A disciplined approach to private credit investing across the real estate capital stack.
Rigorous underwriting and operational expertise to identify opportunities, structure investments, and protect capital while generating attractive risk-adjusted returns.
Investment Strategies
Private Credit
Targets mid-teens returns through subordinated debt and mezzanine financing with 3-7 year hold periods. Focus on hospitality, mixed-use developments, and special situations in growth markets including New York, Nashville, and Tampa. Operational expertise provides competitive advantages in middle-market deal sourcing and execution.
Direct Equity
Selective equity investments where operational expertise offers advantages in acquisition, repositioning, and value creation. Targets full-service hotels, boutique brands, and urban mixed-use developments. Disciplined approach with private credit remaining core mandate.
Special Situations
Flexible capital solutions in complex situations including recapitalizations and refinancings. Focus on strong underlying assets with experienced sponsors and clear value realization paths. Leverage relationships to source proprietary deal flow requiring speed and operational partnership.
Credit-First Mindset
We prioritize downside protection through subordinated debt and mezzanine financing, generating mid-teens returns through structured credit positions with covenant protections and limited downside exposure.
Structural Seniority
Positioned between senior debt and equity with structural protections and upside exposure.
Covenant Packages
Comprehensive covenants provide early warnings and capital protection mechanisms.
Conservative Leverage
Protected by meaningful equity cushions and sustainable capital structures.
Asset-Level Understanding
Direct hospitality experience provides insights into property economics and value creation.
Cycle Recognition
Pattern recognition across real estate cycles identifies attractive entry points.
Active Oversight
Hands-on monitoring and sponsor collaboration to protect investment performance.
Operational Expertise
We integrate operational due diligence with credit underwriting, examining both coverage ratios and unit economics. This dual lens informs underwriting decisions and portfolio management.