What CPG Real Estate does

CPG Real Estate is a private equity real estate investment firm founded in 1998 and headquartered in West Palm Beach, Florida (legal entity: Caribbean Property Group LLC). The firm manages capital for institutional investors, hedge funds, family offices, and high net worth individuals, with a regional focus on Latin America and the Caribbean and a growing presence in the United States and Mexico. CPG has sponsored deals with aggregate equity commitments in excess of $1.0 billion across more than $5.0 billion of total transactions, making it the most active institutional real estate investor in the Latin America/Caribbean region. The firm's competitive positioning is built on off-market deal sourcing through long-standing relationships with bank sellers, capital partners, and local operating partners across the region.

CPG operates four product verticals: Commercial (office, retail, industrial, including a 2.2 million sq ft warehouse portfolio in Puerto Rico and Global Park in Costa Rica), Hospitality (3,000+ hotel keys including Dorado Beach — a Ritz-Carlton Reserve with the highest ADR in the Ritz-Carlton system worldwide, plus Marriott, Hilton, and Decameron-branded assets), Mixed Use & Development (master-planned resorts and lifestyle centers), and Distressed Debt (over $2.0 billion in non-performing loan portfolios acquired from Puerto Rico banks). The firm employs a fully integrated in-house operating platform consisting of subsidiaries CPG Island Servicing (loan servicing/restructuring), Aurora Properties (REO sales), CPG Hospitality (hotel asset management), and a JV interest in Alójica (Mexico lodging). Revenue is generated through management fees and carried interest on discretionary institutional real estate funds (notably the $472M CREOF co-sponsored with Goldman Sachs and Perry Capital in 2005) and standalone investment partnerships. CPG's principals have worked together for over 20 years, with most of the executive team tenured 10+ years, distributed across offices in New York, West Palm Beach, San Juan, and Mexico City.

Name

CPG Real Estate

Legal name

Caribbean Property Group LLC

Website

https://cpgrealestate.com

Company type

Private

Founded year

1998

Operating status

Operating

Headcount range

51–100 employees

Short description

CPG Real Estate is a private equity real estate firm founded in 1998 that invests across Latin America, the Caribbean, and the United States on behalf of institutional investors and family offices. The firm manages commercial, hospitality, mixed-use, and distressed debt portfolios via wholly-owned operating subsidiaries.

Ownership category

akta.pro rank

Product category

Real Estate Private Equity

NAICS

Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Lessors of Other Real Estate Property (53119), Portfolio Management and Investment Advice (523940)

SIC

Real Estate Dealers (For Their Own Account) (6532), Investors, Nec (6799), Lessors Of Real Property, Nec (6519)

akta.pro primary industry

Corporate Strategic Real Assets & Infrastructure Venture Investing (FSANAHAN)

akta.pro secondary industries

Real Estate Capital Markets Brokerage (Debt & Equity Placement) (FSAEAJAK), Capital Markets Advisory (Equity Placement, JV & Recapitalization) (BPAJABAL)

Keywords

• Private equity real estate
• Distressed debt investing
• Hospitality asset management
• Commercial real estate investment
• Real estate fund management

Headquarters

HQ city

West Palm Beach

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Fund Management and Carried Interest: CPG generates returns through management fees and carried interest from discretionary institutional real estate funds and standalone investment partnerships on behalf of real estate investment advisors, hedge funds, family offices and high net worth individuals.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

CPG Real Estate is a private equity real estate investment firm that sources, acquires, develops, and asset-manages commercial, hospitality, mixed-use, and distressed debt real estate investments in Latin America and the Caribbean on behalf of institutional capital partners, family offices, and high net worth individuals. The firm invests through discretionary institutional real estate funds (such as the $472 million Caribbean Real Estate Opportunity Fund co-sponsored with Goldman Sachs and Perry Capital) and standalone investment partnerships, generating returns through management fees and carried interest.

Product overview

CPG Real Estate operates as a diversified real estate investment platform offering four core product lines: Commercial (office, retail, and industrial properties), Hospitality (luxury hotels and resorts), Mixed Use & Development (master-planned communities), and Distressed Debt (non-performing loans and REO assets). The company provides integrated asset management through specialized services including CPG Island Servicing for loan servicing and Aurora Properties for REO sales. CPG Hospitality manages the hospitality portfolio, while commercial operations span warehouse, retail, and office properties across Puerto Rico and Central America. The distressed debt business, managed from San Juan with back-office support from West Palm Beach, has acquired over $2.0 billion in distressed assets through off-market transactions with major banks.

Differentiator

Problem solved

Functional benefit

Brands

• CPG Island Servicing (CPGIS): Distressed debt and special servicing business handling loan restructurings, foreclosures, bankruptcies, collections and asset management for loan portfolios
• Aurora Properties
• CPG Hospitality
• Alójica

Products and services

• Caribbean Real Estate Opportunity Fund (CREOF) A $472 million discretionary institutional real estate opportunity fund dedicated to Central America and the Caribbean, co-sponsored with Goldman Sachs and Perry Capital, that acquired income-producing assets in Aruba, Costa Rica, Panama, Puerto Rico, Dominican Republic, and Trinidad. The fund targeted institutional capital partners and produced a combined deal IRR of 83% and 2.7x equity multiple on the Puerto Rico Retail Portfolio sale to DDR in 2005.
• CPG Island Servicing (CPGIS) A specialized loan asset management and restructuring operation based in San Juan, Puerto Rico, handling loan restructurings, foreclosures, bankruptcies, collections, and asset management for distressed loan portfolios. Together with CPG professionals, CPGIS handles day-to-day operations, management, sales, leasing, dispositions, and development of REO properties, augmented by CPG's West Palm Beach office for back-office reporting, accounting, and selective primary servicing functions.
• CPG Hospitality A specialized division of CPG Real Estate formed in 2017 by Oriol Gimenez and Marta Molina Seal, focused on the investment and asset management of hospitality assets throughout the Caribbean and Central America. CPG Hospitality oversees more than 3,000 hotel keys and hospitality-related assets, including Ritz-Carlton, Marriott, Hilton, and Decameron-branded properties.
• Aurora Properties A wholly-owned marketing and sales platform launched in 2011 to market and sell both residential and commercial REO properties acquired through CPG's distressed debt transactions. Aurora Properties provides a dedicated sales channel for REO dispositions in Puerto Rico.
• Alójica A real estate investment management joint venture between CPG Hospitality and partners, focused exclusively on lodging real estate opportunities in Mexico. Oriol Gimenez and Marta Molina Seal serve as Managing Partners of Alójica.
• Discretionary Institutional Real Estate Funds CPG sponsors discretionary institutional real estate funds that invest in income-producing assets, selective development opportunities, distressed debt, and special situations across retail, office, industrial, hospitality, and residential projects in Latin America and the Caribbean. The flagship fund is the $472 million Caribbean Real Estate Opportunity Fund (CREOF) co-sponsored with Goldman Sachs and Perry Capital.
• Standalone Investment Partnerships CPG sponsors standalone investment partnerships on behalf of real estate investment advisors, hedge funds, family offices, and high net worth individuals. These partnerships are deal-by-deal, off-market, and privately negotiated, with multi-year contract terms and capital sourced through long-standing capital partner relationships.

Quantifiable outcome

• 83% combined deal IRR and 2.7x equity multiple on the Puerto Rico Retail Portfolio sale to DDR in 2005
• +3 more outcomes

Named customers18 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered core.

• The Prisa GroupcoreStrategic or Co-development PartnerLongstanding local development partner of the Pritzker family in Puerto Rico. Partnered with CPG in the acquisition and development of Dorado Beach, including Dorado Beach, a Ritz-Carlton Reserve, and multiple residential offerings. Prisa Group is led by Friedel Stubbe.
• Enjoy GroupcoreStrategic or Co-development PartnerLocal operating partner in Costa Rica for hospitality assets. Fiesta Resort is operated by Enjoy Group and asset managed by CPG Hospitality. CPG has successfully partnered with Enjoy Group on Costa Rican hotel investments.
• Garnier & GarniercoreStrategic or Co-development PartnerLocal and regional partner in Costa Rica for real estate investments and development.
• DecameroncoreStrategic or Co-development PartnerHotel brand partner in Panama for the Royal Decameron Beach & Golf Resort, an 820-room all-inclusive hotel and residential development. CPG partnered with Decameron on this hospitality investment.

Scale indicators9 records

Recent moves11 records

Expansion highlights5 records

Direct peers

• GTIS Partners: US-based private equity real estate investment firm with deep Latin America and US focus across opportunistic, value-add, and development strategies. Closest comparable to CPG in geographic and strategy mix.
• Pembrook Capital Management: Privately held real estate investment manager focused on debt and equity across US opportunistic and value-add strategies, with active senior and transitional lending. Comparable to CPG's distressed debt and special situations focus.
• Square Mile Capital Management: Real estate investment platform investing in debt and equity across opportunistic and value-add strategies, with significant distressed debt and special situations capability. Directly comparable to CPG's debt-led investment approach.
• Torchlight Investors: Real estate-focused investment manager specializing in commercial real estate debt and equity strategies. Comparable to CPG's CRE debt focus, and notably has alumni (Michael Rader, Eric Sitman) in CPG's investment team.
• Walton Street Capital: Private equity real estate investment firm focused on value-add and opportunistic strategies across the US and select international markets. Comparable as an institutional PE real estate platform with similar investment style.
• Mesa West Capital: Real estate debt investment manager focused on transitional, value-add, and opportunistic senior loans. Comparable to CPG's debt investment operations, though Mesa West is debt-only and US-focused.

Broad incumbents

• Cerberus Capital Management: Large alternative asset manager with substantial real estate and distressed debt operations. Comparable to CPG in distressed real estate but with significantly broader portfolio and far larger AUM.
• Brookfield Asset Management: Global alternative asset manager with extensive Latin America real estate operations and a broad opportunistic/credit platform. Comparable in geography and asset class but materially larger scale than CPG.
• AEW Capital Management: Global real estate investment manager with significant opportunistic, value-add, and debt strategies including US/LatAm exposure. Overlaps with CPG on retail, hospitality, and debt investing at a broader scale.
• Angelo, Gordon & Co. Alternative investment manager with deep real estate and credit/distressed debt platforms. Comparable to CPG's combination of opportunistic equity and distressed real estate debt, but across a broader mandate.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/caribbean-property-group

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries4 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 CPG Real Estate