Square2
Square2 is a Miami-based private real estate investment and asset management firm that acquires, repositions and disposes of office and mixed-use properties in Florida through co-investments with institutional and high net-worth partners.
- Company typePrivate
- Founded2019
- HeadquartersMiami, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Square2 does
Square2 (legal entity SQUARE2CAPITAL, LLC) is a private real estate investment and asset management firm headquartered in Miami, Florida. The firm pursues a vertically integrated operating model centered on acquiring underperforming office and mixed-use assets in Florida's major population centers — including Miami, Coral Gables, Naples and Aventura — at significant discounts to replacement cost, repositioning them through capital improvements, on-site management presence, aggressive leasing, and tenant credit upgrades, then disposing at premium valuations. The firm's reported track record, attributed to principals Jay M. Caplin and Michael E. Manno, includes leveraged IRRs exceeding 32% since 2009 with a 2.3x average projected equity multiple, documented across multiple completed projects (Aventura View, Suntrust Building, Park Place Office, Promenade, 150 Alhambra).
The business generates revenue through three streams: asset management fees on more than 2 million square feet under management for both own accounts and third-party clients; carried interest and performance-based returns on successful repositionings and dispositions; and transaction-level profits from acquisitions and exits. Pricing is individually negotiated on a deal-by-deal basis with co-investment partners — including institutional investors, pension fund advisors, life insurance companies, European family offices, and high net-worth private investors — and services are quoted per engagement. Go-to-market is principal-led, relying on 35-year industry relationships and direct referrals rather than digital marketing channels.
In addition to its investment thesis, Square2 offers third-party property and asset management services (on-site building managers, operational improvements, accounting, reporting, tenant retention) and an advisory and representation practice (tenant representation, acquisition due diligence, underwriting, real estate analysis). The firm has 11–50 employees structured around two principals, a controller, operations manager, and accounting staff. There is no public listing, no disclosed external funding, and no parent company; ownership appears concentrated with the founding principals.
Square2 firmographics
Firmographics- Name
- Square2
- Legal name
- SQUARE2CAPITAL, LLC
- Website
- https://s2c.com
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Square2 is a Miami-based private real estate investment and asset management firm that acquires, repositions and disposes of office and mixed-use properties in Florida through co-investments with institutional and high net-worth partners.
- Ownership category
- akta.pro rank
Square2 industry classification
Industry- Product category
- Commercial Real Estate Investment Management
- NAICS
- Nonresidential Property Managers (531312), Lessors of Other Real Estate Property (53119)
- SIC
- Lessors Of Real Property, Nec (6519), Real Estate Dealers (For Their Own Account) (6532)
- akta.pro primary industry
- Office Real Estate Asset Management (BPAJAMAG)
- akta.pro secondary industry
- Real Estate Public-Private Partnership (PPP) & Infrastructure-Adjacent Real Estate Advisory (BPAJANAL)
Keywords
Where Square2 is headquartered
LocationHeadquarters
- HQ city
- Miami
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Square2 business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Supply Chain, Marketing or Sales, Others
Revenue model
- Asset Management Fees: Ongoing management fees charged to institutional and private investors for property and asset management services.
- Carried Interest / Performance Fees: Performance-based returns from successful property repositioning and disposition, generating leveraged IRRs exceeding 32% with average equity multiples of 2.3x.
- Property Disposition Profits: Profits realized from buying, repositioning, and selling office properties at significant premiums (e.g., Aventura View sold for nearly double purchase price).
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Custom investment partnerships |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels3 records
Square2 product offering
Product offeringCore offering
Square2 is a private real estate investment and asset management firm that acquires, repositions, and disposes of office and mixed-use properties in Florida's major population centers. The firm offers three integrated services: Transformational Investing (acquiring undervalued office assets at discounts to replacement cost), Property & Asset Management (on-site management, operational improvements, accounting, and tenant retention for owned and third-party assets), and Advisory & Representation (tenant and investor advisory including acquisition due diligence and underwriting). The firm currently manages over 2 million square feet for own accounts and third-party clients.
Product overview
Square2 is a private real estate investment and asset management firm offering a unified platform of services centered on transformational investing in office and mixed-use properties in Florida. The core offering consists of three interconnected services: (1) Transformational Investing — the investment thesis and deal execution capability that identifies and acquires underperforming assets; (2) Property & Asset Management — operational services including on-site management, tenant relations, and cost optimization for assets under ownership and for third-party clients managing over 2 million square feet; and (3) Advisory & Representation — tenant and investor advisory services drawing on the same owner-operator expertise. Together, these form a vertically-integrated investment and operating model where the firm acquires assets, implements value-creation strategies through hands-on management, and dispositions them for transformational returns.
Differentiator
Problem solved
Functional benefit
Products and services
- Property & Asset Management Full-service property and asset management for institutional, international, and high net-worth private property owners, including on-site building managers, operational improvements, accounting, reporting, and tenant retention programs.
- Advisory & Representation Real estate advisory and representation services including tenant representation, acquisition due diligence, underwriting, and real estate analysis and research for tenants, investors, and owners.
- Transformational Investing Investment platform focused on acquiring office and mixed-use assets in Florida's major population centers at significant discounts to replacement cost, implementing strategies to modify an asset's form or appearance for transformational results, typically through joint ventures with institutional and high net-worth partners.
Quantifiable outcome
- Leveraged IRRs in excess of 32% since 2009
- +4 more outcomes
Companies that use Square2
Customer profileNamed customers3 records
Segments4 records
Ideal customer profiles4 records
Square2 technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Square2 partnerships and signals
Strategic signalScale indicators4 records
Recent moves6 records
Expansion highlights4 records
Square2 competitors and assessment
Company assessmentBroad incumbents
- Avison Young: Private commercial real estate services firm offering investment sales, leasing, property management, and advisory. Comparable service portfolio to SQUARE2 with broader geographic reach.
- Cushman & Wakefield: Global commercial real estate services platform covering investment sales, valuation, property management, and advisory. Directly comparable on the third-party property management and advisory service lines that SQUARE2 offers.
- Lincoln Property Company: One of the largest private commercial real estate firms in the U.S., with extensive property management, leasing, and investment operations. Comparable on third-party property management and investment, particularly for institutional office assets.
- Colliers International: Global commercial real estate services firm offering investment sales, property management, advisory, and leasing. Competes with SQUARE2's advisory and asset management offerings, though operates at much greater scale and geographic breadth.
- Newmark Group: Major commercial real estate services and investment firm with capital markets, leasing, and property management practices. Overlaps with SQUARE2 on office investment sales, leasing, and asset management, particularly in Florida.
- Marcus & Millichap: Commercial real estate investment sales and financing firm specializing in office, multifamily, and other asset classes. Comparable on the transaction/principal-investing side and represents a potential buyer profile for SQUARE2's disposition properties.
Regional players
- Stiles Corporation: Florida-focused full-service commercial real estate firm with development, leasing, property management, and capital markets capabilities. Comparable in regional Florida concentration and vertically integrated owner/operator model, though larger and more diversified across asset classes.
Direct peers
- Terranova Corporation: Miami-based private commercial real estate firm specializing in advisory, leasing, property management, and investment sales for South Florida properties. Most directly comparable given shared Florida focus, office specialization, and vertically integrated service model.
- Maddux CRE: Smaller Florida-focused commercial real estate firm offering brokerage, property management, and investment advisory services. Comparable in size and regional focus to SQUARE2's third-party services business.
- Atlantic Pacific Companies: Private real estate investment and development firm active in Florida and the Southeast, focused on multifamily, mixed-use, and commercial assets. Comparable as a Florida-concentrated private operator pursuing value-add repositioning strategies.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
Square2 social profiles
Digital presenceSquare2 financial estimates
Financial estimateRevenue estimate
Valuation estimate
Square2 leadership team
Management profileNumber of profiles
Profiles6 records
Square2 funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Square2 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 Square2
What does Square2 do?
Square2 is a private real estate investment and asset management firm that acquires, repositions, and disposes of office and mixed-use properties in Florida's major population centers. The firm offers three integrated services: Transformational Investing (acquiring undervalued office assets at discounts to replacement cost), Property & Asset Management (on-site management, operational improvements, accounting, and tenant retention for owned and third-party assets), and Advisory & Representation (tenant and investor advisory including acquisition due diligence and underwriting). The firm currently manages over 2 million square feet for own accounts and third-party clients.
Is Square2 a public or private company?
Square2 is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Square2 founded?
Square2 was founded in 2019. It employs 11 to 50 people.
Where is Square2 based?
Square2 is headquartered in Miami, United States, in the North America region.
How does Square2 make money?
Three revenue lines are on record. Asset Management Fees are the primary driver. The others are carried Interest / Performance Fees and property Disposition Profits.
Who are Square2's main competitors?
Broad incumbents on record are Avison Young, Cushman & Wakefield, Lincoln Property Company, Colliers International, Newmark Group and Marcus & Millichap. Stiles Corporation is listed as a regional player. Direct peers are Terranova Corporation, Maddux CRE and Atlantic Pacific Companies.
Does Square2 have an API?
No public API is recorded for Square2.
What industry is Square2 in?
Square2's product category is Commercial Real Estate Investment Management. Its primary akta.pro industry code is BPAJAMAG, Office Real Estate Asset Management, with a secondary code of BPAJANAL, Real Estate Public-Private Partnership (PPP) & Infrastructure-Adjacent Real Estate Advisory. Its NAICS code is 531312 and its SIC code is 6519.