As a real estate advisory firm, InDev Capital’s mission is to provide turnkey deep-value real estate investment opportunities to large-scale sophisticated global opportunistic investors. Our work starts with sourcing deep-value investment opportunities, usually based on a significant political and economic event that creates mispricing in a given market and asset class.
When we see those opportunities, we study the opportunity in detail, verify our assumptions, and communicate and create dialogue among our investor partners. Upon investor agreement on our investment thesis, we source turnkey investment opportunities from top-tier local sponsors with proprietary transactions seeking capital partners.
Our approach is to deeply study the details of an investment thesis to save the global investor time. In 2015, we began to study Brazil’s downturn in detail and we started to see deep-value real estate investment opportunities in the downturn. It is now clear that the timing is correct, definitely closer to the bottom than a peak, and we are very deep in the trade with significant global capital and top-tier sponsors.
Importantly, we are market agnostic and believe the fundamentals of deep-value investing do not change. We try to find $1 that can be purchased for around 50 cents. This is not easy. It takes discipline, time, persistence, and sometimes doing nothing but waiting for the weight of time to have its effect on a market. We do not bet on the upside of significant GDP growth but focus on investing with downside protection in situations with an expectation of perhaps a return to the mean.
We do not execute a large number of transactions but our transactions tend to be very specific based on a deep-value investment theme that has been thoroughly researched. Our transactions and JV partnerships are usually in the US$50 to $150M+ range.