Tri-Capital Development, LLC, a limited liability company and real estate management firm sponsors investment programs that invest primarily in income producing real estate. The company was organized in May of 2002 specifically to purchase and revitalize, through improvements and renovations, multi-family residential properties that provide affordable housing for LMI families in the Boston metropolitan area.
Through the acquisition of multi-family properties that were poorly managed and maintained and under-capitalized, the Manager has developed an effective business model that centers upon efficient management practices and making necessary improvements and upgrades to stabilize the property.
These affirmative measures typically increase occupancy levels while preserving sorely needed affordable housing opportunities for those of limited means. Through this effort, affiliates of the Manager have directly contributed to the stabilization and revitalization of numerous housing units in LMI geographies in the Boston metropolitan area.
It is the intention of the Manager to build upon the demonstrated record of success of its affiliates by continuing to acquire multi-family properties and implementing a revitalization plan that addresses the specific management, physical condition and security needs of each property.
Through the implementation of its business model, the Fund intends to help stabilize and revitalize LMI geographies in the Boston metropolitan area, and provide affordable housing while earning a relatively high, risk-adjusted return on the capital provided.
Mr. Gregory T. Sydney has maintained a distinguished career as an engineer with several medical device companies, including Boston Scientific Corporation and the Becton Dickinson Company. He currently holds ten US patents and one Japanese patent. He received his Bachelor of Science from the University of Lowell and his Master of Business Administration (MBA) from Northeastern University. Mr. Sydney is an active member of the Finance Committee as well as a member of the Personnel Board for the town of Sharon, Massachusetts, where he currently resides.
Mr. Sydney founded G & E Realty Trust in 1998. He founded Tri-Capital Development, LLC and Pinnacle Capital Development 2002 and is Chairman & Chief Investment Officer for these entities. During Mr. Sydney's twenty years as a real estate investor, he has overseen the acquisition, financing renovation, refinancing, operations, property management and disposition of several commercial multi-family properties, primarily in the Boston metropolitan area. Over that period, Mr. Sydney's investments have appreciated in excess of 300% on average, for an annualized return of 20% per year, excluding tax benefits and annual cash distributions.