March Capital Management

What March Capital Management does

March Capital Management, LLC is a privately held, vertically integrated real estate investment fund operator founded in 2004 by Bora Ozturk and Yola Haddad and headquartered in San Francisco. The firm operates the March Capital Fund, a single private equity real estate vehicle spanning four asset classes: distressed assets, industrial and data centers, multifamily/residential, and single family homes. Its stated edge is middle-market focus on projects with costs between $10 million and $100 million, sourced through long-standing relationships with brokers, banks, and landowners. The firm claims a median 35% project-level IRR with no losses over 21 years, citing below-industry-standard leverage and disciplined cost control as defensive characteristics.

The investment platform is built on in-house execution across the full lifecycle — acquisition, due diligence, entitlement, permitting, construction management, and stabilization — delivered by a team of approximately 15 specialists including co-founders, a partner of development, a director of development, senior and junior project managers, a head of creatives, and finance/IR staff. Operations span California, Utah (Salt Lake City), Texas (Austin), and Hawaii, with no disclosed subsidiaries, no external institutional ownership, and no public pricing or AUM disclosure.

The revenue model is fund management economics: management fees and carried interest on a private equity real estate fund serving institutional investors exclusively. Distribution is direct-to-institution through private relationships and a gated investor portal, with no retail or marketplace channel. Pricing, minimums, and fund terms are not publicly disclosed, and the firm shows no evidence of AI/ML tooling, external funding rounds, M&A, or product diversification beyond its four asset class strategies.

Name

March Capital Management

Legal name

March Capital Management, LLC

Website

https://marchcapitalmanagement.com

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

11–50 employees

Short description

March Capital Management is a privately held San Francisco real estate investment fund operator running a vertically integrated middle-market private equity fund across distressed assets, industrial and data centers, multifamily, and single family homes for institutional investors.

Ownership category

akta.pro rank

Product category

Real Estate Private Equity Fund Management

NAICS

Funds, Trusts, and Other Financial Vehicles (525), Other Investment Pools and Funds (5259), Portfolio Management and Investment Advice (523940)

SIC

Investors, Nec (6799), Real Estate Dealers (For Their Own Account) (6532), Investment Advice (6282)

akta.pro primary industry

Real Estate Funds — Opportunistic / Development (FSANAEAI)

akta.pro secondary industries

Real Estate Portfolio & Fund Management (Institutional/REIT/PE) (BPAJAMAJ), Real Estate Funds — Core-Plus (FSANAEAG), Capital Raising Advisory (Debt/Equity/Private Capital) (BPAHADAG)

Keywords

• Private real estate fund
• Distressed asset investing
• Multifamily development
• Industrial real estate investment
• Real estate fund management

Headquarters

HQ city

San Francisco

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Fund Management: Real estate private equity fund operator generating returns through investment management, including management fees and carried interest on investment performance. Focuses on distressed assets, industrial, multifamily, and single family residential properties.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

March Capital Management operates a vertically integrated private equity real estate fund that acquires, designs, entitles, builds, and stabilizes investment projects across distressed assets, industrial and data centers, multifamily/residential, and single family homes. The firm sources undervalued and distressed opportunities through long-standing broker, bank, and landowner relationships, targeting middle-market projects between $10 million and $100 million. It generates returns for institutional investors through fund management fees and carried interest on investment performance.

Product overview

March Capital Management is a vertically integrated real estate investment fund operator offering a single unified investment platform focused on private real estate markets. The firm operates the March Capital Fund as its core product, which encompasses four distinct asset class strategies: Distressed Assets (acquiring underperforming properties below replacement cost), Industrial and Data Centers (logistics, manufacturing facilities, and data center development), Multifamily/Residential (ground-up development and value-add apartment investments), and Single Family Homes (luxury residential renovation and development). The investment approach combines hands-on management, data-driven analysis, and long-standing industry relationships to identify undervalued opportunities and deliver risk-adjusted returns.

Differentiator

Problem solved

Functional benefit

Products and services

• March Capital Fund Private equity real estate fund and development company that acquires, designs, permits, and manages industrial and residential projects with a focus on underutilized real estate assets. Offered to institutional investors.
• Distressed Assets Investment Strategy Investment strategy focused on acquiring assets below replacement cost and fair market value through established lender and broker relationships, with specialization in transforming underperforming assets through strategic repositioning and recapitalization. Offered within the March Capital Fund to institutional investors.
• Industrial and Data Centers Strategy Investment in logistics parks, manufacturing facilities, and data center land development, including ground-up construction and value-add repositioning of industrial properties. Offered within the March Capital Fund to institutional investors.
• Multifamily/Residential Strategy Ground-up multifamily development and value-add residential investments in supply-constrained markets, including mixed-use projects and student housing developments. Offered within the March Capital Fund to institutional investors.
• Single Family Homes Strategy Luxury residential investment strategy involving acquisition, renovation, and ground-up development of single-family homes for short-term rentals or sale, targeting high-barrier-to-entry markets. Offered within the March Capital Fund to institutional investors.

Quantifiable outcome

• Median 35% IRR with no losses over 21+ years
• +2 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators7 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• Westbrook Partners: Real estate private equity firm focused on opportunistic, value-add, and distressed investments globally. Directly comparable investment style and middle-market opportunistic thesis.
• Canyon Partners Real Estate: Alternative investment manager with dedicated real estate value-add and opportunistic strategies. Comparable distressed and middle-market orientation with strong institutional fundraising capability.
• Rockpoint Group: Boston-based real estate private equity firm focused on opportunistic, value-add, and credit investments. Directly comparable to MCM in distressed and underperforming-asset repositioning thesis with institutional LP base.
• Bridge Investment Group: Vertically integrated real estate private equity manager with deep multifamily and value-add focus. Comparable operating approach and distressed/value-add underwriting philosophy targeting similar investor base.
• Stockbridge Capital Group: San Francisco-based real estate investment manager with multifamily, industrial, and opportunistic strategies. Geographic overlap (California) and similar middle-market value-add orientation make it a direct comparable to MCM.
• Crow Holdings Capital: Dallas-based real estate private equity manager investing across multiple asset classes with a value-add and opportunistic orientation. Highly comparable middle-market strategy and vertically integrated operating approach align with MCM's model.
• GTIS Partners: Real estate private equity firm with institutional focus on opportunistic and value-add strategies across U.S. residential, industrial, and office. Similar thesis and middle-market execution model.
• Harrison Street: Chicago-based alternative real estate investment manager focused on niche and institutional-quality assets. Comparable opportunistic/value-add orientation with institutional LP base.

Broad incumbents

• Oaktree Capital Real Estate: Large established distressed and opportunistic real estate fund manager with much broader AUM scale than MCM. Highly relevant incumbent reference for distressed-asset strategy and institutional fundraising patterns.
• AEW Capital Management: Diversified real estate investment manager with core, core-plus, and value-add strategies. Comparable in multifamily and industrial exposure, though broader and more institutional in scale.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/march-capital-management-llc

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Funding overview

Funding rounds

Investors

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 March Capital Management