What CGA Capital does

CGA Capital is a privately-held investment and asset management firm headquartered in Baltimore, Maryland, that provides private capital and financing solutions for mission-critical single-tenant corporate, governmental, healthcare, and special purpose real estate assets throughout the United States. Operating for approximately 34 years since founding around 1990, the firm has accumulated $34 billion in closed transactions, with individual deal sizes ranging from $10 million to over $1 billion. CGA Capital's primary counterparties are space users, institutional investors, and developers, for whom it structures capital solutions intended to reconcile their differing objectives across long-duration real estate assets.

The firm's business model rests on two revenue streams: asset management fees on a portfolio exceeding $14 billion of managed debt assets, and long-duration investment returns from a net leased real estate book exceeding $5 billion, with lease terms up to 50 years. Its go-to-market is relationship-based, direct institutional sales, with transactions negotiated bilaterally rather than through intermediaries, digital channels, or retail distribution. The company does not operate a proprietary technology platform, software product, or AI-driven system; delivery is grounded in financial structuring expertise and accumulated domain specialization across its four target real estate verticals.

Customer segmentation is vertical, organized across four primary use cases — corporate real estate, governmental facilities, healthcare real estate, and special purpose assets. The firm concentrates exclusively on the United States market, runs on a small team of 11-50 employees relative to its managed capital, and reports continued deal flow including approximately $2 billion of newly funded projects in the most recent disclosed period. Revenue, pricing, ownership structure, and leadership composition are not publicly disclosed.

Name

CGA Capital

Website

https://cgacapital.com

Company type

Private

Founded year

1990

Operating status

Operating

Headcount range

11–50 employees

Short description

CGA Capital is a Baltimore-based private capital firm providing financing and asset management for mission-critical single-tenant corporate, governmental, healthcare, and special purpose real estate assets across the United States, with $34 billion in cumulative closed transactions.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Finance

NAICS

Funds, Trusts, and Other Financial Vehicles (525), Other Financial Investment Activities (5239), Portfolio Management and Investment Advice (523940)

SIC

Investors, Nec (6799), Mortgage Bankers & Loan Correspondents (6162)

akta.pro primary industry

Private Credit / Direct Lending (FSAAAHAG)

akta.pro secondary industries

Infrastructure & Project Finance Private Debt (FSANADAH), Real Estate Capital Markets Advisory (Debt/Equity Placement, Refinancing) (BPAJANAE), Capital Markets Advisory (Equity Placement, JV & Recapitalization) (BPAJABAL)

Keywords

• Private capital financing
• Commercial real estate lending
• Net lease investment
• Debt asset management
• Single-tenant real estate

Headquarters

HQ city

Baltimore

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Asset Management Fees: CGA Capital generates revenue as asset manager for over $14 billion of debt assets, charging management fees typical of private capital firms.
2. Net Lease Investment Returns: As an investor in over $5 billion of net leased projects with terms up to 50 years, CGA Capital generates returns through long-term lease income and asset appreciation.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

CGA Capital is a private capital provider that finances and invests in mission-critical single-tenant corporate, governmental, healthcare, and special purpose real estate assets throughout the United States. The firm acts as asset manager for over $14 billion of debt assets and as an investor in over $5 billion of net leased projects featuring terms up to 50 years, with closed transactions ranging from $10 million to greater than $1 billion. Its offering tailors capital structures to balance the respective objectives of space users, institutional investors, and developers.

Product overview

CGA Capital operates as a dedicated private capital provider offering financing and investment services for mission-critical single-tenant corporate, governmental, healthcare, and special purpose real estate assets throughout the United States. The firm manages over $14 billion in debt assets and has invested over $5 billion in net leased projects with terms up to 50 years, ranging from $10 million to over $1 billion in transaction size. The company does not offer discrete named software products or modules; its offering consists of financial services and capital solutions tailored to meet the objectives of space users, investors, and developers.

Differentiator

Problem solved

Functional benefit

Products and services

• Private Capital Financing for Mission-Critical Single-Tenant Real Estate Tailored private capital and financing solutions for mission-critical single-tenant corporate, governmental, healthcare, and special purpose real estate assets throughout the United States, with transactions ranging from $10 million to greater than $1 billion. Structures are designed to balance the respective objectives of space users, investors, and developers.
• Debt Asset Management Asset management services for over $14 billion of debt assets, charging management fees typical of private capital firms. The firm acts as asset manager aligning interests with partners and counterparties for the long term.
• Net Lease Investment Direct investment in net leased projects featuring terms up to 50 years, with over $5 billion invested. Generates long-term lease income and asset appreciation returns for the firm and its counterparties.

Quantifiable outcome

• Transaction sizes ranging from $10 million to greater than $1 billion
• +2 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators7 records

Recent moves4 records

Expansion highlights2 records

Direct peers

• W. P. Carey: Public net-lease REIT specializing in sale-leaseback and single-tenant corporate real estate financing across industrial, retail, and office. Direct competitor to CGA's mission-critical single-tenant capital strategy, though at materially larger scale and with permanent public capital.
• Realty Income: The largest public net-lease REIT ('The Monthly Dividend Company') focused on long-term lease financing of single-tenant commercial real estate. Closest functional equivalent to CGA's net-lease investment and asset-management model, with a 'net lease' structure and long-duration alignment that mirrors CGA's offering.
• Essential Properties Realty Trust: Public net-lease REIT focused on mission-critical, single-tenant properties with sale-leaseback origination. The most thematic comparable to CGA's mission-critical single-tenant positioning, particularly in specialty and healthcare-adjacent use cases.
• STORE Capital: Private (acquired by Oak Street in 2022) net-lease and sale-leaseback financier of mission-critical single-tenant commercial real estate across corporate, healthcare, and special-purpose sectors. Highly comparable operating model to CGA, often cited as a private-market analog.
• National Retail Properties: Public net-lease REIT ('NNN') focused on single-tenant retail properties. Comparable to CGA in net-lease structure and single-tenant underwriting discipline, though narrower in sector focus.
• Ladder Capital: Publicly traded commercial real estate finance REIT focused on senior secured loans and net-lease equity investments. Comparable to CGA on both the debt asset management and net-lease equity investment dimensions of its business.

Broad incumbents

• Walker & Dunlop: Large publicly traded commercial real estate finance and advisory firm. Comparable to CGA on the debt placement and CRE capital advisory side, though broader (multifamily, debt brokerage, servicing) and not net-lease specialized.
• JLL Capital Markets: Global commercial real estate services and investment banking platform with a large debt and equity placement practice. Comparable to CGA on the institutional capital placement and sale-leaseback advisory side, though within a much broader CRE services franchise.
• Apollo Commercial Real Estate Finance: Subsidiary of Apollo Global Management focused on commercial real estate debt investments. Comparable to CGA on the $14B debt AUM side; backed by Apollo's broader platform provides scale CGA cannot match.
• CBRE Capital Markets: Investment-banking and capital-markets arm of the world's largest commercial real estate services firm. Comparable to CGA on the debt/equity placement and sale-leaseback advisory side across institutional capital markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

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 CGA Capital