Sullivan Mermel

Investment decisions are made exclusively by co-founders John Sullivan and David Mermel. Sullivan's background includes 16 years at LaSalle Investment Management, where he served as a managing director focused on US real estate acquisitions. Mermel was a senior vice president at Harrison Street, a firm managing over $55 billion in alternative real assets. No investment committee or external advisor layer sits between the partners and a capital commitment.

The firm relies on the partners' institutional networks built over two decades at LaSalle and Harrison Street. Deal flow comes through operator relationships, broker networks in major US markets, and direct sponsor outreach. Because the firm can close quickly using partner equity without waiting on a fund-level capital call, it positions itself as a speed-first capital provider in competitive processes.

The firm focuses almost entirely on direct deals — acquiring operating real estate, originating structured credit, and making selective venture investments. There is no public record of Sullivan Mermel committing to third-party commingled funds. The partners prefer control over asset-level economics and the ability to underwrite each deal independently.