Investment Strategies
Yield-oriented equity and credit strategies unified by rigorous underwriting and a focus on attractive risk-adjusted returns
Disciplined Approach Across Strategies
We pursue attractive risk-adjusted, income-focused investments across equity and credit strategies. Our cornerstone is net lease—where we've developed exceptional depth over two decades—complemented by private credit and select equity opportunities where we have conviction and competitive advantage.
Net Lease Investments
Our core expertise. We acquire single-tenant net lease properties across the credit spectrum, from investment-grade to middle-market companies, with a focus on business-critical facilities.
Private Credit
Real estate-backed credit investments for institutional investors seeking yield with downside protection. We apply the same rigorous credit underwriting developed through our net lease experience.
Select Equity Investments
Yield-oriented equity investments beyond net lease where we identify attractive risk-adjusted returns. We pursue select opportunities across property types when market conditions create compelling entry points.
Insurance Company Expertise: We have particular experience structuring net lease and credit investments to optimize regulatory capital treatment for insurance company investors, including NAIC Schedule D eligibility and credit tenant lease (CTL) structures.
Proprietary Net Lease Evaluation Framework
A systematic approach to investment selection refined over two decades and 150+ transactions
Disciplined & Repeatable
We've developed a comprehensive scoring methodology that systematically evaluates every net lease opportunity across six core dimensions. This framework enables objective comparison against our historical database—ensuring consistency and identifying opportunities that fit our target risk-return profile.
The methodology serves multiple purposes: efficient screening of high deal volume, objective scoring to support Investment Committee decisions, and precise targeting of the "sweet spot" where we see attractive risk-adjusted returns.
Our Underwriting Philosophy
Every acquisition is underwritten as if we will need to re-lease it—we validate location, rental rate competitiveness, and building functionality. However, our business plan doesn't require re-leasing to generate returns. Long-term NNN leases with contractual escalations deliver rental growth organically.
Six Core Dimensions
Tenant Creditworthiness
Financial strength, operating history, industry position
Lease Structure
Duration, escalations, guarantees, renewal options
Business Criticality
Operational importance, relocation costs, customer proximity
Market & Location
Demographics, supply/demand dynamics, labor access
Asset Quality
Building vintage, specifications, clear height, dock configuration
Rent & Cost Basis
Rent vs. market, acquisition price vs. replacement cost
Featured Insights
Perspectives on net lease investing and sale-leaseback capital solutions
Fixed for the Future: The Strategic Value of Long-Term NNN Leases
Why fixed rent escalations in long-term triple net leases consistently outperform CPI-based alternatives.
Download PDFSale-Leasebacks: The Superior Private Credit Strategy
How sale-leasebacks deliver the predictable income and yield premium of private credit—plus equity upside.
Download PDFSale-Leasebacks: Efficient Capital for Middle-Market Companies
Why sale-leasebacks have become a powerful financing tool for middle-market companies and PE sponsors.
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