Alcova Capital’s home is the 43rd floor of the GE Building, an Art Deco icon built in 1931 to house RCA and later its parent General Electric.
Alcova builds on its longstanding real estate industry relationships to source, evaluate, underwrite, execute on and manage real estate bridge loans.
Privately originated real estate investments:
Alcova takes a flexible and creative approach with a speed and certainty of execution to help borrowers acquire properties and execute on their business plans.
B-Notes/Mezzanine Loans/Preferred Equity
Alcova can provide a one-stop financing solution by pairing a senior bridge loan with subordinate debt or preferred equity.
Opportunity Zone Equity
Alcova utilizes its lending platform to source opportunistic, bespoke Qualified Opportunity Zone equity investments.
ALCOVA / ‘al’kōv’a / noun: Italian; translation: alcove
A niche inlay apart from a greater space, denoting a unique purpose and role
A place apart from the trafficked mainstream, offering a recess from the crowd
Alcova Capital seeks to deliver attractive risk-adjusted returns from structurally inefficient niche markets
Our bridge loans provide transitional financing to commercial real estate developers with valuable assets. Characteristics include:
- Premier U.S. markets, a defensive approach which tends to offer more liquidity and recovery from recession
- A preference for easier lease-up properties and more proximate cash flow
- Target $3-30 million loans which show visibility to repayment in 9-18 months
- Consideration of pre-development/land, small-scale construction, re-lease, value-add and master plan lending
Opportunity Zone Equity
Utilizing our bridge lending network to secure Opportunity Zone equity investments which have the following characteristics:
- High growth markets
- Investments underwrite on a stand-alone basis
- Enhanced upside through favorable tax characteristics, including deferral of capital gains, reduction in capital gains and tax-free returns on investment on a 10-year hold
- Lending Portfolio
- Opportunity Zone
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Alcova’s management team has relevant real estate, investment banking, asset management and operational experience.
He previously held senior positions at Spectrum Group Management, Gates Capital Management and West Side Advisors.
Along the way he has been a General Partner in venture funds related to medical devices and renewable energy. Russell earned an MBA from Columbia University in 1998 and a BA from Cornell University in Government and Italian Literature in 1991.
He is Treasurer of Children's Aid, the largest children's welfare agency in New York City, with a $150MM budget and $400MM pool of assets. Russell and his wife Mica have two grown children. He co-founded the Sag Harbor Cycle Company and is an avid cyclist, kiteboarder and skier.
He was a Managing Director at Spectrum Group Management, an asset manager focused on direct lending and distressed credit. He began his career as an investment banker at JPMorgan in the real estate, gaming and lodging group where he advised clients on over $10 billion of debt, equity and M&A transactions.
He graduated with a BS from Cornell University in 2000 and lives in Armonk, NY with his wife and two children. He’s an active angel investor in early-stage technology companies. Representative venture-backed SaaS and Fintech companies include, Pluralsight, Dataminr, AngelList, Bread, Artivest, CompStak, RealtyMogul, Pact Insurance, and Braavo.
Previously Sam was a member of the Wheel Program at CBRE, a 14-month rotational program in which associates rotate through four different groups in various subsectors of the real estate industry.
Sam graduated with high distinction from the University of Michigan.
Prior to joining Benefit Street Partners, Tristan was a member of the finance team at Fifth Street Asset Management, a credit-focused asset manager. Tristan began his career in public accounting as a Senior Accountant at Markowitz, Fenelon & Bank, LLP.
He earned a BS in Accounting from the State University of New York at New Paltz.