Monday, February 3, 2014
Paul Gozzo works in Business Development for WRI Capital Group
Paul Gozzo of Jupiter, Florida has transitioned from his role in Acquisitions as an analyst to working in Business Development for WRI Capital Group. Paul has been investing in Real Estate since he graduated from Amherst College in 1998 and working in research since 2006. The move was a natural progression given Paul’s diverse background and institutional contacts coupled with the rapid growth occurring at WRI Capital Group. “Given my personal and professional experience to date, this move makes sense and I am thankful for the opportunity”, said Gozzo.
Paul Gozzo spends much of his time on the road between Tampa Bay, Orlando, and Jacksonville, Florida as well as other areas of the Southeastern United States stretching from Dallas, Texas to Charlotte, North Carolina. “I like to get out and see the assets we are looking to acquire, touch them, and get to know the people we will be working with potentially. It’s a fun space and an interesting time.”
WRI Capital Group provides a suite of services for institution level clients investing in the single-family asset class. Among Paul Gozzo’s roles will be to facilitate relationships with institutions, ranging from Private Equity Funds, to Hedge Funds, and Foreign Investment Groups, looking to enter or exit this space. The asset class itself, single family homes, is over two years old emerging as a new asset class to institutional investors offering upside to alternative investors and further proving itself each successive quarter. According to Gozzo, “It was just a question of time and the right cycle for the opportunity to present itself. The overpriced residential market along with overleveraged owners and the subsequent economic downturn, provided a perfect storm creating an abundance of supply offering an ideal opportunity for institutions to step in and acquire.”
But then what? If an institution weren’t specifically created to invest in this space, complete with the entire necessary infrastructure, how could they possibly allocate capital? According to PaulGozzo, “Depending on how nimble the investor , how much money he wanted to spend and in how many different markets, it becomes an incredible logistical challenge to execute. Even extremely experienced and smart institutional investors did not know how to get it done. Meanwhile bigger groups like American Homes 4 Rent, Blackstone’s Invitation Homes, and Colony’s Colony American Homes raised billions of dollars specifically for this space and built infrastructure to acquire, renovate, lease and manage. Other investors who wanted in, were shut out. Enter WRI, providing all of the services directly for the institution looking to play in this space. We were designed as single source solution for institutional investors”
When not one the road, Paul enjoys playing outside enjoying all that calling South Florida home has to offer, including fishing and golfing. Paul donates his time monthly to helping keep local beaches clean with The Friends of Jupiter Beach and when possible, he serves at St. Georges Soup Kitchen in Riviera Beach, Florida where he helps to prepare and serve a hot meal to over 200 people in need.