Opportunistic / Value Add

Target investments that meet our deep-value principles that we believe will have attractive risk-adjusted returns

• Seek opportunities to resolve situational distress by providing liquidity to fundamentally sound yet undercapitalized real estate assets
• Look to create alpha-based returns by actively adding value to our investments though repositioning, rebranding, or by optimizing management
• Prioritize diversification when managing overall investment composition
• Tilt towards downside protection, creating what we perceive to be attractive entry points and targeting investments with asymmetric return profiles

Core Plus

Target investments that provide current stable cash flow

• Seek high-quality assets with limited capital expenditures, located in healthy markets with growth potential
• Pursue a diverse real estate portfolio across geography, sector, and tenant base, among others
• Seek to provide an inflation hedge through investments with short-term lease duration
• Identify mispriced properties, reposition investments and capitalize on efficient capital markets

Credit

Focus on high-quality senior, junior and mezzanine debt investments for transitional assets targeting attractive risk-adjusted returns

• Focus on situations with credit improvement stories and basis protected leverage levels
• Leverage extensive credit experience of our platform for creative, proprietary structuring and financing options to create arbitrage opportunities
• Bespoke investment platform that targets select, lower leverage investments rather than building a large book with varying credit profiles
• Leverage proprietary relationships to create non-mark-to-market warehouse and A-note senior financing

Opportunity Zone

Customized, tax-efficient investments, focused on developing high quality real estate in designated Qualified Opportunity Zones

• Target investments designed to spur economic development and job creation in emerging locations
• Intended strategic tax benefits include temporary deferral of capital gains and tax-free treatment on new investment
• Seek sound real estate investments with the benefit of tax-efficient returns