Real estate investment veterans Erik Weinberg and Jackson Prentice have launched Montclif, a commercial real estate operator and investor specializing in middle-market value-add, opportunistic, and special situation investments across major East Coast and Sunbelt U.S. markets.
Weinberg spent the last 14 years at FCP®, where he was a partner and responsible for the firm’s commercial platform. He will continue to serve as a Senior Advisor to the firm on commercial investments. Prentice previously held executive-level positions at Carr Properties and MRP Realty, both DC-based development and operating firms, where he was responsible for the portfolio and asset management functions across the Mid-Atlantic, Boston, MA and Austin, TX.
Montclif will leverage its founder’s institutional experience as both capital partners and operating sponsors, having capitalized, repositioned and developed over $10 billion in institutional-grade real estate across 18 million square feet in 14 markets over 65 distinct investments during their collective investment careers.
“We’ve seen noticeable consolidation across the commercial real estate industry, as well as a thinning-out of the office investment landscape,” said Weinberg. “When those two forces hit at the same time, you get real dislocation. Fundamentals start to get overlooked, pricing resets sharply, and that creates a compelling opportunity to provide execution-driven value-add.”
Montclif has been intentional in its launch and re-entry into office investing and believes the sector bottomed about twelve months ago. However, given the nature of long-term leases and extended loan maturities, tens of millions of square feet of actionable real estate in its target markets have not yet faced an event-driven moment. “We believe many of those assets will ultimately land on the right side of this industry re-organization with the right execution, and we are well positioned to make that happen,” Weinberg added.
“Our collective experience ensures that every aspect of the business plan is handled with precision and speed, while maximizing asset value creation and returns for our investors,” Prentice said. He further added that “our
deep institutional pedigree, combined with our collective entrepreneurial spirit and industry relationships, uniquely positions us to capitalize on current market opportunities in the office sector.”
“We are excited to work with Montclif as they identify opportunities caused by sector dislocation and distressed situations. Erik’s and Jackson’s collective backgrounds offer a unique blend of investor and operator that provides a differentiated level of service,” said Alex Marshall, FCP’s Founding Partner and CIO.
FCP intends to continue evaluating new commercial opportunities and investments alongside Montclif, supporting the platform as it scales across its target markets. The relationship is expected to be mutually complementary, with Montclif’s deep commercial expertise and operating capabilities providing meaningful support to FCP’s mixed-use executions going forward.
For more information on Montclif, please visit montclif.com.
About FCP
FCP®, a subsidiary of Federated Hermes, Inc., is a privately held real estate investment company that has invested in or financed more than $14.8 billion in gross asset value since its founding in 1999. FCP invests directly and with operating partners in commercial and residential assets. The firm makes equity and structured investments in income-producing and development properties. Based in Chevy Chase, MD, FCP invests both its commingled, discretionary funds and separate accounts targeted at major real estate markets in the United States. For further information on FCP, please visit fcpdc.com.
