Turnstone Group LLC, was established in 2001 to make midsize real estate and real estate-related investments in the United States. Employing an opportunistic investment approach, Turnstone Group LLC seeks to capitalize on distressed or misunderstood situations created by the prevailing economic trends as well as the associated fundamental market dislocations found in various real estate-related markets and securities. Turnstone Group LLC is often a first-mover, investing away from the typical areas of focus for many real estate investors and in transactions that involve creativity, complexity, or superior market knowledge. As an investment manager, Turnstone Group LLC adheres to a highly disciplined investment methodology that includes the following elements: rigorous pre-acquisition due diligence; deal execution and detailed business plan development; scrupulous post-acquisition monitoring; and careful scrutiny of optimal exit scenarios. Turnstone Group LLC employs an opportunistic approach to investing, seeking above-average returns for its investors. Target investments typically present one or more of the following common characteristics: 1) compelling valuation multiples; 2) unrealized value; and 3) repositioning opportunities.