What Paramount Specialty Finance does

Paramount Specialty Finance (PSF) is a privately held, Austin, Texas-based real estate finance company founded in 2015 by Brian Barrow and Joel Waxman that specializes in single-tenant, net-leased (STNL) properties. The company operates an integrated net lease lending and investment platform with six product lines: the NNN Platform umbrella, Built-to-Suit and Ground Lease Loans (up to 100% loan-to-cost, 80% loan-to-value, $1M-$50M+), Built-to-Suit Joint Venture Equity (12%-18% preferred return plus profit participation), Built-to-Suit Preferred Equity (15%-20% range, up to 100% LTC), Acquisition Bridge Loans (8.5%-12% interest, part-cash/part-PIK), and Acquisitions & Special Situations (sale-leasebacks, blend & extends, distressed purchases, $4M-$40M).

PSF holds all investments on the balance sheet of committed-capital entities, with approximately $1 billion in committed capital and over $1 billion in cumulative investments deployed across more than 200 transactions since inception — zero foreclosures since 2015. The 2018 formation of Paramount Development Finance Partners (PDFP), a joint venture with Guggenheim Investment Partners, expanded PSF's capacity to pursue larger opportunities. Repeat borrower rate rose from 65% in 2021 to 75% in the first half of 2022, indicating high customer retention.

The company targets net lease developers, sponsors, and corporate/franchisee tenants across retail, quick-service restaurant, industrial, medical, and automotive verticals — with a customer roster that includes McDonald's, Wawa, Chipotle, Starbucks, Dutch Bros, Dollar General, Chase, Bank of America, DaVita, Tesla, and Caliber Collision. The go-to-market is direct, sales-led origination through an in-house business development team (Matt Brown, Director of Business Development; Adam Thomas added in October 2023 for national growth), supplemented by content marketing and industry panel participation. Revenue derives from origination fees (1%), exit fees (0-3%), interest income on balance-sheet loans and equity positions, and profit participation on JV equity deployments.

Name

Paramount Specialty Finance

Legal name

Paramount Specialty Finance

Website

https://paramountfin.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Commercial Real Estate Finance

NAICS

Funds, Trusts, and Other Financial Vehicles (525)

SIC

Mortgage Bankers & Loan Correspondents (6162), Real Estate Dealers (For Their Own Account) (6532)

akta.pro primary industry

Direct Lending — Specialty Finance (Consumer/SME Lending Platforms) (FSAHAJAF)

akta.pro secondary industry

Specialty Finance / Structured Credit (FSANADAE)

Keywords

• Net lease lending
• Build-to-suit financing
• Ground lease loans
• Commercial real estate finance
• Single-tenant properties

Headquarters

HQ city

Austin

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Build-to-Suit & Ground Lease Loans: Interest income from BTS and ground lease loans with loan sizes $1M-$50M+, up to 100% LTC, 80% LTV, with 1% origination fee and 0-3% exit fee
2. BTS Joint Venture Equity: Preferred return on capital invested plus profit participation with developers. PSF provides 90%-100% of project budget and earns preferred return (12%-18%) plus profit split with sponsor
3. BTS Preferred Equity: Equity investment below senior lender, up to 100% LTC, with interest in 15%-20% range and 1%-3% fees for programmatic capital commitments
4. Acquisition Bridge Loans: High attachment point bridge loans up to 90% LTC/80% LTV with interest rates of 8.5%-12% (part cash/part PIK), terms up to 18 months
5. Acquisitions & Special Situations: Direct asset purchases, sale-leasebacks, distressed investing, portfolio acquisitions with deal sizes $4M-$40M targeting retail, industrial, medical, and automotive sectors

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Paramount Specialty Finance is a specialty real estate finance company that originates and structures capital solutions for single-tenant, net-leased (STNL) commercial properties. Its offerings span build-to-suit loans, ground lease loans, joint venture equity, preferred equity, acquisition bridge loans, and special situation investments tailored for net lease developers, sponsors, and corporate tenants in retail, industrial, medical, and automotive sectors.

Product overview

Paramount Specialty Finance operates as a unified net lease lending and investment platform offering six integrated capital solutions: the NNN Platform as the core umbrella, supplemented by Built-to-Suit & Ground Lease Loans (their primary product), Built-to-Suit Joint Venture Equity, Built-to-Suit Preferred Equity, Acquisition Bridge Loans, and Acquisitions & Special Situation Investing. All investments are held on-balance-sheet with committed capital, enabling quick closings and long-term partnership relationships with developers and sponsors.

Differentiator

Problem solved

Functional benefit

Products and services

• NNN Platform Branded investment and origination platform for single-tenant, net-leased (STNL) commercial real estate, through which Paramount originates and structures its capital solutions for net lease developers, sponsors, and corporate tenants.
• Build-to-Suit & Ground Lease Loans Loan financing for build-to-suit developments and ground lease transactions on single-tenant, net-leased properties, provided to net lease developers, sponsors, and corporate tenants.
• Build-to-Suit Joint Venture Equity Joint venture equity capital provided to sponsors for build-to-suit, single-tenant, net-leased real estate projects in retail, industrial, medical, and automotive sectors.
• Build-to-Suit Preferred Equity Preferred equity capital product for build-to-suit, single-tenant, net-leased projects, layered into the capital stack for sponsors and developers.
• Acquisition Bridge Loans Short-term bridge loans provided to sponsors and developers acquiring single-tenant, net-leased commercial properties, bridging to permanent financing or take-out capital.
• Acquisitions & Special Situation Investing Equity and debt investments in acquisition and special situation opportunities involving single-tenant, net-leased real estate assets.

Quantifiable outcome

• Over $1 billion in cumulative investments since 2015
• +2 more outcomes

Named customers39 records

Segments3 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Essex Financial ServicescoreImplementation/ SI/ Consulting PartnerLoan servicing partner providing construction draw review, loan management, and borrower communications. Works closely with PSF team to ensure tight loan closings, construction draw administration, monthly reporting, and investor communications. Have reviewed in excess of $1 billion in bridge and construction draws.

Scale indicators8 records

Recent moves7 records

Expansion highlights6 records

Others

• Realty Income: Largest publicly traded net lease REIT, owning thousands of single-tenant net lease properties. Operates as a potential acquirer/tenant-credit anchor in net lease deals PSF finances, but is a principal investor, not a lender; included for ecosystem comparability.
• W. P. Carey: Large publicly traded net lease REIT that acquires and owns net lease real estate across industrial, retail, office, and healthcare. Comparable as a counterparty and capital source for net lease transactions (often a buyer of BTS assets PSF finances), though W. P. Carey is an investor rather than a lender.

Broad incumbents

• Walker & Dunlop: Large publicly traded CRE finance company originating, servicing, and brokering commercial real estate debt. Overlaps with PSF in construction and bridge lending for net lease and similar assets, but operates at much greater scale and across many property types.
• JLL Capital Markets: Global CRE advisory and capital markets arm of JLL, arranging debt and equity for institutional clients across all property types including net lease. A broad incumbent competing for the same developer/sponsor capital relationships that PSF serves.
• CBRE Capital Markets: Capital markets and debt origination arm of CBRE Group, the largest global CRE services firm. Overlaps with PSF in arranging CRE debt for institutional and private clients, including net lease transactions, but at vastly greater scale and breadth.
• Newmark Group: Full-service CRE services firm including capital markets debt origination, investment sales, and loan servicing. Comparable to PSF in providing CRE financing solutions to sponsors and developers, though Newmark is a broad advisory platform rather than a balance-sheet lender.

Direct peers

• NorthMarq Capital: Privately held commercial real estate debt and equity firm with a national origination footprint. Highly comparable to PSF in directly originating and servicing CRE loans, though NorthMarq is much larger and broader across asset classes, while PSF is specialized in single-tenant net lease.
• Arbor Realty Trust: Publicly traded REIT focused on multifamily and CRE debt, including multifamily bridge and stabilization loans. Directly comparable as a non-bank CRE lender, though Arbor is multifamily-heavy whereas PSF is concentrated in net lease commercial real estate.
• Ready Capital: Publicly traded mortgage REIT originating small-balance and transitional CRE loans. Closely comparable to PSF's bridge and construction lending model in non-bank CRE finance, though Ready Capital is broader across asset classes and geographies.

Emerging players

• A10 Capital: Non-bank private CRE lender providing bridge, acquisition, and stabilization financing to small and mid-sized sponsors. Comparable to PSF as a focused, non-bank CRE lender competing in similar mid-market sponsor relationships, though A10 Capital is broader across property types than PSF's net lease specialization.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/paramount-specialty-finance

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 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 Paramount Specialty Finance