29th Street Capital (29SC) is a privately held real estate investment firm with offices in San Francisco and Chicago. The firm was founded in 2009 to capitalize on the dislocation in the United States real estate markets, and the partners continue to manage the firm as a dynamic and entrepreneurial business.  To date, 29SC has acquired over $1 billion of total assets with local acquisition managers in over 14 markets across the U.S.  Our “boots on the ground” presence in each target market gives our team the benefit of sourcing off-market deals where we can execute on our value-add/repositioning investment strategy.

As a vertically integrated company, we are able to take a hands-on approach to every aspect of the investment and align our interests with investors. Equity commitments typically range between $3-30 million ($10-100 million in total capital) per deal to avoid competition of institutions.  Currently, 29th Street Capital focuses on three asset classes within the domestic real estate market.

29SC began investing in Single Family Residential (SFR) in 2009 to purchase distress assets from banking institutions.  The SFR business unit eventually developed into a portfolio of over 2,000 single family homes for rent taken public in the Canadian Stock Market as part of Tricon American Homes (Ticker: TCN.TO).  In 2011, 29SC created a distressed debt business unit that acquired troubled real estate assets which were under the institutional radar primarily from local and community banks.  These smaller banks were facing an immediate need to recapitalize their balance sheet forced by government agencies as part of loss-share agreements so there was a window of opportunity to add discounted loans to our portfolio.  As the market improved, these opportunities became scarcer and the amount of risk increased so 29SC decided to liquidate these assets.  In 2011, 29SC’s principals also decided to leverage the existing leasing, property management and construction teams in the SFR business to expand into value-add multifamily.  This business unit began in Oakland, CA, quickly expanding into 11 markets with local acquisition managers in each. 29SC’s current portfolio is made up of over 10,000 units centered around value-add/repositioning multifamily opportunities that are below the institutional radar with limited competition.

Overall, all three business units have invested over $850 million in equity and over $2 billion of total assets.