman of the Executive Board,
Hotel Development Partners, LLC
Mr. McCarthy has served as the Chief Operations Officer of Marriott International, Inc. from March 31, 2012 to February 2014. Mr. McCarthy also has served as the Group President of The Americas and Global Lodging Services of Marriott International, Inc., the President of North American Lodging Operations at Marriott International Inc. and as its President of Global Brand Management. Mr. McCarthy had previously held many other Senior Leadership positions of increasing responsibility within the Marriott organization. Mr. McCarthy has been Chairman of the Executive Board of Hotel Development Partners, LLC since September 2014.
CMS Architecture and Design
CMS Architecture & Design, PC. is a full service Architectural and Interior Design firm specializing in Hospitality and Restaurant design founded in 1993 by Christopher Smith. Mr. Smith is a registered architect in the states of Florida and New York and his company has worked throughout the United States, the Caribbean and Japan on many residential, hospitality, restaurant and entertainment projects. A graduate of Syracuse University, Mr. Smith entered the field as a residential designer with his partner, furniture designer Kevin Walz. Several years later he entered the Rockwell Group as a Designer and Project Manager. During his time at Rockwell Group, Mr. Smith lead as Design Director, a boutique studio team of 4 designers and architects on notable projects such as Nobu, New York, and several Planet Hollywood restaurants.
Larry Boudreau, RLA, MBA,
Director of Land Development,
The Chazen Companies
Founded over 65 years ago, The Chazen Companies provide engineering, land surveying, environmental, planning and landscape architecture services. Mr. Boudreau serves as Chazen’s Director of Land Development Services. He has over 25 years’ experience as both a registered landscape architect and as a development manager for real estate development companies. Mr. Boudreau manages large scale land development project and is responsible for all aspects of project design and approval. He has extensive experience in land planning, project management, acquisition due diligence and business intelligence. His experience includes regional and community planning, commercial and institutional land use planning, golf course design, master planning, regulatory review and permitting.
Jennifer Van Tuyl,
Land Use & Zoning Attorney, Partner,
Cuddy & Feder, LLP Attorneys At Law
Jennifer is a Partner at the firm of Cuddy & Feder, and one of the firm’s three LEED ® AP attorneys. Jennifer has practiced land use law in the Mid-Hudson Valley for more than 25 years and co-manages the firm’s Hudson Valley office. She works with professional project teams on projects targeting high-performance energy and sustainability goals. Her clients include a broad range of applicants for land use and energy permits, including residential, commercial, and industrial developers, utilities, and non-profits, on whose behalf she regularly appears before Planning Boards, Town/City/Village Boards, Zoning Boards and other permitting boards and agencies. She lectures widely on land development and environmental issues and frequently participates as an instructor in training programs for local legislative, zoning, and planning board members.
Anthony R. Coscia, Partner,
James J. Thomas, Partner,
Windels Marx & Mittendorf, LLP
Windels Marx is a full service law firm headquartered in New York City, with offices in New Brunswick and Madison, New Jersey, and Stamford, Connecticut. The Firm has approximately 135 attorneys and provides services in more than 20 practice areas, the largest of which by volume of business are financial transactions, real estate, litigation, and bankruptcy. The Firm serves in excess of 8,000 domestic and foreign clients, including banks and finance companies, insurance companies, manufacturers, non-profit entities, and government sponsored enterprises. Industry benchmarking surveys such as The New York Law Journal’s “NYLJ 100: Largest Private Law Offices,” Best Lawyers, Best Law Firms, Forbes Legal Black Book, NJBiz’s “Top Law Firms in New Jersey,” SuperLawyers and many others have acknowledged our firm and lawyers for our practice size, depth and breadth.
President & CEO,
Focus Media, Inc.
Josh Sommers founded Focus Media, Inc. in 2002, now the most prominent advertising and public relations firm in the Hudson Valley (HV BIZ and PR WEEK). His firm is a multi-faceted communications organization specializing in marketing, business and sales strategy, advertising, public relations, crisis communications, market research, design, search engine marketing and web development. Sommers has assembled the most seasoned communications team in the history of the region, including award-winning marketing, public relations and digital professionals who previously held senior level roles at Fortune 500 companies.