Investment Strategy
We invest alongside sponsors, across sectors and markets.
How We Invest
Sponsorship
We partner with both institutional and emerging platforms.
Investments
We participate in commingled funds and in single-asset transactions.
Approach
Nimble, with a deep value focus.
Where We Focus
we invest alongside sponsors across the following strategies:
Quality assets impaired by broken capital and operating structures
We capitalize on distressed and opportunistic situations. Our orientation is deep value: we evaluate the real estate first, then the structure, and we move quickly when the basis is materially below the asset’s value.
Defaulted Notes & Deeply Distressed Assets—Acquire at a substantial discount to UPB and underlying collateral value—generating returns through resolution, recovery and operational improvements.
Preferred Equity—Provide rescue or recapitalization preferred equity into fundamentally sound assets constrained by stressed capital structures—earning a contractual, priority return ahead of common equity with structural downside protection.
Development and redevelopment at a basis below market
We invest alongside sponsors executing on ground-up development and the repositioning of existing assets. The requirement is the same as everywhere else: a cost basis meaningfully below value, in locations whose quality mitigates risk.
Redevelopment & Repositioning—Acquire physically or economically obsolete assets below replacement cost and drive value creation through capital improvement, re-zoning, re-tenanting, and lease-up—monetizing via stabilized refinancing and eventual sale.
Development—Fund ground-up construction of supply-constrained, institutional-quality assets at a basis below comparable market sales—capturing the development spread underwritten to a defined exit.