Ten Capital Management

Ten Capital Management is a privately held real estate investment management company. We invest across a broad spectrum of real estate strategies and seek to deliver consistent, superior risk-adjusted returns to our investors, while remaining proactive, adapting quickly to changing market fundamentals and opportunities. The firm currently manages capital on behalf of high net worth individuals and institutions, including family offices and registered investment advisors. We are flexible and creative. We partner with experienced real estate operators throughout the United States that have a proven ability to execute on a defined strategy, or in a specific market. We source and execute a broad range of opportunities through various structures and solutions, including: Joint Venture Equity: new investments where a historically low basis and thoughtful business plan to reposition an asset can deliver strong cash yields and/or total returns, along with situations where market fundamentals are robust, but where the asset is distressed and capital markets or management issues drive a sale General Partner Financing: selectively provide GP capital to operators, allowing them to meet co-investment requirement Recapitalizations / Gap Equity: provide liquidity for operators seeking follow-on capital for tenant improvements, leasing commissions, debt pay-down or repurchase, bridge equity, and limited partner replacement Non-Performing and Discounted Loans: pursue non-performing and discounted loan pools of more than five notes in an arms-length transaction (buying from a bank), as well as one-off partnerships with a defaulting borrower (DPO or note purchase) where greater transparency is available

Real Estate Specialization
Multifamily
Industrial
Retail
Hotels
Investment Type
Pref/Mezz equity
JV partnership
Investment Style
Core
Value-add
Opportunistic
Typical Deal Size
$10,000,000 - $50,000,000
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Founder

Benjamin Adams is the Chief Executive Officer and Founder of Ten Capital Management. He launched the company in 2011 and is responsible for the strategic direction and oversight of all firm activities. Ben spent over 20 years in business, government, and law. Ben was a Portfolio Manager with The Townsend Group, where he oversaw $1.7 billion in private equity real estate assets under management within the firm’s discretionary investment management (fund of funds) business, and was actively involved in product development and structuring. Prior to Townsend, Ben was a Vice President and General Counsel of Lionstone Development LLC, a Miami-based, principal balance sheet investor. He practiced law with Greenberg Traurig LLP in New York, New York, and served as the Special Assistant to the White House Counsel in the Clinton Administration. Ben has a law degree from Georgetown University Law Center and a BA from Miami University in Oxford, Ohio. He is the founder and Chairman Emeritus of the Defined Contribution Real Estate Council (DCREC).

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Founder

Carmela Guerrero

Carmela Guerrero is the Chief Operating Officer and Founder of Ten Capital Management with responsibility for the company’s legal, compliance and human resource functions. Carmela has 15 years of experience in business and law. Prior to joining Ten Capital, Carmela was a Consultant and institutional investment advisor with The Townsend Group, where she advised and administered public pension fund and sovereign wealth fund clients in excess of $3+ billion in private and public equity real estate allocations, timber and infrastructure. Prior to joining Townsend, Carmela practiced law with Duane Morris LLP in Miami, Florida where she worked on real estate transaction matters and with Davis, Polk and Wardwell in New York, New York, where she was a member of the firm’s corporate litigation group. Carmela obtained her law degree from the Yale Law School, and graduated with a BA with highest honors in Political Science and French from the University of Michigan. She is a graduate of New York City’s Stuyvesant High School and is admitted to the bar in New York and Florida.

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Chief Financial Officer

Josh Brown is the Chief Financial Officer and a Partner at Ten Capital Management with responsibility for the company’s financial oversight, day-to-day operations and strategic investment planning. Josh has more than 9 years of real estate experience, primarily in investment and development. He was a Summer Associate at Terranum, a Colombia-based, fully integrated real estate company focused on investments in, and developments of, hotels, commercial spaces and mixed-used projects in Central and South America. Prior to Terranum, Josh was a Project Development Associate at Lionstone Development LLC, where he conducted financial analysis of proposed investments and developments, as well as coordinated the development of mixed-use hospitality projects. He earned his BA in history from Cornell University and his MBA from the Johnson School at Cornell University.

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Partner

Paul DiSandro

Paul DiSandro is a Partner at Ten Capital Management. He is responsible for sourcing deals, acquisitions, dispositions, asset management and portfolio management. Paul has more than 11 years of commercial real estate investment management experience. Prior to joining Ten Capital, Paul was a Senior Vice President with Hunt Investment Management where he was the assistant portfolio manager of a $2.2 billion comingled fund and a $200 million separate account. He also held responsibilities in asset management, acquisitions, dispositions, investor reporting and marketing. Prior to Hunt, and its predecessor companies dating back to GMAC Commercial Mortgage, Paul held numerous positions in the financial services industry with Delaware Investments, Morgan Stanley and Prudential Investments. He earned his BS in Finance from LaSalle University in Philadelphia, PA.

Key Focus Areas
Asset Management Due Diligence Financial Analysis Real Estate Investing Individual Investors Institutional Investors
Geographical Area
Mapped Location