The Grossman family’s business roots are in the building supply/lumber business, which at its peak consisted of eighty-three (83) retail stores/lumber yards in New England and New York.
The operating business was sold in 1969 but the family maintained ownership of the real estate (which was leased back to the operating business). The family also maintained its home-builder finance business, which provided construction loans to home builders during the lumber years. In 1980, Morton and Louis Grossman amicably acquired the real estate interests of the other eighty-three (83) family stock holders by selling the majority of the lumber branches to a publicly traded Real Estate Investment Trust.
Today, The Grossman Companies, Inc. (“TGCI”) is a vertically-integrated organization operating two primary business lines: Commercial real estate investment, including brokerage and property management, and real estate private lending
In its real estate investment business, TGCI owns and manages an approximate 3.0 million square feet of commercial property throughout Southern New England.
In its real estate private lending business, TGCI originates, manages and services an approximate $50 million private loan portfolio.
The two business lines are complementary. Each benefits from the other due to the leveraging of (i) the various skills sets within the organization, (ii) asset and market-level information, and (iii) shared deal sourcing.
In addition, the lending business generates current income with a nine (9) to twelve (12) month investment time horizon and lower risk/lower return profile, while the investment business targets capital appreciation opportunities with a three (3) to ten (10) year investment horizon and higher risk/higher return.