Longacre Asset Management

What Longacre Asset Management does

Longacre Asset Management is an institutional joint venture between PH Realty Capital and Rockledge that acquires and operates distressed and special-situations real estate—primarily multifamily (rent-regulated workforce, free-market, and luxury) and extended-stay/select-service hospitality—across 13 U.S. states. The platform targets 300+ unit assets in major U.S. markets where the principals already operate, executing transactions directly with special servicers, CMBS workout groups, lenders, and sponsors as a principal buyer that can close on the timelines those counterparties require. The firm reports $1.2B in assets under management, 120+ properties, and 10,000+ units under ownership or operation.

The business model is a vertically integrated real estate investment vehicle: revenue and returns are generated through acquisition, repositioning, and operation of distressed assets, supplemented by management of institutional capital. The platform combines an acquisition function, in-house property management and asset management, and an Agora-powered investor portal for capital partner reporting. Distribution is entirely relationship-driven, relying on direct principal outreach rather than broad marketing. Customer segments are horizontal across the institutional capital partner base and the counterparty base (sellers, brokers, lenders, special servicers, and sponsors). Pricing and management economics are not publicly disclosed, consistent with the firm's private institutional structure.

Recent strategic activity demonstrates a clear escalation in deal scale and complexity: a $180M acquisition of a 24-building NYC workforce multifamily portfolio in September 2024, a $192.5M purchase of 34 rent-regulated Bronx properties from a Related Companies fund in May 2025, and a 541-unit Houston workforce community acquisition in May 2026. The lean 5-employee organization is led by principals Peter Hungerford (Founder, PH Realty Capital), David Kaye and Joe Listhaus (Co-Founders, Rockledge, since 2013), and Geoffrey Kayton (CFO). Technical infrastructure is minimal—limited to an Agora investor portal and a company website—with no disclosed proprietary technology, data assets, or AI/ML capabilities.

Name

Longacre Asset Management

Legal name

Longacre Asset Management

Website

https://longacremgmt.com

Company type

Private

Operating status

Operating

Headcount range

1–10 employees

Short description

Longacre Asset Management is an institutional joint venture between PH Realty Capital and Rockledge that acquires and operates distressed and special-situations multifamily and hospitality real estate across 13 U.S. states, serving institutional capital partners and transacting directly with special servicers, lenders, and sponsors.

Ownership category

akta.pro rank

Product category

Distressed Real Estate Investment

NAICS

Nonresidential Property Managers (531312), Residential Property Managers (531311), Portfolio Management and Investment Advice (523940), Funds, Trusts, and Other Financial Vehicles (525)

SIC

Real Estate Dealers (For Their Own Account) (6532), Real Estate Agents & Managers (For Others) (6531), Investment Advice (6282)

akta.pro primary industry

Real Estate Portfolio & Fund Management (Institutional/REIT/PE) (BPAJAMAJ)

akta.pro secondary industries

Hospitality (Hotels & Resorts) Asset Management (BPAJAMAE), Real Estate Debt & Mortgage Strategies (FSAAAKAC)

Keywords

• Distressed real estate
• Multifamily acquisitions
• Special situations investing
• Workforce housing
• Hospitality investments

Headquarters

HQ city

New York

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 and Investment Returns: Longacre operates as a real estate investment vehicle generating returns through acquisition, repositioning, and operation of distressed multifamily and hospitality assets. Revenue is derived from asset appreciation, operational income from property portfolios, and management of institutional capital.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Longacre Asset Management acquires and operates distressed and special-situations real estate across the United States, focusing on multifamily (rent-regulated workforce, free-market, and luxury) and extended-stay/select-service hospitality assets of 300+ units in major U.S. markets. The platform deploys principal capital to execute lender-driven workouts, operational turnarounds, and complex transactions as a vertically integrated owner-operator from acquisition through property management. It serves institutional capital partners seeking exposure to complex real estate situations alongside operators who control the full ownership stack.

Product overview

Longacre Asset Management operates as a single unified investment platform — an institutional joint venture between PH Realty Capital and Rockledge — focused on distressed and special-situations real estate, combining a principal acquisition vehicle with vertically integrated property operations and an investor portal. The platform pursues large-scale multifamily (rent-regulated workforce, free-market, and luxury) and extended-stay/select-service hospitality acquisitions, executing complex transactions as principal and managing the full ownership stack through in-house operations. The core offering comprises the acquisition platform, the property operations capability, and the investor-facing portal.

Differentiator

Problem solved

Functional benefit

Brands

• Haven Portfolio: Extended-stay hospitality portfolio operated under the Haven brand, including properties in Colorado Springs CO, Eagan MN, Birmingham AL, Lombard IL, and St. Louis MO.

Quantifiable outcome

• $180M 24-building NYC acquisition (2024)
• +1 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Partnerships

Two partnerships are on record, tiered core.

• PH Realty CapitalcoreStrategic or Co-development PartnerPH Realty Capital, founded by Peter Hungerford, is a New York-based real estate investment firm focused on workforce and rent-regulated multifamily acquisitions and special-situations investing. PH Realty Capital and Rockledge formed Longacre as the institutional joint venture vehicle for large-scale distressed real estate acquisitions across the United States.
• RockledgecoreStrategic or Co-development PartnerRockledge, co-founded in 2013 by David Kaye and Joe Listhaus, is a vertically integrated real estate operating company with approximately 7 million square feet across multifamily, hospitality, and commercial real estate. Rockledge and PH Realty Capital created Longacre as the national vehicle for distressed and special-situations acquisitions.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• Greystone & Co. Greystone is a commercial real estate finance, lending, and advisory firm active in multifamily special situations and CMBS workout transactions, overlapping with Longacre on the lender/principal interface.

Broad incumbents

• Starwood Capital Group: Starwood Capital operates multiple opportunistic and value-add real estate funds with multifamily and hospitality mandates, comparable in strategy but operating at substantially greater scale across multiple asset classes.
• TPG Real Estate Partners: TPG RE Partners pursues value-add and opportunistic real estate equity strategies with thematic exposure to housing and hospitality, serving a similar institutional LP base as Longacre.
• Brookfield Asset Management: Brookfield runs large opportunistic real estate strategies and is an active acquirer of distressed and transitional multifamily and hospitality assets, comparable in strategy though vastly larger and more diversified than Longacre.
• Blackstone Real Estate: Blackstone is the largest institutional real estate investor globally with a sizable multifamily and opportunistic fund program; it overlaps with Longacre in distressed multifamily and select-service hospitality but operates at much greater scale and breadth.

Direct peers

• CWCapital Asset Management: CWCapital is one of the largest special servicers and acquirers of distressed CMBS-backed multifamily assets, operating as principal with workout expertise — the same counterparty role Longacre addresses on the buy side.
• Bedrock Real Estate: Bedrock is a vertically integrated urban real estate operator with deep multifamily and distressed-asset experience in major markets, comparable in operating model and principal-capital posture to Longacre.
• CIM Group: CIM Group is a vertically integrated real estate and infrastructure operator pursuing opportunistic urban multifamily and mixed-use investments across U.S. markets, with similar institutional capital structures and turnaround operational capabilities.
• Ares Real Estate Group: Ares pursues opportunistic and value-add multifamily and hospitality investments through private equity funds, with a strong track record in special situations and lender-driven transactions directly comparable to Longacre's mandate.
• Pretium Partners: Pretium is a major institutional buyer of distressed and special-situations single-family and multifamily housing, operating a vertically integrated acquisition-to-property-management platform analogous to Longacre's multifamily mandate and scaled institutional capital base.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/longacremgmt

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries1 record

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 Longacre Asset Management