Location Driven

Nearly a decade ago, when then-newly formed Convergent Capital Partners began acquiring real estate with $10 million it had raised, the company's goal was simple.

“The idea was to buy as fast as we could,” says Nik Sachdev, a Convergent Capital managing director. “Projects were cash starved. We were focused on value, and we knew there would be a recovery.”

Buying roughly $100 million in distressed assets carried risk, but now, as the Tampa-based company embarks on acquisitions for a third private equity fund it closed on last month, Sachdev knows other challenges await.