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If you are a family office or similar private investor in real estate and would like to become a member of Tile Capital, please click "Apply Now" below to apply for membership, or "Contact Us" at the top of the page to request more information.
Wealthy investors and family offices are broadly being underserved in their access to leading real estate opportunities since the wealth management industry generally uses an outdated and rigid asset allocation framework (such as 60/40 equities/fixed income) which is plagued by tax inefficiencies and the prospect for continued elevated inflation. The small amount sometimes allocated to real estate is usually invested in diversified REITs and large private funds. This gives only minor exposure to real estate as an asset class, and often significantly underperforms a more targeted strategy of directly co-investing alongside top tier owner/operators in deals they are leading with significant capital of their own.
Tile Capital was formed by a group of family offices to pursue a more focused “invest with the best” direct investment strategy in real estate. The concept was born out of Tile Capital Founder / CEO’s own experience running a real estate related family office in San Francisco where the most successful investments stemmed from direct deals led by the family, or other leading sponsors well known by the family. Interest among family offices in direct private investing (DPI) is accelerating, but most family offices and other large private investors are faced with two major challenges that are hindering their success: they lack the internal expertise to properly underwrite the deals they see, and most importantly, they're not being exposed to the best opportunities.
Most elite private investors, regardless of whether they invest in private equity, venture capital or real estate, will concede that a large part of their success is related to the high quality network they have developed over many years as a successful investor in their area of expertise, and more specifically, the quality of opportunities that emanate from that network. This concept is particularly valid within the highly fragmented private real estate markets where the best real estate transactions often occur quietly off-market among leading industry insiders.
Tile Capital and its partners source and underwrite leading investment opportunities throughout the US for its members that are being led by elite investors with significant capital contributions of their own. The firm represents a broad opportunity set across commercial real estate investments, but focuses on higher alpha opportunities found in value-add, development / re-development projects, and special situations.
Tile Capital is led by Founder / CEO David Lancaster and operates in strategic partnership with HN Capital Partners. HN Capital Partners is sponsored by Hunt Investment Group, the family office affiliate of Hunt Consolidated Inc., which is a part of the Hunt family of companies directed by Ray L. Hunt in Dallas, TX. Mr. Lancaster was formerly President and Chief Investment Officer of a real estate related single family office in San Francisco and a Director at Carmel Partners, a Preqin #1 globally ranked private equity real estate firm. Mr. Lancaster also has experience serving as a senior advisor to real estate families while at JP Morgan, UBS, and SVB Private, and was an institutional portfolio manager for Millennium Partners in NY.