Investment programs

PropCap invests across a broad spectrum of commercial real estate linked credit instruments, including levered senior and junior loans, and low investment grade structured vehicle bonds (e.g. CMBS and CLOs).  To us, a cross-capital structure approach and co-existence with actively managed commercial property debt securities strategies leads to systematic, repeatable alpha-generation.

Private Commercial Real Estate Debt

We seek to generate outperformance by focusing on deep fundamental credit analysis, careful consideration of relative value and comprehensive risk management.  Optimizing economics is selectively considered via targeted  use of structural and/or financial leverage, which may include financing, securitization, or sale of senior or junior notes.

PropCap has excellent relationships with key leaders on both the sell-side and buy-side which result in numerous competitive advantages. Additionally, our cross-capital structure analytical approach and co-existence of this strategy with actively managed commercial property debt securities strategies leads to systematic, repeatable alpha-generation.

Rated and Unrated Registered Form Credit

Our long liquid credit strategies pursue an uncorrelated, absolute return focused largely on low-investment grade credit securities.  Our investment approach combines deep fundamental research with sophisticated structure know-how and dynamic portfolio management.  This credit strategy is broadly diversified with views expressed through a combination of capital structure arbitrage and relative value pair investments, designed to produce predictable, low volatility returns with the potential to capture medium to long term appreciation.

Separately Managed Accounts

Recognizing that some investors have unique specifications, PropCap also offers tailored investment programs, which combine one or more of the Firm’s core strategies to meet the individualized investment and return objectives of LPs.  Tailored strategies include direct leveraged lending across senior and subordinated debt, long-short liquid credit, long-only liquid credit or combinations thereof .