DFX Intelligence
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N••••••••• C•••••• P•••••••
Debt real estate managerSEC-registered adviserunder $1B· Westport, Connecticut
Debt real estate manager, based in Westport, Connecticut, reporting $436M of real estate gross assets across 13 vehicles.
Composed from this manager's Form ADV filings and classification.
As of · the latest Form ADV filing; property activity carries its own dates
- Real estate GAV
- $436M
- Current vehicles
- 13
- Properties held
- Not established
- Institutional LPs
- Not established
Form ADV, Schedule D, real estate vehicles summed
Form ADV, Schedule D 7.B.(1)
As of · the latest Form ADV filing; property activity carries its own dates
Why this matters
- Graphs 3
Identifiers, size band and strategyCRD 170112 · SEC 801-126130ShowHide
What capital do they manage?
- Real estate GAV
- $436M GAV 2024sum of GAV over non-feeder, non-quarantined Real Estate Fund vehicles on the latest filing (a scale proxy, never fund size)
- Vehicles
- 13 current, 14 ever, 1 dropped1 feeders, 1 funds of funds
- First on the tape
- 2014the extract starts in 2011; an earlier history is not visible
- Latest filing
- Mar 28, 2024registered adviser
- Adviser RAUM
- $464Mthe whole adviser, all strategies; used for the quarantine test only
- Fund types on the latest filing
- Real Estate Fund 13
- Latest vintage
- 2024from a fund name year or the first ADV report after the adviser's first filing
What do they say they do?
stated by the manager
- Strategy
- Debt
- Operator model
- Debt managerbasis: stated
- Property types
- Industrial, Office, Retail, Hotel, Multifamily, Landbasis: stated
- Markets
- United States, Nevada, New Jersey, Colorado, Californiabasis: stated
- Business kind (site)
- REAL_ESTATE_MANAGER
- AUM in its own words
- more than $600 million of invested capitalthe manager's statement, not a DFX figure
In the manager’s own words
- Debt: “Our focus is on acquiring and originating first-lien loans secured by real-estate at favorable terms on an unlevered basis.”
- Distressed: “NCP invests in distressed special situations, both inside and outside of bankruptcy, where stakeholders require a capital partner who can provide experience, flexibility and patience to solve capital structure and operational issues.”
- Special situations: “NCP invests capital in distressed, opportunistic and complex transactions where real estate is the primary form of collateral. These “special situation” investments are structured investments predominantly in the form of high-yield debt but may involve some level of equity investment.”
- Opportunistic: “N••••••••• C•••••• P••••••• LLC is an opportunistic real estate credit investor.”
- Industrial: “NCP’s investment assets include industrial, office, retail, gaming, hospitality, resort, multifamily and residential and commercial development land.”
- Office: “NCP’s investment assets include industrial, office, retail, gaming, hospitality, resort, multifamily and residential and commercial development land.”
- Retail: “NCP’s investment assets include industrial, office, retail, gaming, hospitality, resort, multifamily and residential and commercial development land.”
- Hotel: “NCP’s investment assets include industrial, office, retail, gaming, hospitality, resort, multifamily and residential and commercial development land.”
- Multifamily: “NCP’s investment assets include industrial, office, retail, gaming, hospitality, resort, multifamily and residential and commercial development land.”
- Land: “NCP’s investment assets include industrial, office, retail, gaming, hospitality, resort, multifamily and residential and commercial development land.”
- United States: “NCP also acquires sub-performing loans, non-performing loans and deficiency judgments located throughout the United States.”
- Nevada: “the debtor-in-possession (“DIP”) and bankruptcy exit loans to S•••••••• T••••, a mortgage real estate investment trust based in Reno, NV”
- New Jersey: “the DIP loan to a b••••••• c••••• in Atlantic City, NJ.”
- Colorado: “a loan on 414 acres of r••••••••• d••••••••• l••• in Colorado”
- California: “a bankruptcy asset acquisition of r••••••••• d••••••••• l••• in California”
Vehicles
14 on Form ADV
| Vehicle | Kind | GAV | Owners | Reported | Vintage | Lifecycle | Name says | LPs |
|---|---|---|---|---|---|---|---|---|
| N••••••••• R••• E••••• O••••••••• F••• I•• L••• 805-4776005040 | fund | $93M GAV 2024 | 41 | 2021 to 2024 | 2021 | Investing | Opportunistic | |
| N•• P• P•••••••• L•• 805-6281549313 | fund | $57M GAV 2024 | 2 | 2022 to 2024 | 2022 | Deploying | ||
| P•••• C•••••• P••••••• F••• I• L• 805-5997533811 | fund | $48M GAV 2024 | 10 | 2023 to 2024 | 2023 | Investing | ||
| N•• P•••••••• I• C••••••• L•• 805-4850369783 | co-investment | $45M GAV 2024 | 3 | 2024 to 2024 | 2024 | Unknown | ||
| N•• E•••••• H•••• C••••••• L•• 805-2254940815 | co-investment | $44M GAV 2024 | 2 | 2022 to 2024 | 2022 | Investing | ||
| N••••••••• C••••••••• F••• L•• 805-4112296220 | co-investment | $40M GAV 2024 | 1 | 2022 to 2024 | 2022 | Deploying | ||
| N•• V••••• L•• 805-1494820785 | fund | $31M GAV 2024 | 4 | 2023 to 2024 | 2023 | Investing | ||
| N••••••••• R••• E••••• O••••••••• F••• I• L••• 805-2041879497 | fund | $28M GAV 2024 | 14 | 2014* to 2024 | unknown | Harvesting | Opportunistic | |
| N••••••••• R••• E••••• O••••••••• F••• I• L••• 805-7625098047 | fund of funds | $22M GAV 2024 | 4 | 2018 to 2024 | 2018 | Harvesting | Opportunistic | |
| N•• G•••• T••• C••••••• L•• 805-6083432233 | co-investment | $15M GAV 2024 | 3 | 2024 to 2024 | 2024 | Unknown | ||
| N••••••••• F••• I• L••• 805-4977141784 | fund | $10M GAV 2024 | 12 | 2024 to 2024 | 2024 | Unknown | ||
| N••••••••• B• C••••••••• F••• L•• 805-8838445715 | co-investment | $1M GAV 2024 | 1 | 2022 to 2024 | 2022 | Deploying | ||
| N•• B•••• 2• L•• 805-7249357215 | fund | $516,195 GAV 2024 | 2 | 2022 to 2024 | 2022 | Winding down |
1 dropped, re-typed or historical vehicles
| Vehicle | Kind | GAV | Owners | Reported | Vintage | Lifecycle | Name says | LPs |
|---|---|---|---|---|---|---|---|---|
| N•• P•••• A•••• H••••••• L•• 805-5173988280, dropped 2023 | feeder | $4M GAV 2022 | 2 | 2022 to 2022 | 2022 | Dropped from ADV |
What do they actually own?
0 trusted of 0 candidate bindings
No validated holdings yet. Candidate bindings stay off this page until their rule passes the blind-label gate.
Properties the manager names on its site
- S•••••••• T••••, Reno, NV (other) “••• Locked”
- B••••••• c•••••, Atlantic City, NJ (hotel) “••• Locked”
- G••••• A••••••••• b••••••••• s•••, Perth Amboy, NJ (industrial) “••• Locked”
- 4•• a•••• r••••••••• d••••••••• l•••, Colorado (land) “••• Locked”
- R••••••••• d••••••••• l•••, California (land) “••• Locked”
What are they buying, selling and financing?
0 acquisitions, 0 sales, 0 financings in 12 months
No attributed events yet. An event reaches this page only through a validated holding binding.
Who finances them?
0 loans, 0 lender groups
No recorded loans through trusted holdings.
Who backs them?
0 allocators, 0 rows
No institutional LP disclosure resolved to this manager.
People
Form ADV Schedule A, latest filing
- M•••••• B••••••• G•••• Managing Member since 2012-08 also on pe, vc
- C••••••••• R••••• D•••••••• President And Chief Marketing Officer/New Business Development since 2014-01 also on pe, vc
- G•••••• N••• W••••• Secretary since 2014-01 also on pe, vc
- M••••••• G••••• B••••••• Treasurer, Chief Operating Officer And Chief Compliance Officer since 2014-01 also on pe, vc
- L••••• G••••••• M•••••••• Chief Financial Officer since 2020-02 also on pe, vc
- J••••• M••• G••••• Investor Relations Officer since 2022-08 also on pe, vc
What is changing?
- Vehicle first reported Mar 28, 2024 (observed) ••• Locked
- Vehicle first reported Mar 28, 2024 (observed) ••• Locked
- Vehicle first reported Mar 28, 2024 (observed) ••• Locked
- Vehicle dropped from ADV Mar 31, 2023 (observed) ••• Locked
- Vehicle first reported Mar 31, 2023 (observed) ••• Locked
- Vehicle first reported Mar 31, 2023 (observed) ••• Locked
- Vehicle first reported Jun 20, 2022 (observed) ••• Locked
- Vehicle first reported Jun 20, 2022 (observed) ••• Locked
- Vehicle first reported Jun 20, 2022 (observed) ••• Locked
- Vehicle first reported Jun 20, 2022 (observed) ••• Locked
- Vehicle first reported Jun 20, 2022 (observed) ••• Locked
- Vehicle first reported Jun 20, 2022 (observed) ••• Locked
- Vehicle first reported Mar 29, 2021 (observed) ••• Locked
- Vehicle first reported Mar 28, 2018 (observed) ••• Locked
- First ADV filing on the tape Mar 25, 2014 (observed) ••• Locked
- Vehicle first reported Mar 25, 2014 (observed) ••• Locked
Across DFX
Bridged by shared CRD, CIK or SEC fund id only; the same institution’s PE portfolio companies and its real estate holdings stay on their own graphs.