Tanenbaum Equity Partners (TEP) has recapitalized a portfolio of government-leased properties with a total value of approximately $450 million. The portfolio comprises 98 properties across 24 US states, covering 1.6 million square feet and supporting 30 federal government agencies. The recapitalization includes preferred equity from TEP Principals and Eagle Point Credit Management, alongside senior debt from Centennial Bank.
Key Overview
- Portfolio value: Approximately $450 million
- Properties: 98
- States: 24
- Federal agencies supported: 30
- Total space: 1.6 million square feet
- Occupancy: 98%
- Average remaining lease term: 5.2 years
- Preferred equity: TEP Principals and Eagle Point Credit Management
- Senior debt: Centennial Bank
TEP Recapitalizes $450 Million Government-Leased Property Portfolio
Tanenbaum Equity Partners has completed a recapitalization of its portfolio of properties leased to federal government agencies, bringing the total value of the portfolio to approximately $450 million.
The transaction combines preferred equity from TEP Principals and Eagle Point Credit Management LLC with senior debt provided by Centennial Bank.
According to TEP CEO Sunny Sajnani, the recapitalization provides the firm with a long-term capital structure and greater flexibility as it prepares to continue its acquisition strategy.
Portfolio Spans 24 States
The portfolio consists of 98 properties across 24 states, with a total of approximately 1.6 million square feet of space.
The properties are 98% occupied, while the average remaining lease term is 5.2 years.
The portfolio supports 30 federal government agencies, with the properties leased for government operations.
TEP focuses on government-leased properties and currently operates one of the larger privately owned portfolios of real estate leased to federal agencies.
New Capital Structure Supports Acquisition Strategy
The recapitalization provides TEP with a centralized capital structure for its existing portfolio.
The firm said the structure provides flexibility to lay the groundwork for future acquisitions while also supporting its existing government-leased properties.
Rather than financing individual properties through separate structures, the recapitalized platform provides a centralized capital base across the portfolio.
This is intended to create operational efficiencies as TEP continues to expand its holdings across the United States.
Eagle Point Provides Preferred Equity
Eagle Point Credit Management participated in the transaction through a preferred equity investment.
Eagle Point Vice President Jaime Milgram said government-leased real estate offers durable cash flows and risk-adjusted characteristics, adding that TEP’s portfolio aligns with the firm’s investment strategy.
Eagle Point manages approximately $14 billion across private credit and related strategies, including infrastructure credit, strategic credit, specialty finance and portfolio debt securities.
Federal Agencies Drive Demand for Specialized Properties
TEP said federal agencies continue to rely on specialized facilities owned by private-sector property owners.
Becky Tanenbaum Mallace, TEP’s chief operating officer, said the company’s portfolio is designed around government demand for well-located properties.
The firm’s strategy combines acquisitions, proactive asset management and lease renewals across its government-leased portfolio.
The company expects continued opportunities to acquire properties as federal agencies continue using privately owned facilities for government operations.
Context is everything. Stay ahead of shifting trends with today’s market updates, and uncover emerging opportunities using the Serrari Group Market Index and Marketplace. Then, take control of your own financial future by exploring our Money & Life Reset Transformation Blueprint ™ to build stronger habits, create better systems, and design a path toward lasting wealth.
TEP Plans Further Acquisitions
The recapitalization positions TEP to pursue additional acquisitions while maintaining its existing ownership position through common equity controlled by its principals.
With 98 assets already in the portfolio, the new financing structure provides a larger capital base for future investment in government-leased properties.
TEP will continue managing the portfolio, including acquisitions, asset management and investor relations.
Gardner Tanenbaum Provides Broader Real Estate Experience
TEP operates under Gardner Tanenbaum, whose broader commercial real estate footprint now spans more than 8 million square feet.
TEP Chairman Richard Tanenbaum has more than 35 years of commercial real estate experience. Since 1997, he has overseen the growth of the affiliated Gardner Tanenbaum commercial portfolio from approximately 800,000 square feet to more than 8 million square feet.
The organization has completed nearly 50 projects representing more than $1 billion of development across multifamily, industrial, retail and office properties.
Raymond James Advises on Transaction
Raymond James served as the exclusive financial adviser to TEP on the recapitalization.
The transaction provides TEP with a new capital structure while allowing the company to retain its focus on government-leased real estate and continue pursuing acquisitions.
Outlook
The recapitalization gives Tanenbaum Equity Partners a centralized financing structure for its portfolio of government-leased properties across 24 states.
With approximately $450 million in properties, 98 assets and 98% occupancy, the firm plans to use the new capital structure to support acquisitions and asset management.
TEP’s strategy will continue to focus on government-leased properties, while its broader platform provides experience across several commercial real estate sectors.
FAQs
1. What is the value of TEP’s recapitalized portfolio?
The portfolio has a total value of approximately $450 million.
2. How many properties are included?
The portfolio includes 98 properties across 24 US states.
3. Who provided the financing?
The transaction includes preferred equity from TEP Principals and Eagle Point Credit Management and senior debt from Centennial Bank.
4. What will TEP use the new capital structure for?
The recapitalization is intended to provide long-term capital and flexibility to support the firm’s acquisition strategy, asset management and continued investment in government-leased properties.
Your financial future isn’t something you wait for—it’s something you build.
The real question is: when do you begin?
Move beyond simply staying informed.
Navigate the markets with clarity—track trends through the Serrari Group Market Index, uncover opportunities in the Serrari Marketplace, and build practical knowledge with our Curated Wealth Builder Platform.
Stay connected to what truly matters.
Get daily insights on macro trends and financial movements across Kenya, Africa, and global markets—delivered through the Serrari Newsletter.
Growth opens doors.
Advance your career through professional programs including ACCA, HESI A2, ATI TEAS 7 , HESI EXIT , NCLEX – RN and NCLEX – PN, Financial Literacy!🌟—designed to move you forward with confidence.
See where money is flowing—clearly and in real time.
Track Money Market Funds, Treasury Bills, Treasury Bonds, Green Bonds, and Fixed Deposits, alongside global and African indexes, key economic indicators, and the evolving Crypto and stablecoin landscape—all within Serrari’s Market Index.
