The Rockpoint Group (Rockpoint) is an American

private equity real estate Private equity real estate is a term used in investment finance to refer to a specific subset of the real estate investment asset class. Private equity real estate refers to one of the four quadrants of the real estate capital markets, which incl ...

firm headquartered in

Boston Boston is the capital and most populous city in the Commonwealth (U.S. state), Commonwealth of Massachusetts in the United States. The city serves as the cultural and Financial centre, financial center of New England, a region of the Northeas ...

. In 2022, the firm was ranked by PERE (under

Private Equity International ''Private Equity International'' (PEI) is a global insight, analysis and data provider for the private equity industry, with a core focus on the relationship between investors and fund managers: the LP- GP nexus. Launched in December 2001, the t ...

) as the twelfth largest Private Equity Real Estate firm based on total fundraising over the most recent five-year period.

Background

Rockpoint was founded in 2003 by Bill Walton, Greg Hartman, Jonathan Paul, Keith Gelb and Pat Fox. The five of them were previously managing members of Westbrook Real Estate Partners who left to found the firm. Westbrook Real Estate Partners was co-founded by Walton in 1994 and continued to be controlled by him and Gelb until 2014 where the firm closed. Currently only Walton and Gelb remain with Rockpoint. Paul left in 2007 to co-found Wheelock Street Capital, Hartman left in 2013 to co-found Prospect Hill and Fox retired from the firm. In March 2018,

Blackstone Inc. Blackstone Inc. is an American alternative investment management company based in New York City. It was founded in 1985 as a mergers and acquisitions firm by Peter Peterson and Stephen Schwarzman, who had previously worked together at Lehman ...

acquired a 20% stake in Rockpoint. In October 2020, Rockpoint formed a $1 billion joint venture with

Invitation Homes Invitation Homes Inc. is a public company traded on the New York Stock Exchange. It is headquartered in the Comerica Bank Tower in Dallas, Texas. Dallas B. Tanner is chief executive officer. As of 2017, the company was reportedly the largest own ...

to buy, renovate and rent out single-family homes across the U.S. In March 2022, they formed another joint venture worth $300 million to acquire higher-end single-family homes. In May 2022, Rockpoint formed a $2 billion industrial real estate platform with a wholly owned subsidiary of the

Abu Dhabi Investment Authority The Abu Dhabi Investment Authority (ADIA) is a sovereign wealth fund owned by the Emirate of Abu Dhabi in the United Arab Emirates, founded to invest funds on behalf of the Government of Abu Dhabi. It manages the emirate's excess oil reserves a ...

. Rockpoint is headquartered in Boston with additional offices in

Dallas Dallas () is a city in the U.S. state of Texas and the most populous city in the Dallas–Fort Worth metroplex, the List of Texas metropolitan areas, most populous metropolitan area in Texas and the Metropolitan statistical area, fourth-most ...

, London and San Francisco. Rockpoint has an affiliate named Rockhill Management which is a dedicated property services management company.

Investments

75 State Street 75 State Street is a high-rise office building located in the Financial District of Boston. Built in 1988, it was designed by Gund Architects of Boston, in association with Skidmore, Owings and Merrill, in the Postmodernist style. The 31-story ...

* 100 Pine Center *

100 Summer Street 100 Summer Street is a high-rise building located in downtown Boston, Massachusetts. The building stands at with 32 floors, over 1.03 million square feet (over 92,000 m2) of office space, and was completed in 1974. It is ranked 31st on the ...

299 Park Avenue 299 Park Avenue is an office building on Park Avenue between 48th and 49th streets in the Midtown neighborhood of Manhattan in New York City. History Designed in the International Style by Emery Roth & Sons, the building was opened in 1967. ...

1333 H Street 1333 H Street is a high-rise building in Northwest, Washington, D.C., Northwest Washington, D.C. The building rises 12 storey, floors and in height. History 1333 H Street contains two connected buildings; the older west tower and the more recen ...

Austin, Nichols and Company Warehouse The Austin, Nichols and Company Warehouse, also known as 184 Kent Avenue and Austin Nichols House, is a historic warehouse building on the East River between North 3rd and North 4th Streets in Williamsburg, Brooklyn, Williamsburg, Brooklyn, New ...

Boston Park Plaza The Hilton Boston Park Plaza is a historic hotel in Boston, Massachusetts, United States, opened on March 10, 1927. It was built by hotelier E.M. Statler as part of his Statler Hotels chain. A prototype of the grand American hotel, it was calle ...

* Embarcadero West *

One Dag Hammarskjöld Plaza One Dag Hammarskjöld Plaza is a skyscraper located at 885 Second Avenue in Midtown Manhattan, New York City. It is a tall skyscraper. It was designed by Emery Roth and developed by Lawrence Ruben. Named for Dag Hammarskjöld, it was complet ...

* Parc 55 San Francisco *

Park Avenue Plaza Park Avenue Plaza is an office building at 55 East 52nd Street (Manhattan), 52nd Street in the Midtown Manhattan neighborhood of New York City. The tall, 44-story building was designed by Skidmore, Owings & Merrill (SOM) for development company ...

* Parkmerced *

Rodin Studios The Rodin Studios, also known as 200 West 57th Street, is an office building at Seventh Avenue and 57th Street in Midtown Manhattan in New York City. It was designed by Cass Gilbert in the French Gothic style and built from 1916 to 1917. Nam ...

Row NYC Hotel Row NYC Hotel is a hotel at 700 Eighth Avenue, between 44th and 45th Streets, in the Midtown Manhattan neighborhood of New York City. The hotel is 27 stories tall with 1,331 rooms. Designed by Schwartz & Gross, with Herbert J. Krapp as consu ...

* Spring Creek Towers *

The Newbury Boston The Newbury Boston is a historic luxury hotel in Boston, Massachusetts. It opened in 1927 as The Ritz-Carlton Hotel. The property is a Boston landmark and anchors fashionable Newbury Street and the picturesque Boston Public Garden, located in t ...

Washington Harbour Washington Harbour is a Class-A mixed-use development at 3000 and 3050 K Street, N.W., in Washington, D.C., in the United States. The southern edge of the development borders the Potomac River on the Georgetown waterfront. Designed by Arthur C ...

Disputes

In November 2019, tenants of

63 Wall Street 63 Wall Street, originally the Wall and Hanover Building, is a 37-story skyscraper on Wall Street in the Financial District of Manhattan in New York City. Built in 1929, it was designed by Delano & Aldrich as the headquarters of Brown Brothers ...

and 67 Wall Street in

Manhattan Manhattan ( ) is the most densely populated and geographically smallest of the Boroughs of New York City, five boroughs of New York City. Coextensive with New York County, Manhattan is the County statistics of the United States#Smallest, larg ...

filed a

class-action lawsuit A class action is a form of lawsuit. Class Action may also refer to: * ''Class Action'' (film), 1991, starring Gene Hackman and Mary Elizabeth Mastrantonio * Class Action (band), a garage house band * "Class Action" (''Teenage Robot''), a 2002 e ...

against Rockpoint over alleged rent-regulation violations. Rockpoint was alleged to have failed to follow the 421-g program which allowed it to forgo property taxes but required it to offer rent-regulated leases. Rockpoint was considered to have overcharged above the lease limits while still benefiting from tax breaks. In September 2020, Rockpoint reached a settlement where it would pay out $5 million to 4,800 current and former tenants.

References

External links

* {{authority control 2003 establishments in Massachusetts Financial services companies established in 2003 Companies based in Boston Investment companies of the United States Real estate companies of the United States Real estate companies established in 2003