Forum Absolute Capital Partners (“FACP”) is a privately owned, opportunistic real estate investment platform with a strong focus on the development and/or re-development of residential and commercial properties in New York City. FACP’s key principals have a broad range of historic real estate investment experience with a strong emphasis on development across real estate asset classes, and the company’s investment strategy is a reflection and extension of the principals’ passion and skill sets. FACP invests alongside qualified, best in class developers and participates in the development of the strategic and creative vision for the projects, while the developing partners handle day-to-day execution.
Founded in 2012, FACP has invested approximately $400 million of equity to date in seven development projects in New York City in partnership with four operating/developing partners. These projects include ground up residential condominium development, ground up retail and residential condominium development, and residential condominium conversion of existing assets. While FACP’s investments to date are clearly heavily weighted towards residential, this focus was market opportunity driven and not a consequence of rigid investment parameters. As a private company, FACP has the ability to invest in many different types of assets and the going forward investment strategy is largely driven by individual transaction opportunity.
Forum Properties was founded in 1992 by Andrey Barinsky and Vladimir Zubrilin. From the very beginning, company’s focus was on creating quality real estate and developing Class A office complexes and luxury residential apartments. Forum Properties has also focused on relocating industrial enterprises from the city center and recovering land to develop modern business centers.
Forum Properties was ranked eighth among the most successful and dynamic commercial real estate market players in Russia according to Forbes’s ratings. It is one of the most awarded developers in Moscow.
Forum Properties’ Clients
GE Money Bank
Titles awarded to Forum Properties
Building Awards 2009 (Best Class A Business Center over one year exploitation)
CRE Awards 2007 (Class A Business Center)
Building Awards 2007 (The Best Developers in Office Real Estate category)
ARX Awards 2007 (Grand-Prix for the Best Building of the Year, Winner in the Best Office Building Category)
Euromoney Awards 2006 (Best Developer in Russia)
CRE Awards 2005 (Personality of the Year)
CRE Awards 2004 (Developer of the Year, Business Centre of the Year Class A)
Since 2008, the founding partners of Forum Properties have also actively invested in real estate projects in the United Kingdom, Continental Europe and South Africa.
Absolute Investment Group
Absolute Investment Group was founded in 1990 and has since grown into a multi-dimensional investment group comprised of Absolute Realty (real estate), Absolute Trading House (wholesale electronics), Absolut Bank (finance) and a number of other businesses.
Absolut Bank, established in 1993, was one of the Group’s most successful projects, ranked #2 among fastest-growing CIS banks in 2006. In 2007, Absolute Bank was sold to Belgium’s KBC Group for more than $1 billion USD, valued at 3.8x price-to-book ratio.
Today, the Group’s main activity is the development of residential and commercial real estate in Moscow and the Moscow region.
Ranking according to RBC
2014 #1 Largest developer in the “New Moscow”
2013 #3 Largest real estate developer in Russia
2011 #2 Largest real estate developer in Russia
Group main figures in 2014
- More than 5,000 employees
- Land bank of more than 30,000 Ha
- 11.5 million sqm in residential real estate portfolio
- 1 million sqm in commercial real estate portfolio
- Group revenue of more than $3 billion USD
- More than 60,000 sqm of commercial real estate rented
- More than 445,000 sqm of residential real estate sold
- More than 7,700 apartments sold
The Group’s strategy focuses on long-term investments in undervalued assets. The Group’s key objective is the establishment and retention of a leading position in the real estate and investment market, capitalizing on its strong competitive advantages and systematic approach to project management.
In addition to its real estate development projects, Absolute Investment Group is active in commercial and residential real estate management. The Group also holds interests in telecommunication services, insurance, asset management, food and beverages and agricultural industries.
* RCAM, one of Forum Absolute Capital Partners Stockholders, also acts as the manager of Absolute Investment Group
Evgeny Borkin is a Managing Director of Forum Absolute Partners focusing on development, construction and program management & delivery of the company’s projects. Prior to joining FACP, Mr. Borkin worked as a Country Manager for Bovis Lend Lease as well as prominent development companies, Hals Development and Samolet Development. In these roles, Mr. Borkin developed a broad range of international experience developing residential, retail and hospitality projects in Russia, Ukraine and the United Kingdom.
Mr. Borkin holds a honors diploma from Pushkin High Military Engineering College.
Scott Hupe is a Managing Director of Forum Absolute Capital Partners, focused on the development and asset management of the firm’s New York City investments. Prior to Forum Absolute, Mr. Hupe was a Vice President at Tavros Holdings, assisting in the growth of its opportunistic real estate investment platform. In this role, his responsibilities included acquisitions, finance, asset management and development.
Prior to Tavros, Mr. Hupe spent 10 years working as a Director of ELK Investors, a family-owned real estate investment firm focused on multifamily, commercial and retail assets. At ELK, Mr. Hupe was responsible for acquisitions and development.
Mr. Hupe holds a Bachelor’s degree in Political Science from Yale University.
Brian Vetter is a Managing Director of Forum Absolute Capital Partners, focused on sourcing and structuring new investments and assisting in managing the firm’s portfolio. Prior to joining FACP, Mr. Vetter was a Vice President of the Carlyle Group’s U.S. Real Estate Funds, where he focused on opportunistic investments in the New York City market. During his time at Carlyle, Mr. Vetter assisted in the acquisition, financing, management, and disposition of more than $2.0 billion of residential and commercial transactions.
Prior to Carlyle, Mr. Vetter was an analyst in Bank of America’s Real Estate Gaming & Lodging Investment Banking Group, where he participated in over $10.0 billion in mergers & acquisitions and capital markets activity. Mr. Vetter holds Bachelor’s degrees in Economics and Political Science from Duke University, where he was a Benjamin N. Duke Scholar.