Taconic Partners Sets Sights on the Sun Belt

Taconic Partners, a vertically integrated real estate development firm based in New York, is making the move to the Sun Belt. The firm has tapped Sheldon Pariser as executive vice president to lead its expansion into acquiring multifamily assets in the Southeast and Texas.

This expansion builds on Taconic’s track record in New York and the tri-state area, where it has developed or repositioned over 7,300 units. 

“Taconic’s track record in the residential and multifamily sector puts the firm in an advantageous position to deliver on long-term, sustained rental demand across the Sun Belt,” says president and chief operating officer Colleen Wenke. 

Pariser joins Taconic from real estate investment manager Prospect Ridge, where he was a principal. In his decade there, he oversaw acquisitions and asset management across a range of property types and equity strategies. Prior to that, he served in Cantor Fitzgerald’s real estate CMBS group.

MFE caught up with Pariser to learn more about his new role and Taconic’s expansion into the Sun Belt.

Why is now the right time for Taconic Partners to expand outside of New York and the tri-state area?

A Return to New York Was a Much-Delayed Dream

Daira Jackson loved growing up in New York City. Her family lived in Queens, and she has a trove of memories from her earliest years, attending P.S. 148 and going on field trips to marquee destinations like the Bronx Zoo and Chinatown.

But when she was 8, her parents divorced and she moved to Miami with her mother and two younger sisters.

“It was so different,” she recalled. “I was like, ‘Where are the skyscrapers? We need a car all the time — what?’ Everything was just different. Ever since then, I’ve been trying to get back to New York.”

It turns out you can go home again but sometimes it takes a very long time. In Ms. Jackson’s case, it was nearly 40 years before she returned.