New York-based placement and advisory firm Farragut Capital has merged with Washington, DC-based Kalorama Realty Capital to form a new advisory group for real estate developers, owners and investment managers. The new group, called Allegro Advisors, will offer its clients real estate capital-raising services, including discretionary funds, separate accounts, equity joint ventures and debt.
According to the new firm's website, Allegro’s goal is to connect global real estate investment managers with capital partners in North America, Europe, the Middle East and Asia. Through its offices in New York, Chicago and Washington DC, the new firm will work with sponsors pursuing strategies supported by solid macroeconomic trends and real estate fundamentals.
Tom Boytinck, founder of Farragut and now co-founder of Allegro, said in a statement that the merger was driven by an “increase in the receptiveness of investors to new opportunities, and thus a need on our part to offer better coverage for our clients.”
Joining Boytinck on the Allegro team are Kalorama founders Brian Gill and Sam Glass. Farragut's Jonathan Glick, who launched Incubation Capital Partners, a specialty platform focusing on next-generation and emerging real estate investment managers, will continue to handle the new firm’s Chicago mandates.
Rounding out Allegro's enhanced capacities is a strategic alliance with MMI Advisors, a boutique firm led by Robert McSween, who previously headed up ING Realty Partners. That alliance is expected to offer opportunity fund expertise to the firm’s clients, as well as access to the corresponding investors.
Currently, Allegro is working with several US and Canadian sponsors, including Alex. Brown Realty, Adler Group, Hayman Woods and Hungerford Properties. In the coming months, the new firm expects to introduce new opportunities from Atlanta's Noble Hospitality, Catalyst Capital of London and Samsara Capital of Mumbai.