Dune’s strategy is broadly focused on opportunities stemming from capital dislocation that frequently affects the real estate market.
Dune executes its strategy through three primary investment themes:
- Distressed: Acquiring and/or restructuring sub-performing commercial mortgages and other real estate loans as an effective means of acquiring real estate assets and recapitalizing transactions
- Deep Value-Add: Recapitalizing and/or rationalizing capital structures or ownership to reposition real estate assets that are often mismanaged
- Contrarian: Investing to take advantage of oversold markets or property types where the acquisition basis is compelling and where Dune believes investor sentiment has created exploitable mispricing opportunities
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Dune employs a highly collaborative investment process in which its partners are involved through the entire life cycle of an investment from origination and structuring, through asset management and to disposition. This approach focuses on teamwork, guidance and idea sharing across the investment team. Through both the Investment Committee and informal communication fostered by Dune’s flat organizational structure, our multi-step process allows the investment teams to continuously incorporate data and feedback. Dune believes this approach leads to more efficient execution and informed decision making.
Dune’s established global network of relationships with lenders, special servicers, real estate finance companies, hedge funds, opportunity funds, real estate developers, property owners and operators and private equity sponsors provides Dune targeted sourcing and an information advantage. Our senior team’s experience in structuring real estate acquisitions, complex partnerships and financial investments through multiple real estate market cycles gives us the ability to execute transactions across the entire capital structure to maximize value creation while managing downside risk.
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Since launching in 2005, Dune has acquired investments with total capitalization of $16 billion. These investments have been made across a broad range of sectors, regions and transaction types.
Dune Real Estate Fund I | Dune Real Estate Fund II | Dune Real Estate Fund III | Dune Real Estate Fund IV | Dune Real Estate Co-Investment |
Vintage 2005 | Vintage 2008 | Vintage 2013 | Vintage 2018 | |
$727MM | $793MM | $960MM | $1.14B | $278MM |
Equity Commitment | Equity Commitment | Equity Commitment | Equity Commitment | Equity Commitment |
All numbers are as of June 30, 2022.
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