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Investment Philosophy

  • Focus On Value
    Our objective is to generate excess returns over a market cycle by purchasing
    public real estate enterprises at a discount to private market valuation.
  • Focus On Yield and Cash Flow
    Our investment process emphasizes dividend yield in REIT structures, and free
    cash flow in non-REIT companies.

  • Focus On Non-Core Strategy
    An all-cap strategy that may contain REITs, Real Estate Operating Companies,
    and REIT preferred equities. The Value-Opportunity strategy may take modest leverage or short positions but
    is long-biased.

  • Focus on Diversification and Liquidity
    Portfolios are diversified across sectors, geographic locations and tenant exposure
    to protect capita    l.  Portfolios structured with publicly traded real estate securities to provide liquidity.