Distressed & Opportunistic Real Estate Investors

About Machine Investment Group
About

Founded by former senior executives from Garrison Investment Group, Andy Kwon and Eric Rosenthal, Machine Investment Group is a real estate investment platform focused on opportunistic, distressed and special situations across the United States.

Machine invests primarily in the middle market, where our reputation for being a reliable counterparty, having a solutions-oriented approach and possessing extensive lender relationships distinguishes us from the competition.

Machine’s strict risk discipline, institutional operating processes and well-developed sourcing network has been cycle-tested and is designed to deliver consistent, opportunistic returns while minimizing losses.

≈50
Investments
≈$1.5B
Capital Deployed
Across Strategies
≈$500M
Distressed Debt
Investments
TOP 25
US MSAs
Includes investments made by Machine principals while working together prior to Machine Investment Group.
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Investment Philosophy

Disciplined. Unemotional. Fact-based Analysis.

We believe our investment philosophy yields opportunities and delivers results that produce consistent, opportunistic returns while minimizing losses.

Machine Investment Group
Seek advantageous entry points

Machine focuses on current cash flow and arbitrage opportunities in order to minimize risk.

As such, advantageous entry points, with attractive current cash flow, a significant discount to replacement cost or a cap rate differential across market buyers are important components of a Machine investment.

Be disciplined, diligent and non-emotional

Having invested across cycles, we have developed a comprehensive investment process.

Our belief is that value is created or lost at every step and it is our goal to be disciplined in our diligence from underwriting, through asset management and ultimate exit.

Eliminate binary outcomes

Even the most transparent and efficient markets can produce unpredictable results.

In order to mitigate risks, Machine will pursue investments that have multiple business plans available, thus accommodating inevitable shifts in market dynamics and providing downside protection to investors.

Be a trusted partner

We take the long view on our relationships with all of our stakeholders and believe this to be another critical component to our success.

Our reputation as a desirable counterparty that has executed successful transactions helps maintain our broad sourcing network.

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Investment Criteria
Size

MIDDLE MARKET ASSETS (approximately $15-50 M in equity)

Market

TOP 25 US MARKETS AND SHADOW PRIMARY MARKETS

Transaction Structure

VALUE ADD, OPPORTUNISTIC, DISTRESSED AND SPECIAL SITUATIONS

Property Type

PROPERTIES IN SECTORS WITH ATTRACTIVE LONG TERM DEMAND DRIVERS

Recent Machine Transactions
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San Jose Re-Development Site
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Los Angeles Hotel Recapitalization
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Jacksonville Value-Add Industrial
Team

Machine was founded upon our principals’ expertise in real estate investing, with nearly 50 transactions and ≈$1.5 billion of capital invested on behalf of institutional investors.

Eric Rosenthal Co-Founder
Eric Rosenthal
Co-Founder

Eric Rosenthal is Co-Founder of Machine Investment Group. Prior to founding Machine in 2020, Mr. Rosenthal served as a Managing Director at Garrison Investment Group where he led Real Estate originations across Garrison's debt and equity strategies. While at Garrison, Mr. Rosenthal was a member of the Investment Committee and held investment and asset management responsibilities across the firm’s structured finance and special situation businesses. Mr. Rosenthal has extensive experience investing across the major commercial asset classes, and other specialized verticals including net-lease, seniors housing, self-storage and convenience & gas.

Prior to joining Garrison, Mr. Rosenthal worked at Gramercy Capital Corp., a publicly traded specialty finance REIT, where he worked on debt originations and distressed workouts across all major property types and capital stack positions.

Mr. Rosenthal earned a Bachelor of Arts from the University of Virginia and is a member of the National Investment Center for Seniors Housing & Care and the Urban Land Institute.

Kristi Herschenfeld Managing Director of  Asset Management
Kristi Herschenfeld
Managing Director of Asset Management

Kristi Herschenfeld is a Managing Director of the Asset Management department at Machine Investment Group. Ms. Herschenfeld oversees all asset management functions and monitoring of Machine’s investments.

Prior to joining Machine in 2021, Ms. Herschenfeld served as the group head of Real Estate Asset Management at Garrison Investment Group where she was employed since May 2011. While at Garrison, Ms. Herschenfeld was responsible for the implementation and execution of value-add strategies across asset types, geographies, and capital stack positions.

Prior to Garrison, Ms. Herschenfeld was employed at SL Green Realty Corp., a New York focused REIT (NYSE: SLG) and New York City’s largest office landlord. At SLG, Ms. Herschenfeld served as an analyst on the investments team and supported Green Loan Services LLC, a boutique Large Loan Special Servicer. Ms. Herschenfeld earned a Bachelor of Science in Business and Economics from Lehigh University.

Matthew Kane Managing Director of Finance and Operations
Matthew Kane
Managing Director of Finance and Operations

Matthew Kane is Managing Director of Finance and Operations at Machine Investment Group. Mr. Kane is responsible for the firm’s accounting, tax, treasury and compliance functions, as well as financing and structuring of investments and oversight of external consultants.

Prior to joining Machine in 2021, Mr. Kane was a Managing Director and Controller at Garrison Investment Group, where he oversaw all aspects of financial reporting for an array of real estate funds, special situations funds and other private investment vehicles. In this role, he was primarily responsible for fund accounting, financial statement preparation, investor return computation and regulatory reporting. Mr. Kane contributed further to tax, treasury, and compliance functions within the firm, and also served as a member of the valuation committee.

Michael Librett Vice President of Acquisitions
Michael Librett
Vice President of Acquisitions

Michael Librett is Vice President of Acquisitions at Machine Investment Group. Mr. Librett currently leads the acquisitions team and reports to Mr. Rosenthal regarding all investment sourcing matters for Machine.

Throughout his career, Mr. Librett managed a variety of commercial real estate and private equity investment activities, including acquisitions, asset management, underwriting, due diligence, and execution of direct, joint venture and debt investments across a variety of asset classes.

He most recently served as Vice President, Investments, with Meadow Partners. Since 2017 Mr. Librett was responsible for the acquisition and management of real estate assets representing $2.3 billion of total capitalization in New York and Washington D.C. Previously, Mr. Librett held an acquisitions role at Winter Properties from 2014-2017 and worked for Hanover Street Capital supporting Deutsche Bank’s Special Situations Group. Mr. Librett received a Bachelor of Science in Business Administration from Northeastern University.

Britton Kershner Acquisitions Associate
Britton Kershner
Acquisitions Associate

Britton Kershner is an Acquisitions Associate at Machine Investment Group. Mr. Kershner supports the efforts of Machine’s acquisitions department and is involved in the investment sourcing and underwriting processes for new portfolio investments.

Prior to joining Machine in 2021, Mr. Kershner was an Analyst at Eastdil Secured, where he focused primarily on debt placement and joint venture equity raises for commercial real estate investments. While at Eastdil Secured, Mr. Kershner was responsible for financial analysis and valuation of commercial assets across product types and geographies, including over $3.5 billion of closed transactions. Mr. Kershner earned a Bachelor of Science in Real Estate Risk Management from Pennsylvania State University.

Andy Kwon Co-Founder
In Memoriam
Andy Kwon
Co-Founder

Andy Kwon was Co-Founder of Machine Investment Group. Prior to founding Machine in 2020, Andy headed the Real Estate Group at Garrison Investment Group where he was a member of the Executive Management Committee and Investment Committee. Andy was involved in all aspects of the business, including fundraising, acquisitions, asset management and dispositions. While at Garrison, Andy and his team were responsible for in excess of $4 billion of real estate assets, which included fund investments, co-investments, and separate accounts.

Prior to Garrison, Andy led acquisitions for Urban Residential, where he focused on ground-up development and conversion opportunities. Prior to Urban Residential, Andy worked at Bear Stearns and Hatfield Phillips. Andy received his Bachelor of Arts from Duke University and is a member of the International Council of Shopping Centers and the Urban Land Institute.

In March 2021, Andy passed away suddenly following a brain aneurysm. Andy was laid to rest in his hometown of Columbia, South Carolina and is survived by his wife, three children, mother and sister.

Andy and Eric formulated a vision for Machine before launching the firm in the summer of 2020. This vision was built on shared values and friendship after more than a decade of successful collaboration at Garrison. Andy conducted himself everyday with warmth, integrity, and a competitive spirit that inspired those around him and helped to shape the culture of our firm. His analytical and steady-hand approach within the often-chaotic world of opportunistic investing remains a central pillar of the Machine philosophy. Machine will continue Andy’s legacy and is committed to reflecting his core values.

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Contact
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Contact
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Address
609 Greenwich Street, 4th floor
New York, NY 10014
Phone