Real Estate

Improve cash flow, diversification, and portfolio performance with real estate investments.

Top-down Approach

We target asset classes and geographies based on macroeconomic factors, targeting exposure to secular trends that are the primary factor for returns.

In-depth Analysis

Our decision-making process is highly data-driven, with a special focus on limiting downside risk.

Principle-based Process

Our detailed 10-step investment process was built on our philosophy and informed by our principles.

Real Estate Equity

Real estate ownership is an important vehicle for diversification and can provide both income and growth opportunities. Our principles for investing in properties include:

  • Opportunistic: Find opportunities in which our capital and participation can add outsized value
  • High Reward-to-Risk: Mind the downside, then maximize the upside
  • Cash Flows: Invest in shorter-term assets with high cash flow and longer-term assets that we expect to increase cash flow
  • Strong Capital Structure: Reasonable use of leverage; maintain reserves for safety

Real Estate Fixed Income

The right fixed-income investments can provide high cash flows backed by hard assets. This often results in attractive, stable returns.

  • Opportunistic fixed income investments at high yields and comfortable LTVs.

  • First position bridge loans, mezzanine debt, or preferred equity.

  • Typically 1 – 2 year terms.