Equity Street Capital
Equity Street Capital is a San Diego-based private commercial real estate syndicator that structures Reg D investment offerings for 1,400+ accredited investors across 45+ multifamily, retail, and office properties in 20+ states, managing over $2 billion in assets.
- Company typePrivate
- Founded2003
- HeadquartersSan Diego, United States
- Headcount1–10
- GTM typeB2C
- OfferingServices
What Equity Street Capital does
Equity Street Capital is a San Diego-based private commercial real estate investment firm that structures syndicated investment offerings for accredited investors. The firm is led by co-founders Than Merrill, Paul Esajian, and Konrad Sopielnikow, and has scaled to manage more than $2 billion in real estate assets across over 20 states, spanning 45-plus commercial properties in the multifamily, retail, and office sectors. Its investor base exceeds 1,400 accredited individuals, with minimum investment thresholds typically set at $75,000 to $100,000 per deal and standard hold periods of approximately five years.
The firm operates a Reg D-style syndication model: it identifies, underwrites, and acquires commercial real estate assets, then pools capital from its investor network and selected co-investment partners (including Feldman Equities, Toro Properties, Big V Property Group, and Principal Asset Management on recent deals). Revenue is generated through acquisition and origination fees on new deal closings, recurring asset management fees on deployed equity, and promote or carried-interest participation on successful exits at the end of each five-year hold. Distribution is anchored by the co-founders' public visibility, particularly Than Merrill's media profile from HGTV's "Flip or Flop."
In early 2026 the firm began deploying AI-driven automation for deal underwriting and back-office workflows, an operational modernization intended to scale deal throughput without proportional headcount growth. Recent strategic activity includes the acquisition of 200 Central in St. Petersburg, FL (a 28-story office tower, June 2026), Carriage Park Apartments in Vancouver, WA (April 2026), and Fairfield Town Center in Cypress, TX (December 2025), offset by the 2025 divestiture of Towne Square in Roanoke, VA — collectively signaling both geographic expansion (including first Pacific Northwest entry) and active portfolio recycling toward larger, more institutional-grade assets.
Equity Street Capital firmographics
Firmographics- Name
- Equity Street Capital
- Legal name
- Equity Street Capital, LLC
- Website
- https://equitystreetcapital.com
- Company type
- Private
- Founded year
- 2003
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Equity Street Capital is a San Diego-based private commercial real estate syndicator that structures Reg D investment offerings for 1,400+ accredited investors across 45+ multifamily, retail, and office properties in 20+ states, managing over $2 billion in assets.
- Ownership category
- akta.pro rank
Equity Street Capital industry classification
Industry- Product category
- Commercial Real Estate Investment & Syndication
- NAICS
- Other Financial Vehicles (52599), Other Investment Pools and Funds (5259), Portfolio Management and Investment Advice (523940)
- SIC
- Investors, Nec (6799), Investment Advice (6282)
- akta.pro primary industry
- Capital Markets Advisory (Equity Placement, JV & Recapitalization) (BPAJABAL)
- akta.pro secondary industries
- Core Real Estate (Stabilized/Core-Plus) (FSAAAKAA), Real Estate Funds — Core-Plus (FSANAEAG)
Keywords
Where Equity Street Capital is headquartered
LocationHeadquarters
- HQ city
- San Diego
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Equity Street Capital business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D
Revenue model
- Real Estate Syndication Management: Equity Street Capital generates revenue by pooling capital from individual investors through real estate syndication structures. Investors pay minimums typically ranging from $75,000 to $100,000 per offering. Returns are generated through quarterly cash flow distributions based on ownership stake and property appreciation upon sale at the end of the hold period. The firm also earns asset management and performance fees as the operator managing the underlying properties.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Minimum investment per offering |
Go-to-market motion1 record
Distribution channels2 records
Marketing channels5 records
Equity Street Capital product offering
Product offeringCore offering
Equity Street Capital pools capital from accredited individual investors through real estate syndication structures to acquire and manage commercial real estate assets, including multifamily apartments, retail shopping centers, and office buildings across the U.S. Sun Belt and select growth markets. Investors participate passively with minimums typically ranging from $75,000 to $100,000 per offering and receive quarterly cash flow distributions plus potential appreciation upon sale after a 5+ year hold. The firm also earns asset management and performance fees as the operating sponsor managing the underlying properties.
Product overview
Equity Street Capital offers a single unified investment platform focused on commercial real estate syndication. The core offering enables accredited investors to participate in passive real estate investments across multifamily apartment communities, retail shopping centers, and luxury office buildings. The company manages a diversified portfolio nationwide and provides investors with access through a dedicated investor relations portal, offering quarterly distributions and long-term capital appreciation through institutional-quality commercial real estate investments.
Differentiator
Problem solved
Functional benefit
Products and services
- Commercial Real Estate Syndication
- Passive Real Estate Investing
- Investment Portfolio Management
- Investor Relations Portal
Quantifiable outcome
- $2B+ assets under management across the portfolio
- +4 more outcomes
Companies that use Equity Street Capital
Customer profileNamed customers20 records
Segments3 records
Ideal customer profiles2 records
Equity Street Capital technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
AI capability2 records
Equity Street Capital partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core.
- Feldman EquitiescoreFeldman Equities is a Florida-based real estate investment and development firm specializing in office and mixed-use property acquisition, redevelopment, leasing, and management. Equity Street Capital partnered with Feldman Equities and the Youngquist Family to acquire 200 Central, the tallest office building in Pinellas County, Florida. Feldman Equities brings local market expertise and a hands-on approach to property repositioning in the Florida market.
- Toro PropertiescoreToro Properties (also referenced as Toro Street) is a multifamily real estate investment firm with 45 years of combined experience, having acquired and managed over 90 properties and 20,000 apartment units across 9 states. Equity Street Capital partnered with Toro Properties to acquire Carriage Park Apartments in Vancouver, WA, marking ESC's entry into the Pacific Northwest market. Toro Street principals bring significant local Vancouver submarket expertise, having previously participated in six acquisitions in the area.
- Big V Property GroupcoreBig V Property Group partnered with Equity Street Capital and a fund managed by Principal Asset Management to acquire Fairfield Town Center in Cypress, Texas. Big V serves as the operating partner bringing regional expertise to the Texas retail market.
Scale indicators4 records
Recent moves6 records
Expansion highlights4 records
Equity Street Capital competitors and assessment
Company assessmentMarket position
Strengths4 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Equity Street Capital social profiles
Digital presenceEquity Street Capital financial estimates
Financial estimateRevenue estimate
Valuation estimate
Equity Street Capital leadership team
Management profileNumber of profiles
Profiles9 records
Equity Street Capital funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Equity Street Capital M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Equity Street Capital
What does Equity Street Capital do?
Equity Street Capital pools capital from accredited individual investors through real estate syndication structures to acquire and manage commercial real estate assets, including multifamily apartments, retail shopping centers, and office buildings across the U.S. Sun Belt and select growth markets. Investors participate passively with minimums typically ranging from $75,000 to $100,000 per offering and receive quarterly cash flow distributions plus potential appreciation upon sale after a 5+ year hold. The firm also earns asset management and performance fees as the operating sponsor managing the underlying properties.
Is Equity Street Capital a public or private company?
Equity Street Capital is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Equity Street Capital founded?
Equity Street Capital was founded in 2003. It employs 1 to 10 people.
Where is Equity Street Capital based?
Equity Street Capital is headquartered in San Diego, United States, in the North America region.
How does Equity Street Capital make money?
One revenue line is on record: real Estate Syndication Management.
Does Equity Street Capital have an API?
No public API is recorded for Equity Street Capital.
What industry is Equity Street Capital in?
Equity Street Capital's product category is Commercial Real Estate Investment & Syndication. Its primary akta.pro industry code is BPAJABAL, Capital Markets Advisory (Equity Placement, JV & Recapitalization), with a secondary code of FSAAAKAA, Core Real Estate (Stabilized/Core-Plus). Its NAICS code is 52599 and its SIC code is 6799.