Real estate investment professionals Brennen Degner and Paul Pittman have launched Platte Canyon Capital (PCC), a private real estate investment firm with $30 million in general partner (GP) capital from funds managed by private equity firm Inceptiv to invest in middle-market multifamily value-added opportunities.
With Inceptiv’s support, PCC is positioned to acquire up to $1 billion in assets through joint venture partnerships with moderate leverage during the next three years.
“Our launch comes at a pivotal moment for the multifamily industry,” said Degner, the former founder and CEO of multifamily investment firm DB Capital Management. “Valuations have pulled back significantly over the past few years, creating opportunities we’ve been preparing for. While we haven’t yet seen the widespread distress many have anticipated, we believe it’s inevitable to some degree — and now, with our financial resources, we’re well positioned to act decisively whe