The DI Wire Q&A with NorthStar Securities’ Tim Toole
December 29, 2017 | The DI Wire
The DI Wire sat down with NorthStar Securities president and CEO Tim Toole to discuss the company, his background in the alternative investment space, and sage advice for those considering a career in the financial services industry.
Can you briefly share a bit about your background within the commercial real estate industry?
I entered the alternative investment business and specifically, the real estate business, in 2002. I started with Deutsche Bank and one of its subsidiaries, RREEF, marketing a REIT IPO. I then joined Houston-based, Hines Real Estate Interests in 2003. This was my first foray in direct real estate with a best-in-class real estate organization. In 2009, I joined NorthStar Realty Finance and started the NorthStar Securities broker-dealer. Over those years, I was able to successfully build distribution organizations, position investments and raise roughly $10 billion in equity and approximately $20 billion in real estate assets.
What is unique about Northstar Securities’ investment approach?
Several things are unique about NorthStar’s approach, but NorthStar Securities is probably best known for creating the retail commercial real estate debt market/investment opportunity. As a broker-dealer, the organization was able to identify an unserved market segment, leverage in-house expertise and deliver excellent portfolios using CRE loans and other CRE debt investments. The offerings were designed to generate attractive income in a challenging income environment.
I have been using Blue Vault Partners for the past five years. I have found them to be a valuable, unbiased resource when it comes to evaluating and comparing non-traded REITs. The reports help me analyze which sponsors are doing a responsible job of managing their offerings. This allows me to limit my REIT recommendations to only the most competitive products, and then track those REITs throughout their life cycle.