Reven Capital's Carpenter

Industry observers have said for a while now that there is money waiting on the sidelines, looking for opportunities to buy. Reven Capital, a newly formed firm based in La Jolla, CA is one of those firms. The outfit is headed by Chad Carpenter, its chairman and chief executive officer, who was formerly with Equastone Real Estate Investment Advisors. Reven is looking to purchase about $250 million in hotel assets over the next 18 to 24 months and $100 to $150 million in residential assets over that same time period. In the hotel sector, the firm is targeting properties in the top 30 US markets, including some second-tier locales. Management is looking at multifamily mostly on the West Coast. Carpenter recently spoke with GlobeSt.com about Reven Capital’s strategy.

GlobeSt.com: Why have you launched this new venture now?

Carpenter: The reason to launch Reven Capital now is to invest in different real estate asset classes that are hopefully closer to the bottom of the market. Unfortunately, the market has really been hit hard, and there are going to be great buying opportunities out there, and we’d like to invest in them.