About
Range Light Investment Partners
Range Light Investment Partners is a privately held, Real Estate Investment firm specializing in Value Add and Opportunistic Class B and C Industrial assets focused primarily on Small bay and Medium bay product types. Range Light’s target markets are rooted in the Rust Belt of the Midwest and growing towards the Sunbelt of the Southeastern US. Primary focus is in secondary and tertiary locations with strong underlying fundamentals. Capitalizing on an excess of 75 years combined experience in commercial real estate as investors and developers, the Range Light team leverages their experience in their niche asset type to unlock strong returns for their investors.
Range Light Core Values
RESPECT – Be Respectful to all we interact with regardless of their role in our business
ETHICS – Do the right thing, even when its hard
CULTURE – Cultivate creativity and innovation that allows us to become the best version of ourselves and thereby turning our properties into the best versions of themselves.
TEAM – Our Team First mentality is why we are successful. Almost nothing we do is done without contributions from others. Never make the mistake of thinking otherwise.
TRUST – Always put the interests of our properties and the interests of our investors in those properties FIRST.
Leadership Team
Patrick Foran
Patrick Foran, Founder of Range Light Investment Partners, is an accomplished real estate executive with a diverse career spanning over two decades in Industrial, Retail, Multifamily and Mixed Use Development. His expertise incorporates development, redevelopment, and construction, with a specific focus on value add projects throughout the Midwest and Southeastern United States. Pat’s strategic vision, combined with a deep understanding of market dynamics, has led to the successful execution of high-impact projects totaling over $4 Billion dollars, resulting in substantial returns on investment.
Pat began with a passion for identifying untapped potential in real estate assets. This enabled him to find, initiate and manage successful projects in major, secondary and tertiary markets alike while leading investment efforts throughout the Midwest and Southeast for a publicly traded REIT and two Family Office private developers. Pat has consistently demonstrated an ability to identify and capitalize on real estate opportunities. His track record is characterized by meticulous planning, innovative design, and rigorous execution. Pat’s hands-on approach, coupled with an unwavering commitment to quality, has garnered him a reputation as a trusted leader in the industry developing projects Fortune 500 for end users.
With a proven track record of repositioning properties, unlocking untapped values, driving revenue growth, and optimizing operational efficiencies, Mr. Foran stands as a leader in the value-add real estate sector. His vision, leadership and results-driven approach continue to shape value add redevelopment of properties the Midwest and Southeast, leaving an opportunistic mark on the assets, while creating value and generating substantial returns for Range Light’s investors.
Andy Hill
Andy Hill, as a Principal at Range Light Investment Partners, leverages his extensive experience in finance and real estate. Before his role at Range Light, Andy held the position of Senior Vice President of Finance at Industrial Commercial Properties LLC (ICP) where he played a pivotal role in shaping financial planning and accounting practices, fostering relationships with lending institutions, investors, and the broader financial community. Between 2019 and 2023, Andy successfully facilitated over 125 transactions, amounting to an impressive $1.2 billion. He leads a crucial part of Range Light’s business in establishing lending relationships with investors, banks, life companies, CMBS, pension funds, and credit tenant lenders.
Earlier in his career, Andy’s expertise was honed during his 13-year tenure at Forest City Realty Trust. As a Vice President at Forest City, he oversaw loan closings exceeding $1.5 billion in the preceding five years. His expertise includes securing financing for diverse real estate ventures, including malls, mixed-use projects, office/lab spaces, and multi-family transactions. Andy is well-versed in various lending vehicles, such as construction, refinancing, new market tax credits, low-income housing tax credits, historic tax credits, tax increment financing, and 1031 exchanges.
Recognized for his accomplishments in 2022, Andy was named one of Crain’s Notables in Finance. He holds an undergraduate degree in Finance and Marketing from Ohio University and earned his MBA with a concentration in Finance from Miami University (Oxford, OH). Andy’s dedication, financial acumen, and strategic prowess continue to shape the success of Range Light Investment Partners
Robert Spies
Robert M. Spies is a Principal at Range Light Investment Partners where he leads the company’s efforts in accounting, tax, underwriting and investor relations. Robert is an accomplished real estate developer and investor, spanning a 31-year track record in commercial real estate in the Midwest. After graduating from Cleveland State University with a BBA in Real Estate Finance and Accounting in 1992, Robert developed a portfolio of retail shopping centers through value-add acquisitions and new ground up development.
In 2013, after the sale of his retail portfolio, Robert created a family investment office which focuses on working with other developers in real estate joint ventures, limited partner investments, general partner investments, mezzanine financing and balance sheet support. Robert’s family office has been a driving force in the building, development, and financing of diverse real estate projects, specializing in multifamily, and office properties. His comprehensive expertise has contributed to his ownership and investment in a current portfolio exceeding $200 million in commercial real estate assets. Robert prides himself in bringing creative solutions to complex issues.
Beyond his business endeavors, Robert is engaged in community development. He has actively served on various community development committees and has held positions on the boards of local Chambers of Commerce and the Centers for Dialysis Care of Cleveland. His commitment to community service reflects his dedication to fostering growth and well-being beyond the realm of real estate.
Robert, his wife and two sons reside in Pepper Pike, Ohio. His strategic vision, financial acumen, and community involvement make him not only a distinguished figure in the commercial real estate landscape but also a valued contributor to his community.