O’Connor Capital Partners is a privately owned and independent real estate investment, development, and management firm.
Founded in 1983 by Jeremiah W. O’Connor, Jr., the firm has acquired or developed more than $25 billion of property on behalf of various investment funds, institutional clients, and its own account, encompassing all major property types. The firm is based in New York City, with regional offices in Palm Beach and Mexico City.
We strive to provide our institutional investors with access to multiple format retail properties as well as residential development and redevelopment. Within North America, our retail capacity is vertically integrated from acquisition to property management, utilizing our strong relationships and experience to create high performing investment opportunities. Our residential strategy focuses on the Northeast corridor, both urban and inner suburban transit- served locations for multifamily development and redevelopment.
As co-investor with our clients, we view each property as though we are buying it for ourselves. This long-term view is critical to our appreciation of – and equanimity throughout – the cyclicality of markets.
Jeremiah W. O’Connor, Jr. 1942 – 2010
Jeremiah W. O’Connor, Jr. began his career at Lazard Frèrès & Co. where, with their sponsorship, he helped found Corporate Property Investors (“CPI”), one of the first private REITs. As Chief Investment Officer, Jerry helped develop CPI into a leading real estate investment firm with a Class A investment portfolio of retail and office assets. Significant holdings included the General Motors Building in New York, Lenox Square Mall in Atlanta, and Roosevelt Field on Long Island.
Jerry started The O’Connor Group (now known as O’Connor Capital Partners) in 1983 and continued to focus much of his effort in the shopping center industry, investing in and developing many notable properties, among them The Westchester in White Plains, New York and Menlo Park Mall in Edison, New Jersey. From its beginnings as primarily a retail specialist, the firm expanded into the investment advisory and private equity real estate businesses.
Jerry was an early pioneer in the development of the regional mall business. He was a past president of the International Council of Shopping Centers. He enjoyed every detail of development including selecting the art for the properties. In Menlo Park, a sculpture with six children playing over a puddle serves as a memento of Jerry’s most important accomplishment, his children.
Jerry believed that “to whom much is given, much is expected” and as such was a generous supporter of numerous charities, among them: The Papal Foundation, Gregorian University, Catholic Relief Services, Partners in Health, and The Bronxville School Foundation. Jerry also served for many years as Chair of the Investment Committee of The College of the Holy Cross. After a Catholic Relief Services visit to Ethiopia, which moved and inspired him, Jerry devoted philanthropic efforts to building wells throughout that country.
Jerry was a graduate of the College of Holy Cross 1963, Harvard Business School 1967, and served as a Lieutenant (j.g.) in the U.S. Navy.
Since its inception, O’Connor has adhered to a firm set of principles which govern each investment. We believe that consistent investment values are critical to success in the ever-changing and increasingly competitive real estate private equity industry. The foundation of our investment philosophy is a focus on the quality of our investments as the primary driver of investment results.
O’Connor has a long history of successful partnerships and smart investments. The firm’s ongoing ability to leverage opportunity is evidenced by its historical growth and evolution.
O’Connor Capital Partners is one of the most respected privately held, independent real estate investment and management firms in the United States. The company was founded in 1983, and over the past 34 years has acquired or developed over $25 billion of property across the U.S., Europe and South America. O’Connor began as a high-quality regional mall developer and operator. During the 1980s, O’Connor developed over 10 million square feet of regional mall properties, including The Westchester in White Plains, and Menlo Park in Edison, New Jersey.
In the 1990s, O’Connor sold most of its shopping center holdings to focus primarily on principal investing through private equity funds.
In 1994, O’Connor entered into a relationship with J.P. Morgan Chase & Co. that resulted in joint sponsorship and management of four real estate private equity funds. Together, O’Connor and JP Morgan co-sponsored Argo Partnership, Argo Partnership II, Peabody International Real Estate Partners, and Peabody Global Real Estate Partners.
In 2002, O’Connor and JP Morgan mutually agreed to pursue their business initiatives independently and that any future funds would be raised and managed separately.
In 2003, O’Connor sponsored O’Connor North American Property Partners, L.P. and in 2007, sponsored O’Connor North American Property Partners II. Both ONA I and ONA II deployed a diversified opportunistic strategy, which included direct investments in office, industrial, retail, multifamily, lodging and mixed-use properties in the U.S.A. and Mexico.
In the past six years, and under the current management team, O’Connor Capital Partners has reverted to its core competency in the North American retail sector.
In 2010, O’Connor sponsored Open Air Vehicle I, the first of two fully discretionary single investor vehicles on behalf of a Sovereign Wealth Fund. These two vehicles acquired a total of 6 open-air retail properties between December 2010 and July 2012. Open Air Vehicle 1 was fully realized in September 2012. O’Connor continues to manage Open Air Vehicle 2.
In 2013, O’Connor created O’Connor Property Management to formalize its in-house retail operating expertise, providing leasing and management services for institutional partners.
From 2013 to 2017, acting on behalf of a number of Sovereign Wealth Fund/Pension Fund separate accounts, O’Connor entered into a series of regional mall and open-air portfolio joint ventures. O’Connor currently represents these clients on a total of 21 investments alongside listed REITs Westfield Group and Washington Prime Group.
In 2014, O’Connor developed The Crosslands in Orlando, FL., a grocery anchored power center that at the time of construction was the second largest retail development in the U.S. In April 2017, O’Connor commenced a second retail development in Orlando, FL., called Vineland Pointe.
From 2014 to 2016, acting on behalf of a U.S. State Pension Plan, O’Connor acquired 150/151 Worth Avenue in Palm Beach, FL. and The Shops at Canal Place in New Orleans, LA., two prime High Street retail properties.
In January 2016, O’Connor established a $250 million separate account with an institutional investor to develop and acquire retail property in Mexico. The separate account has thus far acquired three assets.
In December 2016, O’Connor acquired The Shops at Stonefield, a lifestyle center in Charlottesville, VA.