REE 6930 Extra Credit Lecture Form Your Name:___________ ___________________ Video Lecture:_________Frederick Scarola______________ Paragraph summary of the lecture: Frederick Scarola of Covenant Capital Group, a private equity firm that does value-add apartment housing, is lecturing about his business during a guest lecture spot at the University of Florida. His company puts together funds that finance the procurement and renovation of multiple apartment complexes located throughout the country for resale. He emphasizes that because everything is financed through these funds, he is really in the business of capital management as opposed to asset management. By specializing exclusively in multi-family, value-add apartments for the past thirty years, they have been much more successful than their competitors in raising institutional capital. Once they have raised the capital, Covenant Capital Group’s value-add strategy is to: • Acquire 1970’s to 2000’s well-located apartments that need a more intense focus
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Renovation, Home improvement, apartment housing