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roterra Investment Partners LP, a Minneapolis-based alternative asset manager, has welcomed David Kay as Managing Director to spearhead the expansion of its credit and yield offerings into net lease real estate. As Co-head of Proterra Net Lease, Kay will join forces with Mark Decker, a trusted colleague of over 25 years.
Kay brings an impressive track record to the table, having founded Jera Partners, a commercial real estate investment firm specializing in properties leased to high-quality credit tenants. Under his leadership, Jera has managed assets worth over $800 million. Prior to Jera, Kay held key positions at American Realty Capital Properties (ARCP), which was later renamed VEREIT and sold to Realty Income, as well as Capital Automotive REIT (CARS).
Kay's expertise in net lease structures and financing dates back to the late 1990s, making him a pioneer in the field. Decker praises Kay's innovative approach, stating, "David has been an innovator with respect to lease structure and financing since the late 1990s, and we're excited to help business owners unlock value from their real estate."
Proterra believes that well-executed net leases can provide a defensive cash yield, shielded from market fluctuations. The firm also expects its relationships in the food value chain to complement its new strategy, offering a unique advantage in sale-leaseback investments.
"We believe David Kay is one of the top experts in the industry," said Rich Gammill, Proterra's Managing Partner. "His expertise will help us create highly attractive, risk-controlled yield opportunities for our investors." Kay expressed his enthusiasm for joining Proterra, citing the firm's exceptional culture and collective expertise as key factors in his decision.
Proterra Investment Partners LP is an alternative asset manager focused on investments across the food value chain from farm to fork. With a team of 66 professionals across five global offices, the firm manages approximately $3.3 billion in regulatory assets under management.
