Approach to Investing
Protect against the downside, and the upside will take care of itself.
That is an essential tenet of our investment philosophy. In our investments, downside protection means conservative levels of debt, thorough underwriting and adequate provision of capital for maintenance and improvements. This helps ensure that we can survive economic downturns and always improve the competitive position of our properties.
Malkin Securities’ investment focus is on “fortress” assets, protected by location, quality or other barriers to competition, where we can add value through improvements, upgrades, or better management. As cash flow and market value grow, such assets typically are refinanced and the proceeds returned to investors on a tax-deferred basis, reinvested in the property in order to complete its repositioning and re-tenanting. We recognize that sometimes the market will pay more than the value we assign to the long-term prospects of a property, and in these circumstances, we are prepared to sell and redeploy our investors’ equity.
Malkin Securities Corp. is a registered broker-dealer with the Securities and Exchange Commission and is a member of FINRA & SIPC.