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How we are different

Informational Edge

We operate within a highly successful real estate private equity shop.
We leverage the collective Slate knowledge to make better decisions in public securities.
Understanding private and public market valuation is a proven way to make money in real estate securities.

Proprietary Access

We have access to Slate Asset Management’s private funds.

We are real estate specialists

We invest across all major real estate asset classes.

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Our Philosophy

We seek to preserve capital

We underwrite investments looking for a ‘margin of safety’. We are first and foremost investors ourselves.

We put real estate first

We view real estate securities in the context of the broader property market, not as a subset of the equity or bond markets.

We take a long term view

We focus on fundamentals and value at the expense of short term noise.

We are benchmark unaware

We are not afraid to take a non consensus view for outsized return.

We do not over diversify

We look for uncorrelated investments within real estate. We mitigate risk by diversifying by idea.

We are NAV focused

We are value investors.

We believe that the market can be inefficient

We seek out market inefficiencies such as in smaller market cap companies or complex situations.

We think in probabilistic fashion

We accept that we do not know what the environment will look like.


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Our Decision Rule

Is it a good real estate business?

Is it cheap?

Is management aligned and a good capital allocator?

Is the investment well structured?

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