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1/23/25
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Brennen Degner and Paul Pittman have launched Platte Canyon Capital (“PCC”), a private real estate investment firm with $30 mil in GP capital from funds managed by private equity firm Inceptiv to invest in middle-market multifamily value-add opportunities.
“Our launch comes at a pivotal moment for the multifamily industry,” said Degner, the former founder and CEO of multifamily investment firm DB Capital Management. “Valuations have pulled back significantly over the past few years, creating opportunities we’ve been preparing for. While we haven’t yet seen the widespread distress many have anticipated, we believe it’s inevitable to some degree—and now, with our financial resources, we’re well positioned to act decisively when those opportunities arise.”
PCC will exclusively target mismanaged and undercapitalized multifamily assets in markets characterized by strong fundamentals, growth potential including Dallas, Austin, San Antonio, Denver, and Salt Lake City. The firm plans to pursue off-market and pre-market opportunities, with the goal of unlocking value by avoiding the inefficiencies of traditional marketed deals.
Inceptiv, a private equity firm based in Culver City, specializes in providing specialty GP capital solutions to real estate independent sponsors. Inceptiv’s commitment highlights its focus on empowering growth-oriented platforms that exhibit strong leadership and a well-defined strategy. By providing bespoke capital structures, Inceptiv enables partners like Platte Canyon Capital to seize market opportunities and achieve meaningful growth.
With Inceptiv’s support, PCC is positioned to acquire up to $1 bil in assets through joint venture partnerships with moderate leverage over the next three years. Degner will continue to be involved in DB Capital in an advisory capacity.
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