Real Estate Funds — In formation
Two mandates we are preparing to open: durable income, modest leverage, time as the multiplier. Designed for qualified purchasers and family offices whose capital measures outcomes in decades. Introductory conversations are welcome ahead of the first close.
Core
Income-led returns with low volatility. Primary submarkets, high-quality tenancy, minimal lease-up risk. The portfolio anchor.
Not in scope. Ground-up development, opportunistic re-tenanting, secondary submarkets.
Core-Plus
Modest, identifiable operational work — re-leasing roll, capex execution, capital-structure cleanup. A return premium for the work, not for additional risk.
Not in scope. Heavy development, change-of-use, ground-up. If a deal needs rent growth above CPI to clear underwriting, we are not the buyer.
Target return ranges are illustrative net-of-fee underwriting bands at the asset level. They reflect the bands at fund formation, not actual or forecast performance — no fund-level performance has been reported. See the standing disclaimer at the foot of this page.
Specific economic terms are detailed in each fund's PPM and subscription documents, which are made available on a confidential basis to qualified purchasers. The architecture below is consistent across vehicles.
Discretionary funds.
Both vehicles will be discretionary, with a defined investment period and a written mandate. As a matter of policy, we will not raise capital we cannot responsibly deploy within twelve months of close.
GP co-investment.
Meaningful GP co-investment is required, by policy, in every vehicle the firm sponsors. Specific commitments will be disclosed in each fund's PPM.
Fees.
Standard fund-of-one and commingled-fund fee philosophy: a modest management fee on committed capital during the investment period, switching to invested capital thereafter; carried interest with a preferred return; full transparency in the PPM.
Reporting.
On launch, the standing reporting cadence will be a quarterly investor letter and full operating statements within forty-five days of quarter-end, plus annual audited financials and direct access to the GP.
Vehicle structure.
Reg D, Section 3(c)(7); open only to qualified purchasers as defined under the Investment Company Act. Subscription documents reviewed by counsel before any commitment.
We do not run a high-volume LP funnel. The process below is what every prospective partner experiences, and we move at the pace that suits the conversation — not the calendar.
The strategy memo and an operating overview of the firm are available on request to ir@dynastycre.com.
Introductory call.
30–45 minutes with a partner. Mutual qualification. We share the strategy memo and an operating overview of the firm.
Data room access.
On execution of an NDA, we open access to the draft fund PPM, the firm's operating diligence materials, and a curated set of asset-level case studies from the property management practice.
Diligence visit.
An optional in-person meeting at our San Francisco office and a walk of one or two managed assets. We do not conduct anonymous diligence.
Soft commit and subscription.
Soft commitments are recorded ahead of the first close. On launch, we issue final subscription documents, confirm qualified-purchaser status, and schedule the capital call to align with the first acquisition.
04 — Standing disclaimer
This website is provided for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any security. Securities offerings, when made, are made only to qualified purchasers via private placement memoranda and related subscription documents. Past performance is not indicative of future results. Dynasty CRE operates exclusively in California.
For the firm's complete regulatory disclosures, see Disclosures.