13th Floor Investments

What 13th Floor Investments does

13th Floor Investments is a privately held, Florida-based boutique investment and development firm founded in 2008 by Managing Principal Arnaud Karsenti. The firm raises and deploys discretionary capital on behalf of individual accredited and institutional investors through five successive commingled funds (Fund I in 2010, Fund II in 2013, Fund III at $41M in 2016, Fund IV at $110M in 2020, and Fund V at $216M in 2023), plus separate accounts, executing value-add and opportunistic real estate transactions across Florida and the broader Southeast U.S. Since inception the firm has invested in 70+ projects spanning residential, multifamily, mixed-use, commercial, and industrial product types, delivering 6.9 million square feet and 4,700+ residential units, with an additional 4,900+ units in the development pipeline through 2033.

The platform is built around a vertically integrated in-house capability stack covering sourcing, underwriting, financing, development, design, architectural, construction management, asset management, leasing, and investor relations, supported by 40+ professionals. Signature product lines include transit-oriented mixed-use developments (Link at Douglas in Miami, Link at Boca in Boca Raton), garden-style and mid-rise multifamily (Parks at Delray, The Reserve at Coconut Point, The Boulevard, Motion at Dadeland), luxury for-sale condominiums (The Harbour, 1010 Brickell, 400 Sunny Isles, Sereno at Bay Harbor), single-family homebuilding through the affiliated 13th Floor Homes division (Manor Parc, Hidden Trails, Arbor Parc), a branded hotel and residences joint venture with Kerzner International (SIRO Brickell), and the 13th Floor Capital private equity arm holding franchise restaurant and bakery investments.

Revenue is generated through three interlocking streams: (1) realized and unrealized investment gains from value-add and opportunistic real estate transactions targeted at a 2.0x multiple and 20%+ IRR under a leverage-light strategy, with 100% of realized investments producing positive returns and a 2.4x blended gross multiple on invested capital across the portfolio; (2) management and performance-based fees on five commingled funds and separate accounts; and (3) for-sale residential sales and rental income from stabilized multifamily communities. The firm has reported managing over $5 billion of real estate currently and over $5.9 billion of real property transacted since inception, with $5 billion of project costs in various stages of development.

Name

13th Floor Investments

Legal name

13th Floor Investments

Website

https://13fi.com

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

11–50 employees

Short description

13th Floor Investments is a Florida-based boutique real estate investment and development firm that raises and deploys discretionary capital from individual and institutional investors through five commingled funds, executing value-add and opportunistic transactions across residential, multifamily, transit-oriented mixed-use, and hospitality projects.

Ownership category

akta.pro rank

Product category

Real Estate Investment and Development

NAICS

Portfolio Management and Investment Advice (523940), Open-End Investment Funds (525910), Investment Banking and Securities Intermediation (52315), Miscellaneous Intermediation (52391)

SIC

Investment Advice (6282), Investors, Nec (6799)

akta.pro primary industry

Real Estate Fundraising Placement (REPE/REIT/Property Funds) (FSAEALAD)

akta.pro secondary industries

Real Estate Capital Markets Advisory (Debt/Equity Placement, Refinancing) (BPAJANAE), Equity Capital Advisory (Private Equity Placements, Growth Capital) (BPAHAOAE), Real Estate M&A / Joint Venture Advisory (Platform Deals, Partnerships) (BPAJANAF)

Keywords

• Real estate investment
• Value-add development
• Multifamily development
• Transit-oriented development
• Fund management services

Headquarters

HQ city

Miami

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Investment gains on real estate transactions: Realized and unrealized returns from value-add and opportunistic real estate investments; portfolio has produced positive returns from 100% of realized investments, targeting a 2.0x multiple and 20%+ IRR for investors. Capital is structured as equity, preferred equity, mezzanine loans, and transitional senior loans.
2. Fund management and asset management fees: Discretionary funding derived from individual and institutional commingled funds (Fund I through Fund V, with Fund V at $216M in commitments targeting 15-20% net IRR) and separate accounts, generating management and performance-based fees.
3. Residential and mixed-use development sales and rentals: For-sale condominium and single-family home sales (e.g., The Harbour sold out Q3 2018) plus rental income from stabilized multifamily communities (e.g., Reserve at Coconut Point, Savio, Parks at Delray Skye).

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels5 records

Core offering

13th Floor Investments is a Florida-based boutique investment and development firm that raises capital from individual accredited and institutional investors through five discretionary commingled funds (Fund I through Fund V) and separate accounts, and deploys that capital into value-add and opportunistic real estate transactions across Florida and the Southeast U.S. The firm develops, owns, and sells residential, multifamily, mixed-use, commercial, and industrial real estate—often through joint-venture co-development partnerships—with a leverage-light strategy targeting 2.0x multiples and 20%+ IRRs for investors. Its delivery is supported by a vertically integrated in-house team handling sourcing, underwriting, financing, design, construction management, asset management, and leasing/sales.

Product overview

13th Floor Investments operates as a Florida-based boutique investment and development platform that delivers value-add and opportunistic real estate through a portfolio of distinct, named development projects rather than a single unified software product. Its offering spans a platform-plus-modules architecture across residential (The Harbour, 1010 Brickell, Sereno at Bay Harbor, 400 Sunny Isles), transit-oriented mixed-use (Link at Douglas, Link at Boca), garden-style multifamily (Parks at Delray, The Reserve at Coconut Point, Motion at Dadeland, The Boulevard), single-family homebuilding delivered through the affiliated 13th Floor Homes division (Manor Parc, Hidden Trails, Arbor Parc, Avalon Trails), and a multifamily portfolio investment (Mt. Auburn), with alternative investments handled through the affiliated 13th Floor Capital arm. The firm manages over $5 billion of real estate, has delivered 6.9 million square feet and over 4,700 residential units, and operates through Funds I–V raised from individual and institutional investors.

Differentiator

Problem solved

Functional benefit

Brands

• 13th Floor Homes: Established South Florida-based homebuilder and developer focused on building quality for-sale homes in high-demand infill areas; consistently ranked as one of the top 10 homebuilders in South Florida.
• 13th Floor Capital

Products and services

• Link at Douglas Mixed-use transit-oriented development at the Douglas Metrorail Station in Miami, FL, comprising four independent towers totaling 1,600 residential units and 68,000 sq ft of retail across 7.5 acres, developed in partnership with The Adler Group.
• Parks at Delray

Quantifiable outcome

• 100% of realized investments have produced positive returns
• +6 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

16 partnerships are on record, tiered flagship, core and minor.

• 13th Floor Homes (affiliate)flagshipStrategic or Co-development Partner13th Floor Homes is the firm's established South Florida homebuilding and development arm, ranked among the top 10 homebuilders in South Florida and a consistent partner for for-sale residential communities including Manor Parc, Hidden Trails, Arbor Parc, and Avalon Trails.
• 13th Floor Capital (affiliate)flagshipStrategic or Co-development PartnerSeparately owned private equity arm of 13th Floor Investments, with portfolio companies including a multi-unit restaurant group (62 Cinnabon, Jamba, and Auntie Anne's locations) and a strategic investment in 37th Street Bakery (formerly Gold Standard Baking).
• Key InternationalflagshipStrategic or Co-development PartnerLong-standing joint-venture partner on multiple signature developments including The Harbour (425-unit North Miami Beach condo), 1010 Brickell (387-unit Miami condo), and the 747-unit Parks at Delray community (Savio + Skye phases).
• Wexford CapitalflagshipStrategic or Co-development PartnerJoint-venture equity partner on multiple developments including 1010 Brickell, The Reserve at Coconut Point (180-unit garden-style community in Estero), and the Parks at Delray master development.
• CDS International HoldingscoreStrategic or Co-development PartnerCo-development partner on Parks at Delray, alongside 13th Floor Investments, Key International, and Wexford Capital; active on both the 420-unit Savio phase and the 327-unit Skye phase.
• The Adler GroupflagshipStrategic or Co-development PartnerJoint-venture partner on Link at Douglas, the 7.5-acre transit-oriented mixed-use development at the Douglas Metrorail Station encompassing four towers with 1,600 residential units and 68,000 sq ft of retail.
• BaringsflagshipStrategic or Co-development PartnerCo-developer on the Crescendo phase (the fourth and final residential tower) of Miami's Link at Douglas transit-oriented development, with a 37-story tower delivering 392 multifamily units adjacent to the Douglas Road Metrorail Station.
• RockpointflagshipStrategic or Co-development PartnerJoint-venture partner on Link at Boca, an eight-story 340-unit transit-oriented mixed-use project in Boca Raton, FL adjacent to the Boca Raton Tri-Rail Station, with $100M construction loan from Santander Bank.
• Tricera CapitalcoreStrategic or Co-development PartnerJoint-venture partner on The Boulevard, a 282-unit mid-rise luxury multifamily building with 27,000 sq ft of ground-floor retail along the MiMo corridor on Biscayne Boulevard in Miami.
• Kerzner International Holdings LimitedflagshipStrategic or Co-development PartnerHospitality brand partner on SIRO Brickell Miami, the first SIRO hotel and branded residences in the U.S., scheduled to open in 2030, with up to 180 rooms and suites plus 350 SIRO Homes. 13th Floor Investments and Forse Holdings serve as local development partners.
• Forse HoldingscoreStrategic or Co-development PartnerMiami-based co-development partner alongside 13th Floor Investments for the SIRO Brickell Miami mixed-use development with Kerzner International.
• ANF (general contractor)coreImplementation/ SI/ Consulting PartnerFull-service construction and development firm serving as general contractor on the 327-unit Skye Apartments phase of Parks at Delray in Delray Beach, FL.
• Corwil ArchitectsminorImplementation/ SI/ Consulting PartnerArchitect of record for The Harbour, a 425-unit, 567,000 sq ft two-tower luxury eco-serene condominium in North Miami Beach, FL.
• Sieger Suarez ArchitectsminorImplementation/ SI/ Consulting PartnerArchitectural partner for 1010 Brickell, a 387-unit, 50-story luxury condominium tower in Miami's financial district.
• South Florida Regional Transportation Authority (SFRTA) / Tri-RailcoreStrategic or Co-development PartnerPublic-private partnership with SFRTA for the Link at Boca transit-oriented development adjacent to the Boca Raton Tri-Rail Station, leveraging TOD strategy pioneered at Link at Douglas near Miami-Dade's Douglas Road Metrorail Station.
• Comras CompanycoreChannel Partner/ Reseller/ DistributorExclusive retail leasing agent for The Davie South mixed-use development at 3501 Davie Road in Davie, FL; achieved 100% retail lease-up eight months ahead of the Q4 2026 anticipated delivery. Senior Director Irma Figueroa leads leasing on behalf of Comras.

Scale indicators11 records

Recent moves9 records

Expansion highlights7 records

Direct peers

• The Adler Group: Miami-based multifamily and mixed-use developer and JV partner on Link at Douglas and Motion at Dadeland; comparable South Florida infill and transit-oriented development strategy.
• Tricera Capital: Florida-focused value-add multifamily investment firm and JV partner on The Boulevard; a directly comparable boutique Florida multifamily sponsor.
• Two Roads Development: Miami-based residential and hospitality developer with luxury condominium and branded-residence projects (e.g., Resnick Center, Mandarin Oriental Brickell area) competing for the same Miami infill buyer pool as 13th Floor.
• Terra Group: South Florida-based developer of luxury condominium, multifamily, and mixed-use projects, often co-developed with institutional partners — directly comparable in product mix and Miami geography to 13th Floor.
• Rockpoint Group: Boston-based real estate private equity firm that JV'd with 13th Floor on Link at Boca; active Sun Belt multifamily and mixed-use investor with comparable value-add strategy and institutional capital base.
• Related Group: One of the largest Florida-based real estate developers, with a deep portfolio of luxury condominium, multifamily, and mixed-use developments across South Florida — directly comparable to 13th Floor's residential and TOD strategy in the same Miami geography.
• Key International: Long-standing JV partner of 13th Floor on The Harbour, 1010 Brickell, and Parks at Delray; an active South Florida residential and multifamily developer with overlapping condominium and rental strategies.
• Wexford Capital: Connecticut-based real estate private equity firm and repeat JV partner of 13th Floor (1010 Brickell, Reserve at Coconut Point, Parks at Delray) with overlapping Sun Belt multifamily investment strategy.

Broad incumbents

• Lennar Corporation: Largest U.S. homebuilder with a dominant Florida for-sale residential footprint that overlaps with 13th Floor Homes; competes for land, labor, and buyer demand in the same South Florida submarkets.

Regional players

• Fontainebleau Development: Miami-based hospitality and branded-residence developer (Fontainebleau Miami Beach, Turnberry) active in the same Brickell/SoFla luxury hotel and branded-residence market that 13th Floor is entering via SIRO Brickell.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/13thfi

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries2 records

Funding overview

Funding rounds4 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about 13th Floor Investments