Jack Boyajian
Chief Executive Officer
President of The Hutton Group. Pioneered a 5,000+ unit co-op-to-condo conversion practice over 35+ years.
Wharton · Rutgers Law
For institutions
The buildings exist. The housing doesn’t.
STILL Property Group acquires underutilized hotels and buildings in supply-constrained coastal U.S. markets and converts them into Class A apartments—underwritten on real operating data and run by the principals.
Three structures.
Institutional relationships take the shape the mandate requires. Each one is run by the principals.
Fund LP
A commitment to Jade Residential Fund I: one strategy, a European waterfall, and governance written into the documents.
Co-GP
Sponsor-side participation at the project level, alongside the principals and on their economics.
Direct
Single-asset positions and bespoke structures for allocators who underwrite deal by deal.
Fund I, in brief.
Indicative terms, subject to the final Limited Partnership Agreement. Economics are provided in the data room.
- Target fund size
- $25M–$50M
- Minimum investment
- $250,000 individuals · $1,000,000 entities
- Waterfall
- European (whole-fund)
- Reporting
- Quarterly; annual audit
- Eligibility
- Accredited investors · Reg D 506(c)
Available to verified accredited investors only, pursuant to Rule 506(c). Any offer is made solely through the PPM. Terms summarized; see offering documents.
The people running the projects.
Armand Boyajian
Managing Partner
Advisor on $1.5B+ of acquisitions and capital raises, including at KPG Funds in New York.
NYU Stern
David Boyajian
Managing Partner
Vice President of The Hutton Group, overseeing 1,000+ condominium conversions.
TCNJ · Oxford · Rutgers Law
Drew De Risi
Head of Capital Markets
President of Whitestone REP. Two decades in commercial real estate capital markets, advising on financings and transactions since 2005.
Hobart College
The Hutton Group
Four decades of conversion expertise, legal infrastructure, regulatory navigation, and the national deal network behind off-market sourcing.
STILL Real Estate
Underwriting, market due diligence, research and analytics: the layer that decides what gets acquired, and the engine behind off-market deal flow.
STILL Global Sourcing
In-house procurement across materials and FF&E, controlling supply chain quality and cutting construction cost versus market.
Next step
Request the DDQ & data room.
Our Head of Capital Markets will follow up with fund materials, the DDQ, and data-room access.