Structural Alpha

Our strategy relies on avoiding institutional bidding wars in tier-one markets while maximizing tax efficiency.

Common Mistakes in US Allocations

• Failing to account for FIRPTA: Foreign investors often face up to 15% withholding on real estate dispositions if improperly structured.
• Ignoring the 1999 Treaty: The US and Qatar have a double taxation treaty that limits dividend withholding tax. Utilizing QFC structures can sometimes reduce this friction significantly compared to traditional Cayman/BVI routing.
• Over-allocating to generic gateway cities: Buying a 4% cap rate in Manhattan is wealth preservation; buying an 8% cap rate in a prime Texas logistics hub is wealth generation.

The Methodology

We source assets directly from developers and retiring principals in the Sun Belt and Mid-Atlantic. By syndicating directly, we remove the "fund of funds" management fee layer, instantly delivering 150-200bps of outperformance against standard benchmark indices.