September 12, 2007 -
Financial Digest
New York-based Hudson Realty Capital LLC (HRC) has acquired Questor, LLC, a real estate consulting firm providing due diligence and underwriting services to the real estate industry.
"I have been working with Questor for approximately 12 years and have always thought very highly of the company, its principals and the quality of service they provide," said David Loo, managing director and co-founder of HRC. "Questor has become HRC's exclusive provider of due diligence and underwriting services, and this acquisition is, therefore, a natural progression for our firm."
HRC is a real estate private equity firm currently with $800 million of assets under management. Since the formation of its initial two funds in 2002, the company has closed more than $1.2 billion in debt and equity transactions. Activities include originating, participating in, servicing, restructuring and/or acquiring high-yield, special situation debt and mezzanine loans, as well as investing directly in real estate and acquiring under-performing real estate assets and other real estate-related instruments.
The firm serves clients throughout the U.S. as well as select international investments in a range of asset types.
The acquisition is yet another indication of HRC's strategic growth and expansion. "Acquiring Questor helps us better achieve our goal of being expeditious, transparent and thorough in our due diligence and underwriting," noted Spencer Garfield, managing director of HRC. "By extension, we are better able to serve our clients."
Questor was founded in 1992 and has since been involved in underwriting real estate portfolios and single assets in excess of $30 billion. It has seven full-time employees based in Maine, as well as contractors all across the country.
Questor president and founder, Renee Lewis, notes, "Over the years, I have found the HRC principals to be among the best to work with. We have worked together for so long and have developed a similar approach to real estate and business, making this transition fluid and easy." Lewis now serves as a managing director and principal at HRC.
Both HRC and Questor are minority-owned businesses. HRC recently earned Minority Business Enterprise (MBE) status, reflecting a rich diversity within its leadership. Questor is a 100 percent Minority and Woman-Owned Business.