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The Cheshire Group is a real estate investment company specializing in New York metro-area multifamily properties. Cheshire owns and operates rent regulated apartments, market rate rentals, and co-operatives and condominiums offered for sale. Cheshire is actively seeking investments in both distressed and value-added situations. Cheshire pioneered the coop "white knight" business, buying and restructuring over $50 million in underlying mortgages on ten co-ops totaling over 2000 units. Working with coops that found themselves unable to service their mortgage debt because of a sponsor default, Cheshire developed detailed marketing strategies for the properties, restoring the value of the apartments and refinancing the properties with conventional, institutional mortgages. The Cheshire Group has managed a series of funds in partnership with Sterling American Properties, targeting unsold shares in co–operative and condominium apartment complexes throughout the New York metropolitan area. Investing in positive cash flow apartment portfolios from long time owners, they acquired over 3000 units in 30 buildings, although most of the earliest acquisitions have been sold. Cheshire's capital partners have included The Baupost Group, Sterling American Properties, Ramius Capital Group, Enterprise Asset Management, and World-Wide Holdings. |
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| The Cheshire Group LLC 826 Broadway, 11th Floor phone 212.824.1190 New York, NY 10003 fax 212.824.1197 info@cheshirellc.com |