Put Private Capital Behind America’s Housing Shortage
Balance Your Portfolio with Income-Producing Real Estate You Can Touch
America faces a 4-million-unit housing shortage, creating a rare, persistent tailwind for private real estate. Carpathian Capital Management transforms this structural gap into predictable, quarterly cash distributions and long-term growth, diversifying your portfolio away from volatile public markets.
Join a growing community of investors who are turning challenges into opportunities
How do we create value?
Unlike passive real estate vehicles or indirect funds-of-funds, Carpathian directly acquires land, secures entitlements, installs infrastructure, partners with experienced local builders, and leases completed developments. This full-stack approach ensures better margins, tighter risk controls, and total transparency.
Proven Track Record
Since 2013, Carpathian Capital Management has:
- Managed over $1.5 billion across five successful funds
- Distributed over $50 million in realized cash returns
- Delivered an audited mid-teens net IRR across completed projects
- Developed and stabilized more than 15,000 rental units in nine growth-focused states
CORE STRATEGIES
Bring much-needed homes to thriving communities while leveraging decades of industry expertise to capture attractive risk-adjusted returns, targeting steady cash flows and compelling total returns. Invest in premium residential development projects in high-growth U.S. markets to enjoy attractive returns with Carpathian Capital Management.
Here is What We Provide
What We Provide
You speak directly with the people making the investment decisions
When you engage with Carpathian Capital, you are not handed off to a sales representative or third-party product distributor. You speak with the managing partners who oversee the deals, underwrite the risks, and deploy the capital.
What We Provide
Our real estate funds are built for income generation and capital preservation
Each fund converts residential-development value into optional quarterly NAV distributions while applying disciplined risk-mitigation at every stage. We co-invest alongside proven regional developers—funding both land development and selective vertical construction when the margin justifies the risk. Recent projects illustrate the range:
- Bells Ferry – Atlanta MSA: 133 age-targeted cottage lots with an IRR-capped preferred equity structure that shields downside.
- The Gathering – Alpharetta, GA: 176-lot infill community in one of the Southeast’s wealthiest suburbs, secured at a deep land discount and already outperforming plan.
- Everly – Cincinnati, OH: 29 urban townhomes backed by a national builder, capturing unmet demand for infill housing near major employers.
By focusing on supply-constrained markets, conservative leverage, and contractual take-outs with blue-chip builders, we seek to capture development spreads while minimizing risks.
What We Provide
Founder Class: Optimized for High-Net-Worth Investors
- Minimum Investment: $1 million (up to $5 million, capital called in phases)
- Preferred Return: Earn the first 10% annual return before performance fees apply
- Low Fee Structure: 1.5% management fee, 15% performance fee after achieving the 10% hurdle
- Cash Distributions: Quarterly distributions start around month 18
- Liquidity: Semiannual redemption windows after a 12-month lock-up
What We Provide
Smart Risk Controls
- Loan-to-Cost (LTC) capped at 65%—ensuring robust equity protection
- Fixed-rate, project-level debt—no interest-rate volatility surprises
- Rigorous Stress Testing: Every deal must maintain at least 1.25x Debt-Service Coverage Ratio (DSCR) even under a 300-basis-point interest rate spike
What We Provide
Real Portfolio Diversification
Private real estate developments offer exceptionally low correlation (0.2 beta, Preqin 2024) to public markets, smoothing portfolio volatility and offering genuine diversification. Rent resets annually, aligning your returns with inflation.
Simple, Transparent, Direct
• Access to detailed data-room analytics
• Monthly asset-level update calls
• Opportunities for site visits and always direct interaction with our underwriting team
Your Next Step: Schedule a 20-Minute Strategy Call
Speak directly with our General Partner. Review live deals, underwriting assumptions, and assess precisely how Fund III aligns with your investment goals.
IMPORTANT LEGAL NOTICE & DISCLOSURES
This website and the information contained herein are qualified in their entirety by the Fund’s Private Placement Memorandum (“PPM”) and Subscription Agreement and do not constitute an offer to sell or a solicitation of an offer to buy any securities.
• The Preferred Units of CCM Development III, LLC (the “Fund”) are not registered under the Securities Act of 1933 or any state securities laws and are offered only to verified accredited investors pursuant to Rule 506(c) of Regulation D. The Fund will take reasonable steps to verify accredited status.
• Units are illiquid, transferable only under strict conditions, and no public or secondary trading market currently exists; investors should be prepared to hold indefinitely and risk total loss of capital.
• This site may contain forward-looking statements as defined under U.S. federal securities laws; actual results may differ materially, and no duty to update is assumed. Past performance is not indicative of future results. Target returns are objectives only and are not guaranteed.
• Nothing herein constitutes legal, tax, accounting, or investment advice; consult your own advisers. The Manager is not registered as an investment adviser and expects the Fund to remain exempt from registration under the Investment Company Act of 1940.
• IRS CIRCULAR 230 NOTICE: Any U.S. federal tax advice herein is not intended to be used to avoid penalties.
• Offers are made solely through the Fund’s PPM and Subscription Agreement; not an offer where prohibited. Not FDIC-insured, bank-guaranteed, or insured by any government agency, and may lose value.