Akard Street Partners Capitalizes Newest Operating Company, Trinsic Residential Group

DALLAS, Jan. 9, 2012 /PRNewswire/ -- Dallas-based Akard Street Partners, an investment partnership operated by Hunt Realty Investments, capitalizes its newest real estate operating company, Trinsic Residential Group ("Trinsic Residential"). Trinsic Residential will develop institutional quality class A multifamily assets in infill and suburban locations, initially focusing on major Texas markets, with plans underway to expand to other strategic regions in which Trinsic partners hold expertise.

Trinsic Residential, based in Dallas, Texas is a newly formed, privately held real estate company created by a partnership of Brian Tusa, Joe Barrett, Silas Graham and Adam Brown.  "This seasoned management team has a highly successful development track record which includes numerous institutional capital relationships," said Patricia Gibson, president of Hunt Realty Investments. Collectively, senior management has developed or acquired approximately 19,000 units with a total capitalization of over $2.0 billion.

Mr. Tusa will focus on investment strategy at Trinsic Residential.  Most recently Tusa was the Managing Director for the North Texas region at Alliance Residential where he oversaw multifamily development/construction, acquisitions and dispositions. Previously, he was the Portfolio Manager for Alliance Investment Advisors. 

An experienced operations executive, Mr. Barrett, joins the partnership as COO and will oversee operations, asset management and will aid in sourcing new business opportunities. Mr. Barrett was previously COO for commercial real estate investments of Archon Group and oversaw office, retail and industrial building acquisitions as well as development/construction, asset management and disposition activities. Prior to that, Mr. Barrett was Managing Partner of North American Properties.

Mr. Graham will oversee development and acquisitions for the South Texas Region at Trinsic. Previously, Mr. Graham was Managing Director for the Southeast region at Alliance Residential. 

Mr. Brown joins the partnership as Managing Director, North Texas. Mr. Brown is responsible for sourcing new investments and managing the development/acquisition process throughout North Texas.  Prior to joining Trinsic Residential, Mr. Brown was with Greystar Real Estate Partners and Alliance Residential Company in similar capacities.

"Trinsic Residential Group anticipates the development of several projects annually. Suburban, high-end institutional, garden-style communities and high-density urban projects represent the product Trinsic will pursue. We will focus on areas of population and business growth where there is a need for additional multifamily homes. The product will contain high-end finishes and exceptional design features with a full complement of amenities. It is the intent to create 360 degree living environments relative to the location of the development," Mr. Tusa said. "We hope to expand this program nationally, leveraging Hunt's experience of growing operating platforms," added Ms. Gibson.

Trinsic Residential will seek LEED or other Green Building certifications and use best in class design and property management companies. Trinsic Residential will also engage in a "merchant build" strategy whereby the project is sold upon stabilization or nearing lease-up completion. Properties can be sold individually or as a portfolio. Trinsic Residential is actively seeking equity capital to leverage Akard Street Partners' current commitment. For more information contact Brian Tusa, Managing Director, by email [email protected], phone (214) 462-7190, or www.trinsicresidential.com.

About Hunt Realty Investments

Based in Dallas, Texas, Hunt Realty Investments, Inc. ("HRI") serves as the centralized real estate investment management resource for Hunt Consolidated, Inc., which is part of the Hunt family of companies directed by Ray L. Hunt.  HRI has been active in all facets of the real estate investment business for over 30 years and works to identify and invest in unique opportunities that differentiate themselves from the typical commodity investments available in all markets. HRI has been one of the few companies which has successfully created and nurtured a series of attractive and fully-integrated private real estate operating company investments.

About Akard Street Partners

Created in 2009 through the partnership of HRI and the Teacher Retirement System of Texas,   Akard Street Partners invests capital in select private real estate operating companies with the ability to create franchise value by positioning operators to efficiently scale portfolio and achieve superior risk-adjusted returns.  In 2010, Akard Street Partners capitalized California-based W3 Partners, a real estate operating platform which acquires and repositions west coast office and research/development properties. In 2011, Akard Street Partners capitalized Capital Health Holdings, a real estate operating platform focused on acquiring and developing private pay senior housing assets throughout the U.S., primarily assisted living and memory care facilities.

For more information on Hunt Realty Investments or Akard Street Partners, contact Clyde Robinson, Senior Vice President & Director of Capital Strategies, by email [email protected] or by phone (703) 761-7085.

SOURCE Hunt Realty Investments