Thomas Ricci, Randall Scott and John Sischo — former executives from real estate investment firm Thomas Properties Group — along with Charles Toppino, founder and president of real estate investment management firm Oak Pass Capital, have formed a new real estate investment firm, Coretrust Capital Partners, Mr. Sischo confirmed.
The new firm will invest in value-added properties.
Mr. Toppino will continue to lead Oak Pass Capital while working with Coretrust. Mr. Toppino headed a team of investment executives who left real estate investment firm Square Mile Capital Management in 2011 to form Oak Pass. He was also a founding partner of Secured Capital Corp., a real estate investment bank he formed with former Drexel Burnham Lambert colleagues in 1990. Secured Capital merged with Eastdil Realty in 2006.
While at Thomas Properties, Messrs Ricci, Scott and Sischo managed more than $3 billion in institutional assets, including that of the $181.1 billion California State Teachers' Retirement System, West Sacramento. Thomas Properties Group was acquired by real estate investment trust Parkway Properties in December.