Tricera Co-Founder Launches New Miami Real Estate Investment Firm
Seasoned real estate veteran Scott Sherman has officially launched Torose Equities, a Miami-based real estate investment firm with a value-add urban retail, office and mixed-use strategy targeting the Southeastern United States.
Torose will be Sherman’s newest venture after successfully launching Miami-based Tricera Capital in 2017 and growing the company to become a household name and key player in major Florida markets. In just five years, Sherman spearheaded the acquisition of 30+ commercial assets totaling $700 million and more than 2.5 million square feet.
Sherman brings with him the former investment arm of Tricera Capital to lead Torose. Ari Sasson serves as Torose’s Chief Financial Officer and Aaron Kay as Director of Acquisitions.
“We are excited to continue to build on the chemistry and momentum we established as a team over the past five years,” said Torose Founder & Principal Scott Sherman. “Our investment strategy at Torose will be familiar to our investment partners. Now more than ever before, Torose’s contrarian approach to real estate investment and development will benefit from the current economic environment.”
Similar to Sherman launching Tricera Capital during the height of the “retail apocalypse,” Torose’s founding team saw the perfect window of opportunity to start another investment firm focused on value-add opportunities amid rising interest rates and growing uncertainty in the real estate market. The team has wasted no time, with properties already under contract that are expected to close by the end of the year.
Some of the team’s most high-profile acquisitions in the past five years include the former Palm Beach Post site in West Palm Beach; Cube Wynwood office building; Offices at Atria in Downtown Sarasota; and a portfolio of properties in Downtown St. Petersburg. The team is also partnered on several notable mixed-use developments including The Dorsey in Wynwood in a JV with Related and Alex Karakhanian; and The Boulevard in a JV with 13th Floor Investments.
The Torose team will continue to target assets ranging from $10 million to over $100 million in core markets in the Southeastern U.S., including Miami, West Palm Beach, Fort Lauderdale, Tampa, St. Petersburg, Sarasota, Nashville, Raleigh-Durham, and Atlanta.
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