2023 Recap & 2024 Outlook

In 2023, Georgetown Partners successfully navigated a tumultuous market by continuing to make decisions grounded in our philosophy of maximizing returns on value-add investments both already under management and through acquisitions. After back-to-back years of doubling our AUM in 2021 and 2022, we took a more conservative approach in the first half of 2023 while we let the market sort itself out.

We sold one property in San Diego, CA, earning a high teens IRR for our investors after an 18-month hold. We made a defensive decision to monetize this investment by divesting early because we had a short-term variable rate bridge loan, our only asset with this structure. We foresaw that a Q4 2023 refinance event would be difficult and, although we still deeply believed in the potential of the business plan, we prioritized the preservation of our investors’ capital and elected to exit.

In 2024, Georgetown Partners looks forward to expanding our portfolio of investments by continuing to pursue:

• Traditional acquisitions of real estate assets as Sponsors
• Co-GP partnerships with expert regional partners
• Rescue or Structured Capital investments as capital allocators

Internally, we increased our staff by bringing on two individuals with diverse backgrounds in operations and marketing to assist with our continued growth, ensuring we will be able to scale without compromising our personal touch and commitment to investor relationships.

As a company, we will take a proactive approach to communication by launching new initiatives through email, social media and online channels in addition to composing and distributing ongoing thoughtful commentary about our perspective on the market.